Textbook Notes (367,844)
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MGTA02H3 (363)
Chapter 1

Chapter 1 Textbook notes

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Management (MGT)
Chris Bovaird

MGTA04 01 Chapter 1: Producing Goods and Services - Service operations are production activities that yield tangible and intangible service products. (e.g. services such as entertainment, transportation, and education) - Goods production are production activities that yield tangible products (e.g. products such as radios, newspapers, buses and textbooks) :K,9408!74:.9L430,3%4, (pg. 6 7) - The term production historically referred to the making of physical goods like automobiles, toys, toothpaste etc. We now also use this term for services - Service-sector managers focus less on equipment and technology than on the human element in operations because success or failure depends on how employees deal with customers. This is also a key difference between production and service operations - Electronic communications are a key component in winning and keeping customers (e.g. orders are placed faster, delivery times are shrinking and schedules are accelerated) The Growth of Global Operations - Global competition has reshaped production into a faster-paced, more complex business activity - The factory remains the centrepiece for manufacturing but the smoke, grease, and danger have been replaced by glistening high-90.K2,.KL308.425:9078,3.O0,374428 - Production operations have also become much more environmentally friendly - New technologies allow machines to run more cleanly, quickly, and safely, and to operate on a global scale - Newer machines are able to log onto the internet and adjust their own settings without human help as well as communicate with other machines in the company (via an intranet) - %K08082,7906:L52039,70,-O094894705071472,3.0,9,9K,9,70,;,LO,-O09408N9458 around the world. Creating Value Through Production (pg. 7 12) - Products provide businesses with both economic results (profits, wages, goods purchased from other companies) and non-economic results (new technology, innovations, pollution) - Term production has historically been associated with manufacturing, it has been replaced in recent years by the term operations which reflects both services and goods production - Operations (or production) management is the systematic direction and control of the processes that transform resources into finished goods and services (responsible for creating utility for customers) - Production managers are managers who are responsible for ensuring that operations processes create value and provide benefits (they bring in raw materials, equipment, and labour together under a production plan that effectively uses all the resources available) - Not all production managers work in factories, farmers are also production managers where they create utility by converting soil, seeds, gas etc. and other inputs into beef cattle which create milk Operations Processes - An operation process is a set of methods and technologies used in the production of a good or a service www.notesolution.com
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