GMS 401- Final Exam Guide - Comprehensive Notes for the exam ( 114 pages long!)

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 401
• Professor: Dror Hermel

Document Summary

But the strategy is not often the cause. Inputs buy make/create sell outputs. Inputs: capital, materials, equipment, facilities, labor, knowledge, time. Operations is the set of activities that creates value in the form of goods and services by transforming inputs into outputs. Activities creating goods and services take place in all organizations. Operations management is the design (planning, organizing) execution (staffing, leading), and improvement (controlling) of these transformation processes that create value. In manufacturing firms, the production activities that create goods are usually quite obvious. Firms must create demand, satisfy that demand, and manage and monitor the financial flows associated with creating and satisfying that demand. Organizational charts: these slides (figure 1. 1) present example organization charts from three different companies. The areas in blue indicate the significant role that operations management plays in both manufacturing and service firms. Why study om: om is one of three major functions of any organization.