Answer: Managers and workers can view operational activities from a customer's perspective
Operation Managers can better ensure that the operational capabilities they create are consistent with the firm's strategy
Explanation:
Supply chain operations refers to the structures, systems, and processes that are put in place for the execution of the flow of goods and services from the supplier to the customer.
The outcomes when a manager views supply chain operations as a collection of processes rather than a collection of departments or functions include:
• Managers and workers can view operational activities from a customer's perspective.
• Operation Managers can better ensure that the operational capabilities they create are consistent with the firm's strategy.
Truth in lending "trigger terms"MUST disclose amount or % of down payment and terms of repayment and APR spelled out
<u>Solution and Explanation:</u>
As the utility function is concave in shape, so person is risk averse. Thus, he will not accept the gamvle.
The difference between utility at point A&C = 70 minus 65 = $5, is less than a the difference between A&B = 65 minus 55 = $10
<u>MCQ:
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Answer is option a&d - risk averse people fear a lot for losing money, thus they overestimate the probability of loss
Since, shape of utility function is concave, hence the double derivative of utility with respect to wealth is negative, so utility falls at an decreasing rate , as wealth increases
If the two nations trade, the trade price of wheat in terms of steel will be "greater than the domestic opportunity cost of wheat in alpha and less than the domestic opportunity cost of wheat in beta".
Opportunity cost speaks to the advantages an individual, financial specialist or business misses out while picking one option over another. While financial reports don't demonstrate opportunity cost, entrepreneurs can utilize it to settle on wise choices when they have different choices available to them.
