Task 2: (1000-1200 words) 6 Marks 2.1. Implementation of 3Es’ in your selected c

Question

Task 2: (1000-1200 words)                                                                                                   6 Marks

2.1. Implementation of 3Es’ in your selected company

     2.1.1. Efficiency                                                                                                                    0.5                             

     2.1.2. Economy                                                                                                                     0.5

     2.1.3. Effectiveness                                                                                                              0.5

2.2. Critical analysis of profit maximization and cost minimization in your selected company   1.5

2.3. Importance of 5 performance objectives of operation management                                   0.5

      2.3.1. Cost                                                                                                                            0.5

    2.3.2. Quality                                                                                                                        0.5

   2.3.3. Speed                                                                                                                          0.5

     2.3.4. Dependability                                                                                                            0.5

   2.3.5. Flexibility                                                                                                                   0.5

about amazon please(They are all important(

Explanation / Answer

2.1.1 Efficiency : it is a level of performance that describes a process that uses the low inputs to create the high outputs. Efficiency relates to the use of all inputs in producing any given output, including personal time and all the resources what we have.

2.1.2 Economy :it is a area network of producers, distributors, and consumers of goods and services in a local, regional, or national community.

2.1.3. Effectiveness : The degree to which objectives and goals are achieved and the extent to which targeted problems are solved

2.2 profit maximization : the main goal of the business is profit maximization .sales level where profits are highest. You might assume that the higher the sales level, the higher the profits .it is used to determine the best output and price levels in order to maximize its return

cost minimization : any company or organization want to reduce their cost in order to achieve objectives . the most cost effective method of delivering goods and services would be while maintaining a desired level of quality.

2.3. Cost : the amount of money that a company spends on the creation or production of goods or services which fulfill customer needs and wants

       Quality :every company maintain some standards when producing the products in the stage of manufacturing.

       Speed :it is the delivery time frame how quickly the product reach the customer premises .it will be crucial because if you are slow your competitor fulfill your customer needs.

       Dependability : a valuable quality in the work premises, whether it comes from your employees or vendors. Having a staff of dependable employees and managers helps your business run more smoothly and ensures that tasks can complete easily .

       Flexibility : individual and business needs to be met through making changes to the time (when), location (where) and manner (how) in which an employee works. Flexibility should be mutually beneficial to both the employer and employee and result in superior outcomes

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