MSOM 306 Study Guide - Midterm Guide: Lillian Moller Gilbreth, Joseph M. Juran, Pareto Principle

• School: George Mason University
• Department: Business, Minor in
• Course: MSOM 306
• Professor: Porter

Document Summary

Joseph juran: focused on quality in terms of reducing defects and being innovative, applied pareto principle. Understand the characteristics of and distinguish between goods and services. Be able to do a calculation of a project duration based on critical task durations and relationships: circles. Define and distinguish between critical tasks and those that have slack: circles. Define and understand relationship between critical path, wbs and gantt chart: done. Understand the overarching business strategy options that may be applied in isolation or in some mix; be able to distinguish among them: process, repetitive, product, mass customization. Theory of comparative advantage and its relevance to trade: comparative advantage is whether you want to outsource a task or keep it internal. Is it more advantageous to do one or the other. If one is productive, then that is the comparative advantage. Operations strategy and its relationship to corporate strategy.