BU121 Study Guide - Final Guide: Greenwashing, Walmart, Document Management System
Document Summary
Take inputs (factor of production) and convert them into outputs. Quality of the work as well as the service. Implication for operations: 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. Econ reality no longer most effective option since we live where there is constant change and customers want products tailored to the, Stable market conditions little flexibility to make changes. Efficiency vs effectiveness focus in efficiency (lower pride-reduce cost and time: economics of scale) rather than effectiveness ( speak to consumer) Constant change flexible, allows to meet market changes. 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: triple bottom line meaning and application.
