FARE 3310- Final Exam Guide - Comprehensive Notes for the exam ( 58 pages long!)

• School: University of Guelph
• Department: Food, Agricultural and Resource Economics
• Course: FARE 3310
• Professor: Predrag Rajsic

Document Summary

Operations and productivity: production of goods and services requires om, production: creation of goods and services, om: set of production activities that create value in the form of goods and services by transforming inputs into outputs. Organizing to produce goods and services: three functions performed to create goods and services, marketing- generates demand for product, production/operations- creates product, finance/accounting- tracks how well the organization is doing. Om at a bank: teller scheduling, security, maintenance, cheque clearing collection, vault operations. Om at an airline: ground support equipment, management science, dispatching, crew scheduling, flying communications. Om at manufacturing: construction/maintenance, quality assurance, supply-chain management, production and inventory control, efficient use of space and equipment. What operations managers do: management process- planning, organizing, staffing, leading, and controlling. Heritage of om: eli whitney- interchangeable parts, frederick taylor- father of scientific management, henry ford- assembly line, walter shewhart- quality control, w. edwards deming- improved work environments.