Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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How can efficiency be positive and negative?

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How much improvement in efficiency is gained?
What is the difference between productivity and performance? Why is it important to know the difference?
What's the difference between technical feasibility, economic feasibility, and operational visibility?
Give examples of time-based Advantages and Disadvantages?
e. How is efficiency different from productivity?
Some say labor efficiency and productivity are the same thing. Others say that labor efficiency is doing the same with less, and productivity is doing more with the same. What do you think? Why?
In as few words as possible, please define "balanced scorecard." How does it relate to the functioning of a business?
Can you please do question number 1 ?
1. A lawn mower manufacturer can produce 40 units in an 8-hour shift. What is the labor productivity of this operation? By hiring additional workers, this facility can produce 50 units in an 8-hour shift. What is the new labor productivity? What is the percentage of productivity gain? 2. An accounting firm can produce 8 monthly reports in three 8-hour shifts. What is the productivity of this firm? If this firm hires two additional workers, what would be the productivity of this firm? What is the percentage of productivity gain? 3. If a machine shop can produce 160 containers in one week with 4 workers (40 hours per week), what is the labor productivity? By redesigning the workflow, they can increase production to 200 containers, what would be the new labor productivity? What is the percent change in labor productivity?
“Efficiency implies cost-effectiveness, but cost-effectiveness does not imply efficiency”Explain this statement
A company is able to produce 2,350 units of product A monthly. This level of production requires spending $1,000 on labor, $520 on materials, and $2,000 on overhead expenses. Calculate the multifactor productivity. Assuming the company can increase its production to 2,850 units, following an increase of materials expenses to $960, and labor expenses to 1,240. Is it worthy to increase the production level? Justify.
What is the problem with the linear system of productivity?

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