Microeconomics Business and Economics Discussion

2 FORUM AND 4 REPLIESbussiness forum Prompt:This week’s Discussion forum revolves around your present or past work experience and the concept of Capacity planning. Begin your forum posting a short description of the business enterprise and the products or services rendered. For purposes of this forum, let’s look at manufacturing as primarily product-oriented, even though there are elements of service involved. Likewise, let’s look at insurance, hospitality, food services, banking, retail, and military organizations as generally service-related, although there is evidence for a product offering in these businesses. Evaluate capacity within your this organization according to the following:How do generally define and measure capacity in the business you are assessing.Explain the importance of capacity planningWhat steps must be taken to resolve capacity constraintsHow do you assess the effectiveness of this organization’s ability to manage capacity.If you have minimal experience with evaluating capacity within the organization, feel free to interview an individual for their input regarding these four questions. 1. Provide examples of a variable that affect the supply curve and a variable that affects the demand curve.2. Think of a product or service that use in your everyday life or workplace. Describe how the supply or demand of this product might be changed.