QUESTION ONE

 

Global Operations Managers are not Gamblers, but they are decision makers. To achieve the goals of their organizations, Managers must understand how decisions are made and know which decision tool to use;

 

(a) Identify and briefly explain the Six (6)steps that will be followed or considered in order to arrive at a good decision in Operations Management              

(b) There are Two (2) fundamental decision making areas in Operations Management decision paradigms. Elucidate the Two (2) in terms of the types and the symbols used by giving examples of decision tree, decision table techniques and the Phillip's Poker decision process

(c) There are Three (3) decision - making environments namely; Decision making under uncertainty, Decision making under risk and decision making and certainty. Briefly explain how these environments present themselves and methods employed considering the maxims of Maximax, Maximin and Equally likely (Under Uncertainty), Expected Monetary Value - EMV (Under Risk) and Expected Value of Perfect Information - EVPI (Under Certainty).                          .

QUESTION TWO

Every day, Operations Managers make decisions without knowing what will happen in the future. However forecasting will enable Managers make good estimates;

2. What is forecasting and what good attributes are drawn from the same as pertains to Operations Management?                                          
4. Forecasting is mainly classified in Future Time Horizons and is categorized into Three (3) Time Horizons. Identify and briefly explain these Three (3)categories, elaborately distinguish them through Three (3) Features and state the Three (3) major types of forecasts that Managers are likely to undertake in planning for future operations

                                                             

1. What is the strategic importance of forecasting in Operations Management and in which Three (3) Activity areas is this critically considered? State and briefly describe the Seven (3) basic steps that will be followed to arrive at a good forecasting system. Mention and describe the Two (2) approaches of Forecasting and their associated methods  

QUESTION THREE

Global Operations Managers face many new challenges as economic, social, political and technological changes. Many of these decisions are economic in nature and may impact many stakeholders;

2. What is Corporate Social Responsibility (CSR) and what process would employ to arrive at a good Global Operations CSR strategy
3.  
4. Elaborate on the above stated areas of concern namely; economic, social, political and technological and how a CSR Strategy will deal with them to ensure that Operations are effectively and efficiently carried out by Organizations                   
5.  
6. Explain the wider view of Corporate Social Responsibility (CSR) in terms of Operations and Environmental dimensions, Operations and Social dimensions, Operations and Economic dimensions, Operations and Stakeholders dimensions and Operations and Voluntary dimensions                                          

QUESTION FOUR

The ability of any organization to play its roles can be judged by considering organization aims or aspirations of the Operations function;

2. Identify and briefly explain the Four (4)Hayes and Wheelwright's stages of Operations contribution                                                     
4. Define, compare and contrast the Order winners and Qualifier Objectives by also highlighting salient features, advantages and disadvantages and why different customer needs imply different performance objectives 
6. Define, compare and contrast "Delights" and "Tradeoffs" as enablers in Operations Management proficiency through New Product/Service Development and Life cycle as influence on performance objectives