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Management Lecture 1.docx

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Management (MGT)
Chris Bovaird

Management Lecture 1MGTA04Outline Midterm 34 short answers and a Final Test 45 short answersSlide 1Managing production of goods in a business how to do it How to accomplish What is the real role of management throughout this whole thingThe Production ProcessBacking Bread Raw materials flour oil salt yeastEquipment Bread pans oven Timing Time in oven cooling Packaging getting the bread ready to shipShippingsending the bread to the customerAll steps need to be managed If making best yeast of steps we want to minimize the time dont waste time minimize the steps we have to go though and increase the throughput dont want the oven sitting ideal we want to sell as much bread as we can make we want to make as much bread as equipment can produce That is why business Management is important Best use of about best use of labour financeOperations ManagementSystematic direction and control That transforms resourcesInto finished goods and servicesKey ProcessesPlanning production by mobilizing materials equipment labour and informationScheduling operation to make efficient use of resourcesControlling the work costs quantity and quality of productioneach step role of needs business managementplanning to produce a quantity of an item you need the proper amount of resources to make thosegoods or services Cannot run out of resourceshave to make sure everyone is doing their dutyjobs Control what people do to some extent Production planning when people make mistakes what do you do with mistakesOperations ManagementThe different between producing goods and producing servicesServices are more customized to the clientServices are much harder to store and thus keep in inventoryProviding services means engaging people skillsService quality is not the same as the quality of the work providedProduce what you are producing and hope people will want them A doctor does not market his services in that way Services are supposed to be responsive to customers needs slightlyCustomized production of goods started in North America with the AutomobileSegment market style of car changes every yearLaptops dell you can customize it production becomes more like a serviceOperation Planning
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