COMM 103 Study Guide - Final Guide: Market Segmentation, Operations Management, Program Evaluation And Review Technique
12 Jun 2013
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Document Summary
Operations management: is the effective design, development, and management of the processes, procedures and practices embedded within an organization"s business system for the purpose of achieving its strategic intent. Process management: is the design and development of the work flow and connectivity of the transformation requirements (processes) needed to ensure that an organization"s products and services are efficiently produced and effectively delivered to the market place. Product/service management: refers to the variety of activities that commence with the design and development of potential new products in r&d and extend to post purchase support of products/services now in the hands of consumers. Value maximization: refers to maximizing the benefits (price/quality comparison) that an individual or set of customers will realize as a result of using the product or service. Primary activities: relate to the specific activities through which the development and transformation of a product or service occurs as it is produced and delivered to the market place.
