[MGTA01H3] - Final Exam Guide - Comprehensive Notes for the exam (30 pages long!)

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29 Nov 2016
School
Department
Course
Professor
UTSC
MGTA01H3
FINAL EXAM
STUDY GUIDE
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Management Lecture 1
Slide 1
- Operations means producing creating, providing, supplying, the goods or the
service the business hopes to sell to the customer
- Without making the product, the product cant be sold
- Consequences of not putting the product the wrong way (so doing operations
wrong)
- Why the assembling of the products is called operations and not production
o Has to do with services
o Services are harder to make and supply
- This is what you need to understand when reading chapter 1 of the textbook
Slide 2
- Prof went to a coffee shop, doesn’t get enough coffee from the machines.
- Then he goes to get sugar, and there is no sugar left
Slide 3
- marketing and hiring people is important but if you are running a business,
you need to set aside time in the business plan to say lets talk about
operations
- Of course a coffee shop should have coffee but should also have a system in
place to simply remind people that inventory is being checked and that there
is enough fresh coffee
- If a business cant make sales and doesn’t have a plan about what to make,
when to make it, how much to make, how to make and who is making it, the
business wont last
Slide 4
- A business has to put aside time to make something
Slide 5
- You have to give people what you claim you are offering
Slide 6
- Toyota got excited about making lots of cars that they forgot to make cars
that work
Slide 7
- Operation management is the process of making things or making things
happen or making things work
Slide 9
- Production implies that Canadian business make tangible things (things we
can see, feel and touch)
- In the last 40 years, stopped referring to things as products and started
referring to things as goods. As opposed to something called services
- Reason we stopped with products or goods as we call them now is because
Canadians don’t make products or consume many goods. We consume lots of
services and provide services.
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