MGTA02H3 Study Guide - Midterm Guide: Pepperoni, Interest Expense, Earnings Before Interest And Taxes
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MGTA02H3 Full Course Notes
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Service operations production activities that yield intangible services. (entertainment, transportation, education, and food preparation. ) Goods production production activities that yield tangible products. The growth of global operations: production operations are more environmentally friendly. Products provide businesses with both economic results (profits, wages, goods purchased from other companies) and non-economic results (new technology, innovations, pollution). Term production has historically been associated with manufacturing, it has been replaced in recent years by operations, a term that reflects both services and goods production. Textbook: the direction and control of processes that transform resources into finished goods. Chris: the management of the creation of goods and services, using the factors of production. Production managers responsible for ensuring that operations processes create value and provide benefits. Must bring raw materials, equipment, and labour together under a production plan that effectively uses all the resources available in the production facility. Forecast how much you need to make. (bad example: coffee shop that runs out of coffee. )
