MGTA02H3 Lecture Notes - Operations Management, Business Cycle

• School: UTSC
• Department: Management (MGT)
• Course: MGTA02H3
• Professor: Chris Bovaird

Document Summary

Minimize input expensive and maximize output in order to increase your profit. Part of operations managers are we doing the right thing in the right way. Producing ultimately the product and you want to produce it in the right way. Data raw facts and figures bits of information. Make sense of individual bits of data. Knowledge the useful application of information in order to make a. Information is data analyzed data put into context decision through education and experience. Knowledge use data and put it in context to make a decision. Information tech is about 5. 5 thousand years old. Moore"s law the cost of accumaliting and analyzing and sheer volume of data is skyrocketing 100 000 000 bits of info that the internet truly took off. Dintinction of internet and world wide web. Internet worldwide system of interconnected computers linked to communicate . A standardaized way of inputting info, receiving and transmitting info.