BUAD306 Study Guide - Midterm Guide: Iphone 7, Emv, Gantt Chart

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Inputs----> transformation process------> outputs: inputs: raw materials and stuff, transformation process: the procedue and the use of equiptment, outputs: product and service, value add: difference of value of inputs and value of outputs. Role of operations is to add value: evolution of the process. Technology changes process: ex: new camera on iphone 7. This is a change ofinput: ex: amazon has increaed transformation process in the last 15 years, ie robots, codes etc, ex: cans have pop tab now; evolved because of our needs. Our needs change all the time: we always want to add value to this process, transformation process, business can have all of the following characteristics or only some. Logistical: point a to point b-how efficient? (physical or email) Physiological: physical change- eveolution- sturdy water bottle to cheap water bottle/ goign to dr for meds. Psychological: music, movies- chnages the way you feel or think.