
a)
Case summary:
Person H and 400 co-workers were terminated from a company as a result of downsizing. She tried for another job for almost 8 months. However, she could not able to find a job. Hence, she thought making money by mowing the lawns of her neighbors. After so many rejections from the job search, she decided to make it as her business.
In the initial stages, it was little slow. However, after few months, most of the neighbors preferred Person H to mow their lawns over professional lawn care services. Other services performed by Person H are shrubbery, trimming, fertilizing lawns, and weeding gardens.
To determine: The major sources of variation.
b)
Case summary:
Person H and 400 co-workers were terminated from a company as a result of downsizing. She tried for another job for almost 8 months. However, she could not able to find a job. Hence, she thought making money by mowing the lawns of her neighbors. After so many rejections from the job search, she decided to make it as her business.
In the initial stages, it was little slow. However, after few months, most of the neighbors preferred Person H to mow their lawns over professional lawn care services. Other services performed by Person H are shrubbery, trimming, fertilizing lawns, and weeding gardens.
To determine: The way that the major sources of variation would impact the ability of Person H to match the supply and demand.
c)
Case summary:
Person H and 400 co-workers were terminated from a company as a result of downsizing. She tried for another job for almost 8 months. However, she could not able to find a job. Hence, she thought making money by mowing the lawns of her neighbors. After so many rejections from the job search, she decided to make it as her business.
In the initial stages, it was little slow. However, after few months, most of the neighbors preferred Person H to mow their lawns over professional lawn care services. Other services performed by Person H are shrubbery, trimming, fertilizing lawns, and weeding gardens.
To determine: The ways to cope with the variations.

Want to see the full answer?
Check out a sample textbook solution
Chapter 1 Solutions
EBK OPERATIONS MANAGEMENT
- Define risk management and explain its importance in a small business.arrow_forward1. Define risk management and explain its importance in a small business. 2. Describe three types of risks commonly faced by entrepreneurs. 3. Explain the purpose of a risk register. 4. List and briefly describe four risk response strategies. (5 marks) (6 marks) (4 marks) (8 marks) 5. Explain how social media can pose a risk to small businesses. (5 marks) 6. Identify and describe any four hazard-based risks. (8 marks) 7. Mention four early warning indicators that a business may be at risk. (4 marks)arrow_forwardState whether each of the following statements is TRUE or FALSE. 1. Risk management involves identifying, analysing, and mitigating risks. 2. Hazard risks include interest rate fluctuations. 3. Entrepreneurs should avoid all forms of risks. 4. SWOT analysis is a tool for risk identification. 5. Scenario building helps visualise risk responses. 6. Risk appetite defines how much risk an organisation is willing to accept. 7. Diversification is a risk reduction strategy. 8. A risk management framework must align with business goals. 9. Political risk is only relevant in unstable countries. 10. All risks can be eliminated through insurance.arrow_forward
- 9. A hazard-based risk includes A. Political instability B. Ergonomic issues C. Market demand D. Taxation changesarrow_forward8. Early warning indicators help businesses to A. Avoid legal actions B. Grow rapidly C. Detect potential risks D. Hire employees 9. A hazard-based risk includes A. Political instability B. Ergonomic issues C. Market demand D. Taxation changesarrow_forward10. Which risk category refers to taking advantage of a new opportunity despite potential challenges? A. Hazard B. Uncertainty C. Opportunity D. Strategicarrow_forward
- Purchasing and Supply Chain ManagementOperations ManagementISBN:9781285869681Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. PattersonPublisher:Cengage LearningManagement, Loose-Leaf VersionManagementISBN:9781305969308Author:Richard L. DaftPublisher:South-Western College Pub
- MarketingMarketingISBN:9780357033791Author:Pride, William MPublisher:South Western Educational PublishingPractical Management ScienceOperations ManagementISBN:9781337406659Author:WINSTON, Wayne L.Publisher:Cengage,Foundations of Business (MindTap Course List)MarketingISBN:9781337386920Author:William M. Pride, Robert J. Hughes, Jack R. KapoorPublisher:Cengage Learning



