Briefly Discuss the Three Important Trends in Business That Have

question 80

Essay

Briefly discuss the three important trends in business that have focused attention on operations and supply chain management.

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Definitions:

Empirical Measure

A method or metric that is based on observation or experience rather than theory or pure logic.

Causal Statement

A declaration that indicates a cause-and-effect relationship between two events or variables.

Positive Economics

A branch of economics that focuses on describing and explaining the economic world as it is, not as it should be.

Operation of Systems

The process of managing and executing the functions and activities of interconnected and interdependent components to achieve specified goals.