Applying Business Concepts in Real Life Essay

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Chapter 5: Projects1. Organizing the Project Teama. Definition: This involves assigning roles and responsibilities to team members based on their skills and the project's requirements. b. Context: In a software development project, team members could be assigned roles such as project manager, developers, testers, and designers. c. Personal Example: In a group assignment at university, we divided tasks based on each member's expertise; I was responsible for data analysis because of my strong Excel skills.2. Organizing the Project Tasksa. Definition: This refers to breaking down the project into smaller, manageable tasks and assigning them to the appropriate team members. b. Context: In construction, this could involve breaking down the project into stages like design, foundation laying, building, and finishing. c. Personal Example: When planning a personal event, I listed out all the tasks such as sending invitations, booking a venue, arranging catering, and then assigned them to friends and family.3. Network Planning Modelsa. Definition: These are graphical representations of a project's tasks and the relationships between them, helping in planning and scheduling.

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b. Context: In project management, tools like PERT (Program Evaluation and Review Technique) or CPM (Critical Path Method) are used. c. Personal Example: For planning a vacation, I created a flowchart showing all the activities and their dependencies, helping me to schedule everything efficiently.Chapter 6: Manufacturing Processes1. Three High Level Production Processesa. Definition: These refer to the three main types of production: job production, batch production, and flow production. b. Context: A custom furniture maker uses job production, a bakery uses batch production, and a car manufacturer uses flow production. c. Personal Example: When making handmade gifts, I use job production as each item is made from start to finish individually.2. The Organization of Production Processesa. Definition: This involves structuring the various processes in production to ensure efficiency and quality......

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