MGM101H5 Chapter : nickels ch 10

• School: UTM
• Department: Management
• Course: MGM101H5
• Professor: James Appleyard

Document Summary

Lecture 5: producing world-class goods and services - nickels ch. Research and development (r&d) work directed toward the innovation, introduction and improvement of products and processes. Canadians emphasized the following to regain competitive edge: Maintaining close customer relationships with suppliers and other compaines to satsify customer needs. Adopting production techniques such as enterprise resource planning, computer-integrated manufacturing, flexible manufacturing and lean manufacturing. Production the creation of finished goods and services using the factors of production: land, labour, capital, entrepreneurship, and knowledge. Legal, medical, entertainment, broadcasting, accounting, finance, management consulting. Production management all of the activities that managers do to help their firms create goods. Manufacturing to services = production to operations (production of both goods and services) Operations management specialized area in management that converts or transform resources (including human resources) into goods and services. Automobile plant: operations management transforms raw materials, human resources, parts, supplies, paints, tools, and other resources into automobiles.