Question 1: Discuss the advantages and disadvantages of outsourcing labor or component parts in the production process.
Question 2: The theory of constraints can identify bottlenecks. How does one go about identifying and managing bottlenecks?
Question 3: Net present value and internal rate of return are two methods that allow for explicit consideration of the time value of money. What is the difference between the discount rate used for net present value computations and the internal rate of return? Explain your answer.
Question 4: Contrast the advantages and disadvantages of centralization vs. decentralization.
Question 5: Explain what ISO 9000 is and is not.