Description
APA format is required.References should be listed immediately after the question that is being answered.Each question lists a minimum number of unique scholarly references; the textbook is considered one unique reference (per question) regardless of how many times it is used.All references should be from the years 2007 to present day.
Review the rubric that will be used to evaluate this paper. All work must be completed individually.
- What must companies focus on in order to survive in today’s business environment? Use at least two unique references. Length: 4-5 paragraphs.
- Read the case: Prime Bank of Massachusetts, available in the Operations Management textbook, Chapter 2.Develop a list of changes for the operations function that should be considered by the bank. Use at least one unique reference.Begin by identifying operations management decisions that would be involved in operating a bank, for example, layout of facility, staff, drive-through service. Then identify ways that they can be improved at Prime Bank in order to support the strategy focused on customer service. Use at least two unique references. Length: 4-5 paragraphs.
- In the product screening stage of new product development, what are some questions that may need to be explored by the operations function? By marketing? By finance? Use at least two unique references. Length: 4-5 paragraphs.
- Describe how consumers can use the Internet to shop in new ways. Use at least two unique references. Length: 4-5 paragraphs.
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Explanation & Answer
Attached.
Running head: BUSINESS
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Business
Name
Institution
BUSINESS
2
Question 1
Businesses need to be built on a stable, predictable as well as consistent aptitude. The
processes must be designed in a way that would ensure consistent output, by controlling
employee’s behaviors that will be able to produce the different outcomes. In today’s world, it
has become a greater challenge for the companies to be able to remain competitive.
The consultants, academics, as well as businessmen, need to be able to do a better job at
sharing their ideas and knowledge, so as to come up with the practical solutions which might be
able to make a difference. Having this in mind, every company would be able to come up with
solutions that will enable them to to survive in harsh business environments (Hammer, 2003).
Some of these survivals tactics will help all the stakeholders and not just the
shareholders. More so, they must be permanent solutions that will help the company to be able to
surpass its drawbacks. The company administration must focus on all stakeholders, including the
staff, investors and consumers. This will enable every party of the company to be able to focus
more on the loyalty of the organization, and in turn, they will be able to adapt as well as support
the company as it tries to navigate the future challenges.
What tends to drag most of the companies behind and prevent them from moving forward
in terms of tackling the challenges is failing to undergo a transformative shift. The current
business trends need corporates to adopt to the rapid evolving changes easily. This aspect has
been made possible by heightening of innovativeness and improvement of technology in the
field.
BUSINESS
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Question 2
The operation management decision which is sufficient to be used in the operation of the
bank include:
•
Staffing and scheduling
•
Number of AT...