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Q: Briefly describe how uncertainty affects capacity decisions in managing capacity?
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What is capacity management in service sector?

Capacity management is the ability to balance demand from customers and the ability of the service delivery system to satisfy the demand . This places an emphasis on understanding first the nature of demand by forecasting (Lovelock, 1984) and second the options for managing capacity to meet the expected demand. Sasser (1976) has suggested two basic strategies for managing capacity in services of "Level" and "Chase", the former applicable where capacity is limited and hence the focus is on influencing demand to be in line with capacity, and the latter strategy being possible when supply can be changed to keep in line with demand. Capacity management in services to match supply and demand has a direct influence on the ability of the service delivery system to achieve service quality and resource productivity targets. Capacity management in service operations is a testing activity for operations managers because the nature of the service delivery process and the involvement of the customers in the process restricts the normal options open for controlling the process to match supply with demand; namely, altering the capacity, holding and inventory in anticipation of demand, and requiring customers to wait for the service.


The differentiate between the economics and accounting?

There is a huge difference between the 2. Accounting is the process of managing money while making analytical decisions about money. Economics is the study of incentives i.e. how and why things are produced and to whom it is produced


What is the role of a managing director?

The role of a Managing director is to manage the whole corporation and direct the organisation to meet the over aims and objectives.The skills needed:effective communicationexcellent leadership and managementable to interact with anyonehave critical thinkinggood with problem solvingEducation wise;should have a masters or bachelor's degree in business studies or business administration.The age of the managing director can change in the future, but far more experience and as technology is coming apart of organisations therefore the managing directors will need to have more skills using technology like ICT equipment, camera meetings and better leaderships skills as the managing director will of gained them.


What is managing extrapolation in strategic management?

what is mean of extrapolation in management practise?


What is the notion of efficiency?

Efficiency = quick and effective way of managing time and resources.

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