Textbook Notes (363,140)
Canada (158,217)
MGTA02H3 (361)
H Laurence (23)
Chapter 1

Chapter 1 Business.docx

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University of Toronto Scarborough
Management (MGT)
H Laurence

Chapter 1 Producing Goods and ServicesService operationproduction activities that yield intangible servicesGoods productionProduction activities that yield tangible products What Does Production Mean TodayServicesector managers focus less on equipment and technology than on the human element in operationsSuccess or failure may depend on providercustomer feelings about the service The Growth of Global OperationsProduction operations have become much more environmentally friendlyFirms today face constant changeNew technologies allow machines to run more cleanly quickly and safely and to operate on a global scale Creating Value through ProductionProducts provide businesses with both economic results and noneconomic resultsProduction historically associated with manufacturing replaced by operationsOperationa term that reflects both services and goods productionOperations production managementthe systematic direction and control of the processes that transform resources into finished goods and servicesProduction managers are ultimately responsible for creating utility for customersProduction managersmanagers responsible for ensuring that operations processes create value and provide benefitsFarmers are production managersFarmers have the option of employing workers Operations ProcessesOperations processa set of methods and technologies used in the production of a good or a serviceWe can describe goods according to the kind of transformation technology they require or their operations process combines resources or breaks them into component partsWe can describe services according to the extent of customer contact required GoodsProducing ProcessesGoodmanufactiring processes classified in two different ways type of transformation technology and the analytic or synthetic nature of the transformation processTransformation technology transforms raw materials into finished goods
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