Question 2 25 Points Forecasting is used primarily in the estimation of a future value of a variable of interest, such as a future demand value or an estimated price increase. What value does an accurate forecast value provide an organization? Why? Use the editor to format your answer Question 3 35 Points In operations management, the design of one's product or service dictates significant investments towards assets, skills and processes. QFD (Quality Function Deployment) is a tool for implementation used to incorporate the voice of the customer into the product and service development. Why is it important to consider the customer's demands towards the creation and implementation of a product or service? Use the editor to format your answer Question 4 25 Points A key principle in operations management is ensuring efficiency is kept at a maximum in order to capitalize on available skills, equipment and investments. Why is efficiency so important in operations? Use the editor to format your answer Question 1 15 Points An organization's mission, vision and goals have a direct effect towards directing the company towards its expected long-term goals. These three components often substantially influence the strategies implemented within an organization and are often used to determine the overall focus of the organization as a whole. Shangri-La Hotels and Resorts has the following mission: to delight their guests every time by creating engaging experiences straight from our heart. Their vision is "to be the first choice for guests, colleagues, shareholders and business partners". Provide 3 goals for the Shangri-La organization based on these statements. Use the editor to format your answer