BAB100 Lecture Notes - Lecture 10: Root Mean Square, Facility Location Problem, Critical Path Method
Document Summary
Canada - a large industrial country; one of the largest producers of forest products in the world. Ab, sk, nl, ns, bc - oil, natural gas, coal. Research and development (r&d) - work directed toward the innovation, introduction, and improvement of products and processes. Technology - know-how, knowing how to make and use the tools for the job. It"s the combination of technology w/ markets that creates innovation and gives a competitive edge. Innovation - a new product or process that can be purchased; an idea may lead to an invention, but it cant be called an innovation until it is commercialized. Foreign competitors have been successful at entering the north american market for basic products b/c of superior production techniques. Creating of goods and services using the factors of production: land, labour, capital, entrepreneurship, and knowledge. Production management = management activities that helped rms create goods operations management.
