ISYS111 Lecture 3: 3
17 Jun 2018
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If operations add value to the original cost of resource inputs, then a business
organisation can earn a profit, that is sell a product for more than the cost of
making it. Value is created when an organisation’s resources are used in the right
way and at the right time and at minimum cost to create high-quality goods and
services for customers.
There are a variety of performance measures used.
Productivity – the quantity and quality of work performance, with resource use
considered.
Performance effectiveness – an output measure of task or goal accomplishment.
Performance efficiency – a measure of resource cost associated with goal
accomplishment.
If productivity in the form of high levels of performance effectiveness and
efficiency is a measure of organisational success, managers are largely responsible
for ensuring its achievement. It is their job to successfully mobilise technology and
talent by creating work environments within which others work had and perform
to the best of their abilities.
Management – the process of planning, organising, leading and controlling the use
of resources to accomplish performance goals.
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Document Summary
If operations add value to the original cost of resource inputs, then a business organisation can earn a profit, that is sell a product for more than the cost of making it. Value is created when an organisation"s resources are used in the right way and at the right time and at minimum cost to create high-quality goods and services for customers. There are a variety of performance measures used. Productivity the quantity and quality of work performance, with resource use considered. Performance effectiveness an output measure of task or goal accomplishment. Performance efficiency a measure of resource cost associated with goal accomplishment. If productivity in the form of high levels of performance effectiveness and efficiency is a measure of organisational success, managers are largely responsible for ensuring its achievement. It is their job to successfully mobilise technology and talent by creating work environments within which others work had and perform to the best of their abilities.
