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MGTA02H3 (363)
Chapter 1

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Management (MGT)
Chris Bovaird

Chapter 1- Producing Goods and Services Terms: Service operations: production activities that yield tangible and intangible service products. Goods operations: production activities that yield tangible products. Creating Value through Production Terms: Operation (production) management: the systematic direction and control of the processes that transform resources into finished goods. They are ultimately responsible for creating utility for customers. Production managers: managers responsible for ensuring that operations processes create value and provide benefits. As demand increases, they must schedule and control work to produce amount required. Meanwhile they must control costs, quality levels, inventory, and plant and equipment. An example of a production manager who does not work in a factory is a farmer (converting soil, seeds, human labour and gas into agricultural products, livestock and related products (eggs, milk). They have the option of employing many workers to help them with the work, or use automated machinery in order to do most of it for them. Examples of Production System Farm: Inputs: land, tractors, equipment, labour, buildings, fertilizer, farmers management skills Transformation: cultivation of plants and livestock Outputs: food products, profit for owner, jobs for farmers family Jewellery Store Input: fashion-conscious customers, merchandise, sales clerks, showroom, fixtures, equipment Transformation: exchange of merchandise between buyer and seller Output: satisfied jewellery customers Tire Producer Inputs: rubber and chemical compounds, blending equipment, tire moulds, factory, and human skills Transformation: chemical reactions of raw materials Output: tires for autos, airplanes, trucks, trailers, and other vehicles Goods-Producing Processes Types of Transformation Technology: - Chemical Processes: raw materials that are chemically altered. Such techniques are common in the aluminium, steel, fertilizer, petroleum and paint industries. www.notesolution.com
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