You should be able to: LO 2.1 List several ways that business organizations compete LO 2.2 Name several reasons that business organizations fail LO 2.3 Define the terms mission and strategy and explain why they are important LO 2.4 Discuss and compare organization strategy and operations strategy and explain why it is important to link the two LO 2.5 Describe and give examples of time-based strategies LO 2.6 Define the term productivity and explain why it is important to organizations and to countries LO 2.7 Describe several factors that affect productivity Chapter 1: Learning Objectives You should be able to: LO 1.1 Define the terms operations management and supply chain LO 1.2 Identify similarities and differences between production and service operations LO 1.3 Explain the importance of learning about operations management LO 1.4 Identify the three major functional areas of organizations and explain how they interrelate L 1.5 Summarize the two major aspects of process management LO 1.6 Describe the operations function and the nature of the operations manager's job LO 1.7 Explain the key aspects of operations management decision making LO 1.8 Briefly describe the historical evolution of operations management LO 1.9 Describe the current issues in business that impact operations management LO 1.10 Explain the importance of ethical decision making LO 1.11 Explain the need to manage the supply chain Chapter 4: Learning Objectives You should be able to: LO 4.1 Explain the strategic importance of product and service design LO4.2 Describe what product and service design does LO4.3 Name the key questions of product and service design LO4.4 Identify some reasons for design or redesign LO4.5 List some of the main sources of design ideas LO46 Discuss the importance of legal, ethical, and sustainability considerations in product and service design LO4.7 Explain the purpose and goal of life-cycle assessment LO4.88 Explain the phrase "the 3Rs LO 4.9 Briefly describe the phases in product design and development LO 4.10 Discuss several key issues in product or service design LO4.11 Discuss the two key issues in service design LO4.12 List the characteristics of well-designed service systems LO 4.13 List some guidelines for successful service design Chapter 3: Learning Objectives You should be able to: LO 3.1 List features common to all forecasts LO 3.2 Explain why forecasts are generally wrong LO 3.3 List the elements of a good forecast LO3.4 Outline the steps in the forecasting process LO 3.5 Summarize forecast errors and use summaries to make decisions LO 3.6 Describe four qualitative forecasting techniques LO 3.7 Use a nave method to make a forecast LO3.8 Prepare a moving average forecast LO3.9 Prepare a weighted-average forecast LO3.10 Prepare an exponential smoothing forecast LO3.11 Prepare a linear trend forecast LO 3.12 Prepare a trend-adjusted exponential smoothing forecast LO3.13 Compute and use seasonal relatives LO3.14 Compute and use regression and correlation coefficients LO 3.15 Construct control charts and use them to monitor forecast errors LO 3.16Describethekeyfactorsandtrade-offstoconsiderwhenchoosinga forecasting technique forecasting technique