
Concept explainers
Interpretation:
Reason for impossibility of “Black Swan Crises”.
Concept Introduction:
A crises is an after effect of some happening or event which could have been foreseen.
Black Swan events which are part of the unknown unknowns, are unexpected and it cause disruptions in the way people normally conduct business and change the way people normally behave as per “conventional wisdom”.

Explanation of Solution
Black Swan events which are part of the unknown unknowns, are unexpected and it cause disruptions in the way people normally conduct business and change the way people normally behave as per “conventional wisdom”. These unknown unknowns can also have a positive impact such as the internet which was a disruptive innovation. These events transform the way people think and conduct their businesses.
A crises is an after effect of some happening or event which could have been foreseen. To illustrate, the financial crises of 2008 was due to housing loans going bad due to the greed of banks and loan institutions. The crises was foreseen by some eminent economists such as Dr. R. There is some time to address the issue or cause before the negative impact of the event is felt. Consequently, a crises unlike a “Black Swan” event is not totally unexpected.
Want to see more full solutions like this?
Chapter 15 Solutions
Practical Operations Management
- Agree or disagree with the post When you get an insulting offer, the best thing to do is stay calm and professional. Try not to take it personally or react out of anger. Instead, ask questions to understand why the offer was so low. This helps you get a better idea of what the other person is thinking. After that, you can respond with a counteroffer that shows your value. Use simple facts like your skills, experience, and what others in your field are getting paid to back up your request. If the person still refuses to offer something fair, it’s okay to politely say no and walk away. Standing up for yourself in a respectful way shows confidence and helps others take you seriously. Agree or disagree with the postarrow_forwardRegarding perceptions that can occur when negotiating in different places and at different times, the continuation norm in e-negotiations is best described as _____. Group of answer choices A. negotiators' beliefs that negotiations are worth continuing B. the act of thinking about how things might have turned out differently C. the tendency for e-communicators to ascribe diabolical intentions to the other party D. the tendency for negotiators to behave as if they are communicating synchronously when in fact they are notarrow_forwardIn any discussion or meeting, there is a tendency for a minority of people to do most of the talking. A key determinant of who dominates the conversation is _____. Group of answer choices A. their status within the group B. their network of social connections C. their gender D. their agearrow_forward
- With regard to intergenerational negotiation, the _____ generation has vast numbers of relationships but few of them are deep. They spend more time communicating virtually than face-to-face. Their personal and work networks are vital to their on-the-fly learning and problem-solving skills. Armed with tools for working anywhere at any time, this generation puts more value in leading a balanced life and flexibility with their work and life demands. Group of answer choices A. mature B. boomer C. millennial D. Generation Xarrow_forwardIf a negotiator has less power than the counterparty and an unattractive BATNA, which communication medium might help the less-powerful negotiator claim more resources?arrow_forwardCould you help explain what the foundations of faith are? What are their strategies?arrow_forward
- Hi! Can you guys help me with this? Thank you! Please write-up summarizing the core message of the movie/documentary and the connection to the course material The documentary is Poisoned: The Dirty Truth About Your Food directed by Stephanie Soechtig from Netflix. * Here are the course material: Global Logistics Global Transportation; Global Inventory Management Global Operation Global Market Channels Purchasing Stategies: Outsourcing; Offshoring; Nearshoring; Multi-sourcing & Co-sourcing Make or Buy decisions Global Supply Chain Infrastructure: Transportation Infrastructure; Communication Infrastructure; Utilities Infrastructure; Technology Infrastructure Supply Chain Risks: • Supply Risks – disruption of supply, inventory and schedules. • Operational Risks – breakdown of operations, changes in technologies. • Demand Risks – variations in demand.• Security Risks – theft, sabotage, terrorism, counterfeiting.• Macro Risks – economic shifts, recession, wage hikes, varying…arrow_forwardHi! Can you guys help me with this? Thank you! Please write-up summarizing the core message of the movie/documentary and the connection to the course material The documentary is American Factory by Steven Bognar & Julia Reichert from Netflix * Here the course material: Global Logistics Global Transportation; Global Inventory Management Global Operation Global Market Channels Purchasing Stategies: Outsourcing; Offshoring; Nearshoring; Multi-sourcing & Co-sourcing Make or Buy decsions Global Supply Chain Infrastructure: Transportation Infrastructure; Communication Infrastructure; Utilities Infrastructure; Technology Infrastructure Supply Chain Risks: • Supply Risks – disruption of supply, inventory and schedules. • Operational Risks – breakdown of operations, changes in technologies. • Demand Risks – variations in demand.• Security Risks – theft, sabotage, terrorism, counterfeiting.• Macro Risks – economic shifts, recession, wage hikes, varying exchangerates.• Policy Risks –…arrow_forward1) View the video Alton Bridge (12.16 mins, Ctrl + Click on the link), and please answer the following questions: https://meida.gaspar.mheducation.com/GASPARPlayer/play.html?id=24qHEm8aNZExFciJtZQbqli a) According to the video, what are the various steps involved in managing projects? b) What were the different phases of the Alton Bridge project? c) What are the two widely used scheduling techniques, and under what phase of the Alton Bridge project are they discussed? Note: As a rough guideline, please try to keep the written submission to a paragraph or so for each of the questions. 2) The following is a table of activities associated with a mining project at Lunar Industries, their durations, and what activities each must precede: Activity Duration (weeks) Precedes A (start) 1 B, C B 1 E C 4 F E 2 F F (end) 2 - The AOM project diagram is as given below: a) What is the critical path (list all activities in the…arrow_forward
- 1) View the video Alton Bridge (12.16 mins, Ctrl + Click on the link), and please answer the following questions: a) According to the video, what are the various steps involved in managing projects? b) What were the different phases of the Alton Bridge project? c) What are the two widely used scheduling techniques, and under what phase of the Alton Bridge project are they discussed? Note: As a rough guideline, please try to keep the written submission to a paragraph or so for each of the questions. 2) The following is a table of activities associated with a mining project at Lunar Industries, their durations, and what activities each must precede: Activity Duration (weeks) Precedes A (start) 1 B, C B 1 E C 4 F E 2 F F (end) 2 - The AOM project diagram is as given below:arrow_forwardWith all the problems companies are currently facing, why do so many choose to expand into international markets? What are the advantages of expanding beyond the domestic market?arrow_forwardPerform resource leveling. Assume that each task can be performed independently of the other tasks.arrow_forward
- Practical Management ScienceOperations ManagementISBN:9781337406659Author:WINSTON, Wayne L.Publisher:Cengage,
