GMS 401- Final Exam Guide - Comprehensive Notes for the exam ( 72 pages long!)

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 401
• Professor: Omid Jahidi

Document Summary

But the strategy is not often the cause. Strategies fail most often because they are not executed well. : three key points of execution, 1. Execution is a discipline, and integral to strategy: 2. Execution is the major job of the business leader: execution must be a core element of an organization"s culture. Inputs (buy make/create sell) outputs: capital (land, building, materials, equipment, facilities, labor, knowledge, time, transformation, buy/ make/create, sell, move, outputs, products, services. Operations: what is operation management (om: 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 transformations processes that create value. In manufacturing firms, the production activities that create goods are usually quite obvious. Organizing to product goods and services: essential functions, 1.