1. In 200 words, state the seven steps, beginning with “Defining the Problem,” that an operations manager should perform when using simulation to analyze a problem.
2. Strategic Audit firm. Identify core competencies, resources, and capabilities found in FedEx. Explain how they make FedEx more competitive. (In your own words)
3. In 200 words, discuss the differences between decision making under certainty, under risk, and under uncertainty.