Class Notes (839,091)
Canada (511,184)
MGTA02H3 (143)
Lecture

MGTA04 NOTE.doc

16 Pages
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Department
Management (MGT)
Course Code
MGTA02H3
Professor
Chris Bovaird

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Description
MGTB04 Intro to management NOTESProduction CHAPTER 1Operation1Operation definitionathe company must offer things that they claimed to offerbthe direction and control that transform resources into finished goods the management of the creation of goods and services using the factors of productions take raw material factors of production to make value or utilitycIncluding both goods and services but products means only goods in CA 80 of work force are in services691 Cdn GDP is serviceslegal services finance consulting services education transportation accounting medical hospitality business services2 Services VS Goodsastorablebhigh contact and low contact customer concerncdifferent services and same goods3 Business an organized effort to provide things that customers want to buy the ability to provide things that people want to buyadd value4 Operation manager make things make things happenademand planning forecast how much will be needed to makebcapacity planning ensure spaces and workers to meet demandcLocation planning find the best place to get the material good employee and transportationdLayout planning arrange storefactory to the smooth material floweSchedule start and finish on timeCHAPTER 2 Productivity quantity1 Productivity 1Productivityresourcesproductsinputsoutputs2National productivity GDPworkers or populationMeasure how effective the nations economy isproductive when there are plentiful high quality cheap factors of production3GDP per capita per people in the country 4Business productivityhigh ratio high profitoutputinput labor money materialProduct of services5Common ratiosManufacturing labor hours productsRetailing sales square footRestaurant revenuetable revstore6Why productivity important More time and more material more cost but operation seek the best way to produce2 Quality1Qualitycustomers expectation Definition a product fitness for use in terms of offering the feature that people wantsmeeting surpassing a consumers want2Fewer cost more additional revenue No return repair less time and bureaucracyeasy sales and return customerscharge more 3Why importantDemand repair refund stop buying and tell others3 QualityproductivityDo it right to meet expectation few defects and repairsTotal quality management every is responsible and should do it right at first and then afterCHAPTER 3 Management and information system managing information1 Data VS information VS knowledgeData raw facts and figuresno analysis and context Information data with analysis and context Knowledge through education and experience the information used for the making decisions2Management information system MISSystem support a manager by providing daily report schedule plans and budgetSystem that allow managers to record data analyze and using the data to get the information and acquire knowledge3information systemAssemble data analyze data to get infodistribute info people get knowledge4Gordon Moorecofounder of intel Moores lawPCsinternet and www World Wide WebWorld wide web is a part of internetAccounting Marketing Chapter 6 Understanding marketing process and consumer behaviorMarketing Definition planning and executing the development pricing promotion and distribution of ideas good and services to create exchanges that satisfy both buyers and sellers objectives Marketing concept the idea that the whole firm that is directed toward serving present and potential customers at a profit1 Value Value and satisfactionValue and satisfaction are the things that attract people most thus marketing focus on increasing value and satisfaction Value relative comparison of a products benefits versus its costbenefit cost both benefit and cost not only contain material things but also the emotional stuffsValue and utilityUtility the ability of the goods and services to satisfy humans need and want4 kind of utility1 Time utilityfestivals2 Place utility the place of the store3 Ownership utilitywhen selling products
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