MGTA02H3 Study Guide - Final Guide: Investment, Gross Margin, Global Positioning System

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25 Mar 2011
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MGTA02H3 Full Course Notes
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Service operations: provide tangible and intangible service products (e. g. entertainment, transportation) Goods production: provide tangible products (e. g. newspapers, buses) Operations (production) management: systematic direction and control of the processes that transform resources into finished goods. management of the creation of goods/services using the factors of production (land, labour, capital, entrepreneurship) Production managers: plan, organize, schedule, control responsible that operation processes must create value & provide benefits (e. g. farmers) Operations process: set of methods & technologies used in production. Fabrication- alter the form of a product (cut something, bend it) Transport- moving raw material/product from a to b. high-contact: cannot be provided without the customer being physically in the system (e. g. transit systems) low-contact: can be provided without the customer being physically in the system (e. g. lawn care services) Quality of work does not equal to quality of service. Ensure enough time, money, factory space, warehousing, employees, to meet demand.

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