GMS 401 Chapter 1: Ch 1;challenge of OM
11 Oct 2017
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Document Summary
All productive enterprises use operation management (om: all production of goods and services require om, and with efficient production use application of concepts and tools of om. Operations: set of activities that creates value in the form of goods and services by transforming inputs into outputs. Activities creating goods and services take place in all organizations. 3 key points of execution: execution is a discipline, and integral to strategy, execution is the major job of the business leader, exe(cid:272)utio(cid:374) (cid:373)ust (cid:271)e a (cid:272)ore ele(cid:373)e(cid:374)t of a(cid:374) orga(cid:374)izatio(cid:374)"s culture. Operation management (om): design (planning, organizing) execution (staffing, leading), and improvement (controlling) of these transformation processes that create value; activities related to creation of goods and services through the transformation of inputs and outputs. Supply chain: global network of organizations and activities that supplies a firm with goods/services (organizational chart) Services: economic activities that typically produce an intangible product (education, entertainment, financial and health services)
