BU111 Midterm: Lectures 1-11 - First Midterm This note includes all topics discussed in class, in great detail. A great way to study and review all the subjects Jim touched on in class. Contains theories, definitions and examples for every unit. Notes include points Jim
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BU111 Full Course Notes
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Document Summary
It is the sum total of all activities involved in the creation and distribution of goods and services for private profit. All activities refers to: primary 1. The creation of tangible goods or services, referred to as operations functions 2. All activities are based around the profit motive, everything is done to make money. Helps simplify understanding of a complex subject 2. Structures or frames our thinking for the complex topic 3. Shows the impacts and interactions of all the parts of the model. *it is the people that are responsible for meeting all other success factors, therefore they are most important* It is the job of the manager to help his or her respective organization achieve these 5 factors. Stakeholders provide a business with the capacity to operate. Stakeholders therefore have legitimate expectations of a business. Therefore the business must recognize its responsibility to address stakeholder"s expectations. Demotivated and uncommitted employees (low creativity, low quality), therefore poor financial performance.
