COMMERCE 1E03 Study Guide - Final Guide: Facility Location Problem, Telecommuting, Quality Control
11 Apr 2017
School
Department
Course
Professor
Document Summary
Canada is a large industrial country with many industries. Given that most of our industry is focused on natural resources we can experience significant growth in the times when world economies are growing. Research and development is defined as work directed towards the innovation, introduction, and improvement of products and processes. When a technological know-how is developed, sold, distributed, and used, then it becomes an innovation. Private industry, canada universities, hospitals, and government labs spent a combined . 6 billion in 2014 on r&d. The competition forced companies to greatly alter their production techniques and managerial style. Many firms are now as good as or better than competitors anywhere in the world. Maintain close relationships with suppliers and other companies to satisfy customer needs. Adopt production techniques such as enterprise resource planning, computer integrated manufacturing, flexible manufacturing, and lean manufacturing. Production is the creating of goods and services using the factors of production: land, labour, capital, entrepreneurship, and knowledge.
