When Developing the Operations Strategy for a New Manufacturing Organization

question 66

Multiple Choice

When developing the operations strategy for a new manufacturing organization, one of the most important considerations is that it

• A) requires minimal capital investment.
• B) utilizes as much automation as possible.
• C) utilizes an equal balance of labour and automation.
• D) supports the overall competitive strategy of the company.
• E) utilizes as little automation as possible.

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Definitions:

Economic Model

A simplified representation of economic processes, typically using mathematical formulas or graphs, to understand and predict economic behaviors.

Poor Predictions

Forecasts or estimations that fail to accurately anticipate future events or outcomes.

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Microeconomics

Microeconomics is the branch of economics that studies how individuals, households, and firms make decisions to allocate limited resources, typically in markets where goods or services are being bought and sold.