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5.Huon Aquaculture: Is their brand a promise? Part 1 requires you to perform a detailed analysis of a case organisation, ...

f a case organisation, their strategic environment, and their viable future strategies (a copy of the case will be made available via the Assessment folder on MyLO). You should supplement the knowledge gained from this case study with your own research on the organisation and the industry (or industries) in which the organisation competes. For Part 1, you are required to use a minimum of 5 references, which can be a mix of academic sources relating to theory and/or news or credible online sources that relate to the organisation. Resources: https://mylo.utas.edu.au/content/enforced/394803-AW_BBB_20S2_24212_0_0_0_1_1/Huon%20Aquaculture.pdf?_&d2lSessionVal=yOqpkUci2NYWHoJ8S4Sv4gozo&ou=394803 Required : Provide a written report to the Huon Aquaculture on the following: Industry General environment analysis The industry environment Competitive Environment Opportunities and Threats Resources - tangible and intangible Capabilities identification Core competencies SWOT analysis Current strategies Future strategies
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8.1. For this question, you will review a process, identify problem areas ( such as wastes, cycle time inefficiencies, etc), ...

inefficiencies, etc), and suggest an improved process. Open and read the Process Improvement (Final Q 1) document which describes the process steps in words and also includes a process map as a visual tool for understanding what's going on in each step. You will need to respond to the following three sub-questions: FINAL Q1: 3 Attachments are the Q1 ------------------------------------------------------------------------------------------------------------------------------------------------------------------ I need the 3 part question answered. This is everything in the question.. Understand that there is NOTHING INCOMPLETE, I have added everything that was sent to us. ------------------------------------------------------------------------------------------------------------------------------------------------------------------ a. Of the 9 process steps in the Process Improvement (Final Q 1) document, which specific steps in that process are experiencing lean wastes and/or process cycle time issues (please note, there is more than one step experiencing issues). In your response, name the process step, and/or the transfer interface between steps, and what waste(s) or cycle time issue is involved. Be sure to use standard lean/six sigma terminology that we used in the course when referring to any of the quality concepts; e.g., transportation waste when referring to situations involving a lot of moving around from one place to another. --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- b. Which of the process steps you identified in part a do you believe could benefit from process improvement and why? --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- c. What changes would you institute in the process to improve the steps you cited in part b of this question and describe how those changes improves the process. Be specific about which process step(s) your improving and thoroughly describe the improvement to that step. [Note: This question ties to what you decided was important in part b question above.] Also, when answering how you would improve a given process step, assume you have an unlimited budget and personnel resources and you can do mostly anything you want as long as it doesn't violate the laws of physics or the judicial system. Be cautious though because process improvement is designed to save time, money, and resources in doing the needed work.For example, automation is good, and also potentially expensive, so is it worth it for the improvement? - you will have to be the judge of that.
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Basic Concepts in Economics:

Economics have mainly five concepts

  • Purchasing power - 
  • Demand and supply
  • Scarcity of resources
  • Time value of money
  • Opportunity cost
     

Economics is divided into two types:
 

Microeconomics
 

Micro derived from the greek word “Mikros” meaning small ,so it deals with the choices of a single entity or say individual unit such as consumer, household, a firm , industry and price of a product.

Micro economics studies

  • Product pricing
  • Consumer behavior
  • Factor pricing evaluation   
  • Firms behavior
  • Industry’s location
     

Macroeconomics
 

Micro economics studies

  • National income
  • General price level
  • Employment level
  • Saving and investment level
  • BoP (balance of payment) & BoT (balance of trade)

     

Economics Homework Questions & Answers - Sample

Question 1: Which variable is not a part of macroeconomics ?

(a) Gross Domestic product

(b) Consumer Behaviour

(c) Total expenditure of a nation

(d) Inflation rate.

Answer :  b, as it is a variable of micro economics
 

Question 2:  Explain the variable of microeconomics.

Answer : Variables that deal with the individual units are the part of the microeconomics.

For example - 

  • Behaviour of a consumer
  • Production of a local business unit
  • Product pricing etc
     

Question 3: From where the word micro derived and what does it mean?

Answer : The word micro is derived from a greek word “Mikros” which means small.

 

Need help with microeconomics, macroeconomics and business problems?

Economics is a branch of social science that is vast in nature and covers a lot of theory aspects. Economics as a subject is commonly studied by high school & college students and is divided into the two primary branches commonly referred to as – micro & macro economics.  


Economics students not only deal with a theoretical concept but also need to comprehend data from the graphs, identify patterns, produce forecasting reports and even conduct deeper research to understand the models of economics such as the correlation between elasticity of demand and opportunity cost or how does monopoly impact the supply and demand of goods and services in a given industry. Understanding consumer behavior is another important aspect of economics and the most tricky one too. 


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