Textbook Notes (362,837)
Canada (158,073)
MGTA02H3 (361)
Chapter 1

Chapter 1 - Study Guide (2nd edition)

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University of Toronto Scarborough
Management (MGT)
Chris Bovaird

Chapter 1 Study Guide Business: an organized effort to provide things that customers want to buy This implies: the ability to provide the things that people want to buy Operations: The direction and control of processesthat transform resources into finished goods OR The management of the creation of goods and services, using the factors of production - Operations managers make things or make things happen - Production implies that Canadian businesses make products Fact: 80% of Canadians work in services & services make up 69.1% of the GDP Service Operations: Production activities that yield intangible services Goods Production: Production activities that yields tangible products Operation (Production) Management: The systematic direction and control of the processesthat transform resources into finished goods and services Production Manger: managers responsible for ensuring that operations process create value and provide benefits Operation Process: A set of methods and technologies used in the production of a good or service Types of production are classified according to differences in their operations: - Goods manufacturing can be broken down according to the type of transformation technology: Chemical process: raw materials are chemically altered [steel, gas, paint] Fabrication process: mechanically alter basic shape and form of a product [metals, woodworking, textile] Assembly process: put together various components [electronics, cars] www.notesolution.com
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