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Operational Excellence

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Meaning of operational excellence ........................................................................................... 3 
Basic Principles of Operational Excellence ............................................................................. 3 
The operational Excellence Principle as a tool for optimizing operational processes ........ 5 
Key takeaways ........................................................................................................................... 7 
References ...................................................................................................................................... 9 
 
   

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1 Operational Excellence Authors/Student Name School Name Date 2 Contents Meaning of operational excellence ........................................................................................... 3 Basic Principles of Operational Excellence ............................................................................. 3 The operational Excellence Principle as a tool for optimizing operational processes ........ 5 Key takeaways ........................................................................................................................... 7 References ...................................................................................................................................... 9 3 Meaning of operational excellence Operational excellence is said to be a level where the cycle of operations is visible enough to workers so that when there is a disconnection in the process, it can be fixed without waiting for the management or leader. In an organization with operational excellence, everyone knows their contribution to the customer value stream. A smooth and rough process can easily be noticed and worked upon by the team members in a timely manner in the absence of the leader. Leaders can now focus more on improving the company's income via new ideas while workers are trusted with executing their designated tasks according to the pre-set standards. Basic Principles of Operational Excellence Companies always have areas for improvement, and there are many w ...
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Tags: operational excellence Meaning of operational excellence disconnection in the process contribution to the customer value stream Respect every individual

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After a making huge losses and missteps, Groupon, online coupon site decided to fire Andrew Mason. Andrew Mason was very p ...

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Grantham University Protect Intellectual Property Discussion

75-150 words each discussion question1. Intellectual Property is the life blood of many corporations and organizations. Wi ...

Grantham University Protect Intellectual Property Discussion

75-150 words each discussion question1. Intellectual Property is the life blood of many corporations and organizations. Without the protections afforded by the U.S. legal systems, organizations may never invest in research and development. Currently, patents provide inventors up to 20 years of protection and copyrights can vary in year of protection, but is most commonly protected for the life of the creator plus 70 years or more. However, many other countries do not provide a similar level of protection afforded to intellectual property and in fact may not enforce protections at all.Discuss what you believe is the best way for an organization to protect its intellectual property in a global economy.2. Unfortunately, employment discrimination can still be found in all industries across the country. The Civil Rights Act of 1964 defined protected classes of people aiming to reduce discrimination by holding employer’s responsible. Under Title VII of the Act, an individual’s race, color, religion, sex, or national origin is considered a protected class. Age and pregnancy have also been federally recognized protected classes by subsequent legislation.Discuss if you believe these protected classes go far enough to prevent discrimination in the workplace. Would you add any additional classes of people, if so who and why? Lastly, have you ever experienced any form of discrimination in your employment? If so, how did you resolve the situation?3. Eminent domain is a hotly contested topic in the United States. Typically, opponents see it as an unjust taking by the government, and supporters state it is needed to serve the public interest. This week, research a recent example of Eminent Domain cases or issues, and discuss the merits and implications.Additionally, border walls and the construction of such walls is a highly polarized issue right now. Regardless of its merit, the topic does bring up an interesting legal question when using eminent domain. Discuss if you believe, based on the law, using eminent domain is allowable for the construction of border walls.Lastly, have you or anyone in your family ever experienced an eminent domain taking at the local, state or federal level? If so, what was the outcome?4.This week’s material discusses some of the rights and duties of landlords and tenants.Do you think the law does enough to protect tenants from landlords? What about protecting landlord from tenants?What laws are there protecting tenants (or landlords) in your state?5. Every organization is formed into an entity of some sort, and is usually done to protect individuals from liabilities connected with business operations. If you were starting your own business, which entity formation would you use--sole proprietorship, partnership, LLC, or corporation? Why? Which entity formation would you never use? Why?6. Contracts are the backbone of every business. Most are in writing but even those that are oral are just as important. Contracts are the tools that enforce promises between all parties included. However, there are formal requirements that must be fulfilled for a contract to be considered enforceable. Typically an offer, acceptance, consideration, legality and capacity are required. Do you believe contracts should require fewer formalities to be enforceable? Lastly, have you ever experienced a breach of a contract? How did you handle the consequences from the breach?

HIM 520 Module Five Case Study Guidelines and Rubric

Overview: In this case study, you will analyze the need to improve performance of an academic medical center. Case Study ...

HIM 520 Module Five Case Study Guidelines and Rubric

Overview: In this case study, you will analyze the need to improve performance of an academic medical center. Case Study: A three-hospital academic medical center achieved strong operating margins for many years but, as with many strong health systems, was concerned about the impact of healthcare reform on future performance. The organization’s internal-gap analysis identified the need to improve performance through reduced costs and/or increased revenue by $100-million to $125-million per year over the next five years. While traditional methods of performance improvement (e.g., reducing labor and supply costs, improving revenue-cycle operations) were important, you recognize that you need to employ different methods to truly transform the organization. Prompt: Respond to the case study by addressing the following:  What are some of the actionable opportunities or improvement strategies? Be sure to justify your response.  What are the project components and steps to take to improve performance? Be sure to justify your response  How do you apply the National Safety and Quality Health Service (NSQHS) standards and principles of risk assessment and quality improvement? This assignment will help you understand risk assessment and quality improvement in healthcare, which you can incorporate into your final project. Guidelines for Submission: Your paper should be submitted as a 1- to 2-page Microsoft Word document in APA format with double spacing, 12-point Times New Roman font, and one-inch margins.

Decision Analysis Assistance using QM Excel

2-1. Desmond Taylor is considering investing some money that he inherited. The following payoff table gives the profits ...

Decision Analysis Assistance using QM Excel

2-1. Desmond Taylor is considering investing some money that he inherited. The following payoff table gives the profits that would be realized during the next year for each of three investment alternatives being considered: STATE OF Nature DECISIONALTERNATIVE GOODECONOMYPOORECONOMY Stock Market $110,000 -50,000 Bonds 40,000 30,000 CDs 43,000 43,000 Probability 0.550.45 REQUIRED:(a). What decision would maximize expected profit?(b). What is the maximum amount that should be paid for a perfect forecast of the economy? 2-2. Suppose that Desmond wants to make investment decision between bonds and stocks only. Conduct sensitivity analysis to help this person. Draw an appropriate picture to support your responses. 2-3. ABC Farm, Inc., produces cases of perishable food products. Each case contains an assortment of vegetables and other farm products. Each case costs $5 and sells for $15. If there are any cases not sold by the end of the day, they are sold to a large food processing company for $4 a case. The probability that daily demand will be 100 cases is 0.3, the probability that the demand will be 200 cases is 0.4, and the probability that daily demand will be 300 cases is 0.3. ABC has a policy of always satisfying customer demands. If its own supply of cases is less than the demand, it buys the necessary vegetables from a competitor. The estimated cost of doing this is $16 per case.Required:(a). Draw a decision table for this problem.(b). What do you recommend?(c). Suppose that you have reason to believe the probabilities may not be reliable due to changing conditions. If these probabilities are ignored, what decision would be made using: (i) the optimistic criterion? (ii) the pessimistic criterion?Finally, on a separate document, please explain how each was computedQM excel add in should be used to respond to each question. I have listed a link below for the QM excel if you don't have it https://media.pearsoncmg.com/ph/bp/bridgepages/bp_render_bridgepage/qam_13e/index.html

5 pages

Small Business Administration

Small Business Administration (SBA) is an agency of the United States government that provides supports to entrepreneurial ...

Small Business Administration

Small Business Administration (SBA) is an agency of the United States government that provides supports to entrepreneurial and small business ...

Shoals Corporation puts significant emphasis on cash flow when planning capital investments. The company chose its discoun ...

Shoals Corporation puts significant emphasis on cash flow when planning capital investments. The company chose its discount rate of 8 percent based on the rate of return it must pay its owners and creditors. Using that rate, Shoals Corporation then uses different methods to determine the most appropriate capital outlays. This year, Shoals Corporation is considering buying five new backhoes to replace the backhoes it now owns. The new backhoes are faster, cost less to run, provide for more accurate trench digging, have comfort features for the operators, and have 1-year maintenance agreements to go with them. The old backhoes are working just fine, but they do require considerable maintenance. The backhoe operators are very familiar with the old backhoes and would need to learn some new skills to use the new backhoes. The following information is available to use in deciding whether to purchase the new backhoes: Old Backhoes New Backhoes Purchase cost when new $90,000 $200,000 Salvage value now $42,000 Investment in major overhaul needed in next year $55,000 Salvage value in 8 years $15,000 $90,000 Remaining life 8 years 8 years Net cash flow generated each year $30,425 $43,900 Instructions To complete this assignment, write a 3–5 page paper in which you address the following items: Evaluate, discuss, and compare whether to purchase the new equipment or overhaul the old equipment. (Hint: For the old machine, the initial investment is the cost of the overhaul. For the new machine, subtract the salvage value of the old machine to determine the initial cost of the investment.) Using Excel, calculate the net present value of the old backhoes and the new backhoes. Discuss the net present value of each, including what the calculations reveal about whether the company should purchase the new backhoes or continue using the old backhoes. Using Excel, calculate the payback period for keeping the old backhoes and purchasing the new backhoes. (Hint: For the old machines, evaluate the payback of an overhaul.) Discuss the payback method and what the payback periods of the old backhoes and new backhoes reveal about whether the company should purchase new backhoes or continue using the old backhoes. Calculate the profitability index for keeping the old backhoes and purchasing new backhoes. Discuss the profitability index of each, including what the calculations reveal about whether the company should purchase the new backhoes or continue using the old backhoes. Identify and discuss any intangible benefits that might influence this decision. Answer the following: Should the company purchase the new backhoes or continue using the old backhoes? Explain your decision. This course requires the use of Strayer Writing Standards. For assistance and information, please refer to the Strayer Writing Standards link in the left-hand menu of your course. Check with your professor for any additional instructions. The specific course learning outcome associated with this assignment is: Analyze the financial condition of a company using vertical, horizontal, and ratio analysis to make informed decisions.

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Grantham University Protect Intellectual Property Discussion

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Grantham University Protect Intellectual Property Discussion

75-150 words each discussion question1. Intellectual Property is the life blood of many corporations and organizations. Without the protections afforded by the U.S. legal systems, organizations may never invest in research and development. Currently, patents provide inventors up to 20 years of protection and copyrights can vary in year of protection, but is most commonly protected for the life of the creator plus 70 years or more. However, many other countries do not provide a similar level of protection afforded to intellectual property and in fact may not enforce protections at all.Discuss what you believe is the best way for an organization to protect its intellectual property in a global economy.2. Unfortunately, employment discrimination can still be found in all industries across the country. The Civil Rights Act of 1964 defined protected classes of people aiming to reduce discrimination by holding employer’s responsible. Under Title VII of the Act, an individual’s race, color, religion, sex, or national origin is considered a protected class. Age and pregnancy have also been federally recognized protected classes by subsequent legislation.Discuss if you believe these protected classes go far enough to prevent discrimination in the workplace. Would you add any additional classes of people, if so who and why? Lastly, have you ever experienced any form of discrimination in your employment? If so, how did you resolve the situation?3. Eminent domain is a hotly contested topic in the United States. Typically, opponents see it as an unjust taking by the government, and supporters state it is needed to serve the public interest. This week, research a recent example of Eminent Domain cases or issues, and discuss the merits and implications.Additionally, border walls and the construction of such walls is a highly polarized issue right now. Regardless of its merit, the topic does bring up an interesting legal question when using eminent domain. Discuss if you believe, based on the law, using eminent domain is allowable for the construction of border walls.Lastly, have you or anyone in your family ever experienced an eminent domain taking at the local, state or federal level? If so, what was the outcome?4.This week’s material discusses some of the rights and duties of landlords and tenants.Do you think the law does enough to protect tenants from landlords? What about protecting landlord from tenants?What laws are there protecting tenants (or landlords) in your state?5. Every organization is formed into an entity of some sort, and is usually done to protect individuals from liabilities connected with business operations. If you were starting your own business, which entity formation would you use--sole proprietorship, partnership, LLC, or corporation? Why? Which entity formation would you never use? Why?6. Contracts are the backbone of every business. Most are in writing but even those that are oral are just as important. Contracts are the tools that enforce promises between all parties included. However, there are formal requirements that must be fulfilled for a contract to be considered enforceable. Typically an offer, acceptance, consideration, legality and capacity are required. Do you believe contracts should require fewer formalities to be enforceable? Lastly, have you ever experienced a breach of a contract? How did you handle the consequences from the breach?

HIM 520 Module Five Case Study Guidelines and Rubric

Overview: In this case study, you will analyze the need to improve performance of an academic medical center. Case Study ...

HIM 520 Module Five Case Study Guidelines and Rubric

Overview: In this case study, you will analyze the need to improve performance of an academic medical center. Case Study: A three-hospital academic medical center achieved strong operating margins for many years but, as with many strong health systems, was concerned about the impact of healthcare reform on future performance. The organization’s internal-gap analysis identified the need to improve performance through reduced costs and/or increased revenue by $100-million to $125-million per year over the next five years. While traditional methods of performance improvement (e.g., reducing labor and supply costs, improving revenue-cycle operations) were important, you recognize that you need to employ different methods to truly transform the organization. Prompt: Respond to the case study by addressing the following:  What are some of the actionable opportunities or improvement strategies? Be sure to justify your response.  What are the project components and steps to take to improve performance? Be sure to justify your response  How do you apply the National Safety and Quality Health Service (NSQHS) standards and principles of risk assessment and quality improvement? This assignment will help you understand risk assessment and quality improvement in healthcare, which you can incorporate into your final project. Guidelines for Submission: Your paper should be submitted as a 1- to 2-page Microsoft Word document in APA format with double spacing, 12-point Times New Roman font, and one-inch margins.

Decision Analysis Assistance using QM Excel

2-1. Desmond Taylor is considering investing some money that he inherited. The following payoff table gives the profits ...

Decision Analysis Assistance using QM Excel

2-1. Desmond Taylor is considering investing some money that he inherited. The following payoff table gives the profits that would be realized during the next year for each of three investment alternatives being considered: STATE OF Nature DECISIONALTERNATIVE GOODECONOMYPOORECONOMY Stock Market $110,000 -50,000 Bonds 40,000 30,000 CDs 43,000 43,000 Probability 0.550.45 REQUIRED:(a). What decision would maximize expected profit?(b). What is the maximum amount that should be paid for a perfect forecast of the economy? 2-2. Suppose that Desmond wants to make investment decision between bonds and stocks only. Conduct sensitivity analysis to help this person. Draw an appropriate picture to support your responses. 2-3. ABC Farm, Inc., produces cases of perishable food products. Each case contains an assortment of vegetables and other farm products. Each case costs $5 and sells for $15. If there are any cases not sold by the end of the day, they are sold to a large food processing company for $4 a case. The probability that daily demand will be 100 cases is 0.3, the probability that the demand will be 200 cases is 0.4, and the probability that daily demand will be 300 cases is 0.3. ABC has a policy of always satisfying customer demands. If its own supply of cases is less than the demand, it buys the necessary vegetables from a competitor. The estimated cost of doing this is $16 per case.Required:(a). Draw a decision table for this problem.(b). What do you recommend?(c). Suppose that you have reason to believe the probabilities may not be reliable due to changing conditions. If these probabilities are ignored, what decision would be made using: (i) the optimistic criterion? (ii) the pessimistic criterion?Finally, on a separate document, please explain how each was computedQM excel add in should be used to respond to each question. I have listed a link below for the QM excel if you don't have it https://media.pearsoncmg.com/ph/bp/bridgepages/bp_render_bridgepage/qam_13e/index.html

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Small Business Administration

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Small Business Administration

Small Business Administration (SBA) is an agency of the United States government that provides supports to entrepreneurial and small business ...

Shoals Corporation puts significant emphasis on cash flow when planning capital investments. The company chose its discoun ...

Shoals Corporation puts significant emphasis on cash flow when planning capital investments. The company chose its discount rate of 8 percent based on the rate of return it must pay its owners and creditors. Using that rate, Shoals Corporation then uses different methods to determine the most appropriate capital outlays. This year, Shoals Corporation is considering buying five new backhoes to replace the backhoes it now owns. The new backhoes are faster, cost less to run, provide for more accurate trench digging, have comfort features for the operators, and have 1-year maintenance agreements to go with them. The old backhoes are working just fine, but they do require considerable maintenance. The backhoe operators are very familiar with the old backhoes and would need to learn some new skills to use the new backhoes. The following information is available to use in deciding whether to purchase the new backhoes: Old Backhoes New Backhoes Purchase cost when new $90,000 $200,000 Salvage value now $42,000 Investment in major overhaul needed in next year $55,000 Salvage value in 8 years $15,000 $90,000 Remaining life 8 years 8 years Net cash flow generated each year $30,425 $43,900 Instructions To complete this assignment, write a 3–5 page paper in which you address the following items: Evaluate, discuss, and compare whether to purchase the new equipment or overhaul the old equipment. (Hint: For the old machine, the initial investment is the cost of the overhaul. For the new machine, subtract the salvage value of the old machine to determine the initial cost of the investment.) Using Excel, calculate the net present value of the old backhoes and the new backhoes. Discuss the net present value of each, including what the calculations reveal about whether the company should purchase the new backhoes or continue using the old backhoes. Using Excel, calculate the payback period for keeping the old backhoes and purchasing the new backhoes. (Hint: For the old machines, evaluate the payback of an overhaul.) Discuss the payback method and what the payback periods of the old backhoes and new backhoes reveal about whether the company should purchase new backhoes or continue using the old backhoes. Calculate the profitability index for keeping the old backhoes and purchasing new backhoes. Discuss the profitability index of each, including what the calculations reveal about whether the company should purchase the new backhoes or continue using the old backhoes. Identify and discuss any intangible benefits that might influence this decision. Answer the following: Should the company purchase the new backhoes or continue using the old backhoes? Explain your decision. This course requires the use of Strayer Writing Standards. For assistance and information, please refer to the Strayer Writing Standards link in the left-hand menu of your course. Check with your professor for any additional instructions. The specific course learning outcome associated with this assignment is: Analyze the financial condition of a company using vertical, horizontal, and ratio analysis to make informed decisions.