MGT 3200 Lecture Notes - Lecture 1: Business Process Management, Operations Management, Quality Assurance
Document Summary
Operations is that part of a business organization that is responsible for producing goods and/or services. The ideal situation for a business organization is to achieve an economic match of supply and demand. Finance: responsible for securing financial resources at favorable prices and allocating those resources throughout the organization. Marketing: responsible for assessing consumer wants and needs, and selling and promoting the organization"s goods or services. Operations: responsible for producing the goods or providing the services offered by the organization. Operation management is the management of systems or processes that create goods/provide services. Operations and supply chains are intrinsically linked and no business organization could exist without both. Supply chain: sequence of organizations their facilities, functions, and activities that are involved in producing and delivering a product or service. Supplier"s suppliers > direct suppliers > producer > distributor > final customers.
