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Lecture 1 Notes

Management (MGT)
Course Code
H Laurence

of 2
MGTA04-Lecture 1
Efficiency: increase output for same input
Effective: matching output to environment so people buy your goods
and services.
oMeasure of efficiency
oHow much is produced relative to the resources used to produce
oProductivity increases when more is produced for the same input
oMeasured on country wide basis
oLabor productivity = GDP/total number of workers
oIn Canada productivity is decreasing
Because we cant mechanize our industries (e.g. lumber)
oService industries are less productive
oTo increase productivity, we need to increase quality
Operations management:
Systematic direction and control that transforms resources into
finished goods and services
Key processes: plan, schedule and control
Capacity planning: making sure you can meet demand
Location planning: cost of bringing stuff in and out.
Operation scheduling: priorities, how to use time right order
Lead times: time you initiate
Lag times: time it actually takes to happen.
Services are customized to the individual
oSo its harder to store
oRequires in engaging people skills
oService quality is not the same as quality of work provided