MGTA02H3 Chapter 1: Chapter 1

• School: UTSC
• Department: Management (MGT)
• Course: MGTA02H3
• Professor: Chris Bovaird

Document Summary

Service operations: production activities that yield tangible and intangible service products. Goods operations: production activities that yield tangible products. As a rule, service-sector managers focus less on equipment and technology than on the human element in operations because success or failure may depend on provider-customer contact. Instead of needing to maintain continuous mass production, firms today face constant change. Smart equipment now used in production process: with the internet, producers of both services and goods are integrating their production activities with those of far off suppliers and customer. Creating value t hrough product ion: products provide businesses with both economic results(profits, wages, goods purchased) and non-economic results (new technology, innovations, pollution), term productions" has been replaced by operations" because it represents both goods and services. Operations management: is the systematic direction and control and of the proceses that transform resources into finished goods and services. Thus productions managers are ultimately responsible for creating utility for customers.