The social impact of the triple bottom line concept pertains to fair and beneficial business practices toward labor, the community, and the region in which a firm conducts its business.
According to the economic aspect of the triple bottom line concept, the firm is required to compensate shareholders by paying dividends and growing the value of their common stock faster than their competitors. FALSE The firm is obligated to compensate shareholders who provide capital through stock purchases and other financial instruments via a competitive return on investment. Within a sustainability framework, the economic dimension of the triple bottom line concept goes beyond just profit for the firm but also provides lasting economic benefit to society.
TRUE Within a sustainability framework, this economic dimension goes beyond just profit for the firm but also provides lasting economic benefit to society. Within a sustainability framework, the environmental dimension of the triple bottom line concept has to do with labor, the community, and the region in which a firm conducts its business.
Cost or price B. Delivery speed C. Delivery reliability D. Management acumen E. Management acumen is not mentioned. Focus C. Automation D. Straddling E. Activity-system mapping Cost or Price is one of the competitive dimensions mentioned in the text. When developing an operations and supply chain strategy, which of the following is an important product-specific criterion to consider?
Technical liaison B. Learning curve C. Production lot-size E. Total quality management Technical liaison and support. A supplier may be expected to provide technical assistance for product development, particularly during the early stages of design and manufacturing. In development of an operations and supply chain strategy, which of the following may be an important product-specific criteria to consider?
Focus B. Production lot-size C. Supplier after-sale support D. Learning curve E. When a company seeks to match the benefits of a successful position while maintaining its existing position in offering customers a variety of differing services, what is this process called? Operations capability analysis B.
Straddling C. Order qualifying D. Order winning E. Inter-functional analysis Straddling occurs when a company seeks to match the benefits of a successful position while maintaining its existing position. A network guide to route airlines B. A listing of activities that make up a project C. A facility layout schematic noting what is done where E. Which of the following is a partial measure of productivity?
All of these Answer A is correct. Which of the following is a multifactor measure of productivity? All of these Answer B is correct. Which of the following is a total measure of productivity? All of these Answer D is correct. Answer A is a partial measure of productivity, Answer B is a multifactor measure of productivity while C is a measure of total productivity.
If all you knew about a production system was that total daily output was units and the total labor necessary to produce the units was hours, what kind of productivity measure could you use to compute productivity?
Partial measure B. Multifactor measure C. Total measure D. Global measure E. Without measures of other inputs only a partial output measure is possible. If all you knew about a production system was that total daily output was units and the total labor necessary to produce the units was hours, and the total materials used were units, what kind of productivity measure could you use to compute productivity?
A and B above E. B and C above Answer D is the most correct of the answers. You could use either a partial or a multifactor measure or both kinds of measure. The total output from a production system in one day is units and the total labor necessary to produce the units is hours.
A few years ago the dollar showed relative weakness with respect to foreign currencies, such as the yen, mark, and pound. This stimulated exports. Why would long-term reliance on a lower valued dollar be at best a short-term solution to the competitiveness problem?
This approach is dependent on economic policies of other nations. This is a fragile dependency. A long-term approach is to increase manufacturing and service industry productivity in order to regain competitive advantage.
At a national level, solutions appear to lie in reversing attitudes. At a firm level, competitive weapons are consistent quality, high performance, dependable delivery, competitive pricing, and design flexibility. In your opinion, do business schools have competitive priorities?
Their competitive priorities include: Quality of professors and curriculum—consistent quality and high performance Leader in development of new curriculum topics—design changes Academic level of student attracted—consistent quality Quantity and quality of research published—consistent quality Quality of library resources—quality What companies recruit at the school—after sales service Success rate of graduates—consistent quality Availability of financial aid—low price and after sales service Cost of tuition—low price.
The top three priorities have generally remained the same over time: make it good, make it fast, and deliver it on time. Others have changed.
Part of this may be explained by realizing that world class organizations have achieved excellence in these three areas and are, therefore, focusing attention on some of the more minor areas to gain competitive advantage. The changes in the minor priorities may result from recognizing opportunities or from changes in customer desires or expectations. What is meant by the expressions order winners and order qualifiers? What was the order winner s for your last purchase of a product or service?
Order winners are dimensions that differentiate the product or service or services of one firm from another. Order qualifiers are dimensions that are used to screen a product or service as a candidate for purchase. Obviously, answers will vary for the order winners from your last purchase. What could the company have done to have minimized the impact of this type of disruption prior to it occurring? The March tsunami that struck Japan was geographically concentrated but had global impact on multiple firms, many of which had no physical presence at all in the affected area.
Examples include firms that had sole source agreements with suppliers in the affected area. The tsunami left these companies scrambling to find new suppliers to feed into their supply chains. These firms could have reduced the impact of the tsunami by having a few high-quality, dependable suppliers located in different geographical regions. There are many other examples that could be taken from this one event. A simple Internet search will provide plenty of material for discussion.
For productivity to be meaningful, it must be compared with something else. The comparisons can be either intra-company as in the case of year-to-year comparisons of the same measure, or intercompany as in the case of benchmarking. Intercompany comparisons of single factor productivity measures can be somewhat tenuous due to differences in accounting practices especially when comparing with foreign competitors and the balance of labor to capital resources..
Total factor productivity measures are somewhat more robust for comparison purposes. Problems 1. As Operations Manager, you are concerned about being able to meet sales requirements in the coming months. You have just been given the following production report. Find the average monthly productivity units per machine hour.
To answer this we need to realize that the measure of hours given is per machine, so we have to multiply that by the number of machines in each period to get the total machine hours in each period.
Those figures are used in the calculations below. Sailmaster makes high-performance sails for competitive windsurfers. Below is information about the inputs and outputs for one model, the Windy We have to do some interim calculations here.
Sales revenue is calculated by multiplying units sold by the unit sales price. Labor expense is calculated by multiplying labor hours by the wage rate. Live Trap Corporation received the data below for its rodent cage production unit. Find the total productivity? Total productivity could be expressed two ways here based on how you express output: in units sold, or dollars of sales. Two types of cars Deluxe and Limited were produced by a car manufacturer last year. Quantities sold, price per unit, and labor hours follow.
What is the labor productivity for each car? Explain the problem s associated with the labor productivity. The labor productivity measure is a conventional measure of productivity. However, as a partial measure, it may not provide all of the necessary information that is needed.
Do the results seem misleading? Labor Productivity Country U. You might expect the capital equipment productivity measure to be higher in the U. Also, the measures seem contradictory. Each plant appears to be far more productive than the other on one measure, but much worse on the other.
Do the results make more sense? Yes, labor and equipment can be substituted for each other. Therefore, this multifactor measure is a better indicator of productivity in this instance.
Raw Material Productivity Country U. Calculate the total productivity measure and the partial measures for labor, capital, and raw materials for this company for both years. What do these measures tell you about this company? The overall productivity measure is declining, which indicates a possible problem.
The partial measures can be used to indicate cause of the declining productivity. In this case, it is a combination of declines in both labor and raw material productivity, which were somewhat offset by an increase in the capital productivity. Further investigation should be undertaken to explain the drops in both labor and raw material productivity.
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