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Final

BU121 Study Guide - Final Guide: Greenwashing, Walmart, Document Management System


Department
Business
Course Code
BU121
Professor
Roopa Reddy
Study Guide
Final

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1. Service vs manufacturing
How are the 2 similar?
-Take inputs (factor of production) and convert them into outputs
Category Service Manufacturing
input Person’s unsatisfied need or
Possession that requires care
Raw materials or
natural resources
How it’s done performed Produce
Judged on Quality of the work as well as the
service
Quality of the outcome
Customers role A part of process
Greater contact = bigger impact
High contact vs low contact
Removed from the process
Characteristics Intangible, value the experience
Customized to each customer needs
Tangible – can be stored
Can be customized or universal product
Implication for operations
2. Manufacturing
- slightly above demand, in case demand slightly more, you can
satisfy them
- ppl look for another store, we ask the manufacturer to produce
quickly and we have to pay higher price
- Seasonality - shift demand and capacity requirements by
pricing, smooth the demand by changing price
3. Service
how involved is the customer
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low contact - set capacity to average
demand: ppl won’t get upset, not really
make impact to biz
high contact - set capacity at peak demand: restaurant biz: peak demand: meal time: meet the
demand
2. Mass production vs mass customization in today’s economic reality
Econ reality – no longer most effective option since we
live where there is constant change and customers
want products tailored to the,
Mass production Mass Customization in new economic reality
Stable market conditions – little flexibility to make
changes
Constant change – flexible, allows to meet market
changes
Efficiency vs effectiveness – focus in efficiency
(lower pride-reduce cost and time: economics of
scale) rather than effectiveness ( speak to
consumer)
Customer driven – focus on effectiveness and what
is produced, customized to the tastes of customer
Repetition – simply repeat the same product over
and over
Customization and innovation – new ways to suit
changing customers, continue satisfy
3. Triple bottom line – meaning and application
Sustainability: meeting the needs of present without impeding ability of future generations to do the same
Triple bottom line: profit-people-environment
Exists a s “sweet spot” – place where corporate and societal interest intersect – a new way to measure the
bottom line
Next industrial revolution – can we follow nature law, what do you want to grow, design thing that restore
natural system using creativity
>>> Businesses are no longer just focused on bottom line for profit, but rather they are growing more
concerned with environmental impacts of their operations
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