MGT 305
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MGT 305
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News & Info (Updated 11/18/2009 09:27 PM)Study notes for week 14 and week 15 have been posted. On Monday the day sections will complete JIT and briefly tour TQM. Then it's on to Thanksgiving Break! An extra credit opportunity related to what it takes to be great is now available. Worth up to 2 points of extra credit toward the final exam. Due Wednesday, December 2nd. You can work in groups of two if desired. Practice problems related to layout (#3 only) and inventory/MRP have been posted. You'll be responsible for doing similar on the final exam. Here's the inventory:sales data shown in class. What do recent data suggest about the state of the economy? For those thinking about the end-of-term project option, here are some thoughts on content and format. I've also posted a couple example projects that earned high marks (I also have plenty of hardcopy examples in my office that you can look at). If you're wondering about whether a particular organization would be appropriate, come see me. As a general rule, any organization (for profit/not for profit, big/small, public/private sector) works. The challenge for some is narrowing the scope to something manageable. For example, analyzing the operations of all of Procter & Gamble would be very difficult, while assessing the operations of P&G's customer service division in downtown Cincy is a much more doable scope. Should you do the project, it's due the final day of class, Wednesday December 9th. Baffled by how to calculate the percentage difference between two values? You'll need to learn how to be a better manager. Click here for a tutorial. Fall 2009 potpourri (archives). Interesting recount of the Fall 2008 financial meltdown...Inside the auto bailout...Projecting unemployment trends a decade forward...Mr P opines on the current market situation...China buys the world (slide show)...Is getting laid off better than being retained?...China's innovation deficit...Refiguring retail operations for slow economic times...How Dr Pepper is competing against Big Soda...Focusing operations at Timken...Lower world industrial output and capacity utilization...Dell's extreme makeover...Pitfalls of clipping coupons...Examining elements of deflation...Trying to revive a factory in decline...Alternative beer goes mainstream...Current multinational company financial may not necessarily be good for the economy...The art of hyperinflation...Clutch time for GM...Which currency is most likely to spawn a crisis?...Overconfidence bias and the financial crisis...JetBlue's strategic operating decisions...Are we in a recession or a depression?...The growing industry of car sharing...The senseless recovery...Banks are shying away from lending...What must occur before we see sustainable economic recovery...Two sides of big government spending...Is the Dollar really doomed?...Mapping various investment styles...Arguing in favor of a double dip recession...Mr P explains the monetary system mechanism...The paradox of 'optimisim bias'...Remembering 9/11...Interesting data on oil & gas...Issues with China's economic structure. Due dates for upcoming assignments appear below. Assignments must be submitted in memo format and stapled. No late work will be accepted.
Here is the US capacity data shown in class. What do current levels of capacity utilization suggest about the current state of economic activity? Here is the U.S. productivity data shown in class. What is a good rule of thumb for the long term average annual productivity improvement in the U.S.? Has long term (e.g., 50 yr) productivity improvement in the U.S. been going up, going down, or basically stationary (no up or down trend)? Since about 1980, which as generally shown higher annual productivity improvement: manufacturing or non-farm business? What does this imply? LinkedIn is one way to structure to your professional network. Friend me if you'd like. One problem with going 'textbook free' is that students may be in need of books for citations, help on problems, etc. Check out the Book Borrow. These are some textbooks and other reference materials you might find useful. Dates on some books are older but they can still serve as perfectly good references for memos, problems, projects. Stop by my office if you'd like to borrow one of these... Here's the Fortune subscription info. Looks like the student rate is $10/yr. Could be worth a look... The MGT 305 Wall of Achievement has been updated. Could be a worthy goal this semester... Interested in learning more about financial markets? Check out Minyanville (it's free!). Minyanville was founded by my Wall Street friend Todd Harrison to help people learn more about markets so that better financial decisions can be made. There is a University of Minyanville section designed to help newcomers learn about financial markets while remaining connected to the current flow (important for learning). Minyanville also features audio and video about business and markets. Hope to see you and your friends at the 'Ville. In case you're interested, here's a useful site for tracking commodity prices (something that operating managers involved in supply chain mgt routinely do). Commodities are broken into various categories including energy (e.g., crude oil, natural gas, heating oil, unleaded gasoline), grains (e.g., corn, soybeans, wheat), softs (e.g., sugar, cotton, coffee), industrial metals (e.g., copper, aluminum), and precious metals (e.g., gold, silver). There is also the Commodities Research Bureau Index (CRB). What has been the overall direction in commodity prices over the past few years?
Our Vision The Haile/US Bank College of Business at Northern Kentucky University will be the preferred choice of students, faculty and organizations in our region, known for excellence in practical instruction, applied research, and public engagement.Our Mission Our primary mission is to prepare our students to contribute positively to their organizations and communities. We educate future leaders to perform effectively and ethically in a global environment as professionals in business, public, and social enterprises. Our programs are strengthened by diversity among our students and faculty. Our faculty and students actively engage in scholarship that is relevant to our academic programs and to the business community. We value all types of rigorous scholarship, with a primary focus on applied and pedagogical intellectual contributions. We leverage partnerships between students, faculty and the community to continuously improve the educational experience and to enhance the integration of scholarship and public engagement to classroom learning. Our public engagement efforts are designed to enrich our communities. Assurance of Learning The College of Business has established learning outcomes for all its majors. All business majors share some learning outcomes, and some learning outcomes are specific to the majors. MGT 305 is designed so that graduating business majors can demonstrate achievement of the following learning objectives:
Course Objectives This is a “survey” course, designed to introduce the student to the concept of operations management (OM) and how it fits into business. Upon completion of this course, you should be able to:
Catalog Description 3 credit hours. Concepts of operations in production and service organizations; application of quantitative and qualitative techniques to quality, human resources, forecasting, inventory, and process improvement problems. Prerequisites: MAT 111, MAT 212; junior standing Text (Optional) Stevenson, W.J. (2009). Operations management, 10th ed. New York: McGraw-Hill. (older versions ok) Course Policies a) Grading Components and Determination
Exams. A combination of short answer, essay, and problems. You’ll have some choice. Bring bluebooks. Project. Alternative to final. Strategic assessment of an operation. Choose an organization. Define and classify the organization’s operating processes. Identify key operating decisions made by management. Assess the effectiveness of these decisions in supporting the business’s ability to compete. Will coalesce as the term unfolds. A way to demonstrate connection with classroom concepts. Assignments. Choose 3 of the assignments posted during the term (selection criteria to be discussed in class). Memo format (to be discussed). Some choice permits selection of topics that interest you. You’ll also get feedback on business writing style. Work in groups of two or more on each assignment. Professionalism. This portion of your grade is my assessment of your engagement in class. It is termed 'professionalism' since it is meant to evaluate mannerisms that you should exhibit as an effective manager. Extra Credit. Will be possible as term unfolds. More later. b) Attendance Attendance will not be formally taken. However, your attendance and participation will impact your professionalism mark. Moreover, due to the nature of our class discussions, you WILL struggle if you miss class. c) Student Rights and Responsibilities Maintenance of academic standards and integrity includes the obligation not to cheat or plagiarize. A student who uses a dishonest or deceitful means to obtain a grade is guilty of cheating; a student who submits another’s work as one’s own without adequate attribution is guilty of plagiarism. Identical work will earn a grade of zero. Students are fully responsible for learning the course content and material disseminated in the class. Absences do not release you from this responsibility. Please see the NKU Code of Student Rights and Responsibilities at www.nku.edu/~deanstudents. For cheaters, I will enforce school policies to the fullest extent possible.d) Syllabus Changes and Current Information: Class Website Dates and assignments documented in this syllabus are subject to change at my discretion, meaning that this paper version of the syllabus will become outdated as the term progresses. While I’ll try to announce significant changes to our syllabus during class meetings, the electronic version of the syllabus posted on the class website will be constantly updated and provides a definitive reference. Indeed, our class website is your best source for current course information. Refer to it often… e) Guiding Policies/Principles
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