Textbook Notes (376,041)
CA (165,793)
UTSG (10,921)
Rotman Commerce (1,004)
RSM100Y1 (431)
Chapter 11

Chapter 11-Producing Goods and Services

7 Pages

Rotman Commerce
Course Code
Michael Szlachta

This preview shows pages 1 and half of page 2. Sign up to view the full 7 pages of the document.

Loved by over 2.2 million students

Over 90% improved by at least one letter grade.

Leah — University of Toronto

OneClass has been such a huge help in my studies at UofT especially since I am a transfer student. OneClass is the study buddy I never had before and definitely gives me the extra push to get from a B to an A!

Leah — University of Toronto
Saarim — University of Michigan

Balancing social life With academics can be difficult, that is why I'm so glad that OneClass is out there where I can find the top notes for all of my classes. Now I can be the all-star student I want to be.

Saarim — University of Michigan
Jenna — University of Wisconsin

As a college student living on a college budget, I love how easy it is to earn gift cards just by submitting my notes.

Jenna — University of Wisconsin
Anne — University of California

OneClass has allowed me to catch up with my most difficult course! #lifesaver

Anne — University of California
Chapter 11: Producing Goods and Services -Service operations are production activities that yield tangible and intangible service products (ie entertainment, transportation, education and food preparation) - goods production is production activities that yield tangible products like radios, tvs, buses, textbooks etc. What does Production mean today? - production = the making of physical goods, and more recently, the term includes services - things that we needwant, like health care, are produced from service operations - service operations focusesmore on human resources, not the equipment and technology - successin service operations depends on provider-customer contact - the customers have to feel good about the service they receive in service operations THE GROWTH OFGLOBAL OPERATIONS: - the factoryfloors are still the most crucial part of manufacturing. however, factories today seem cleaner and more focused on technology - production operations are more environmentally friendly - firmstoday face continuous change- new technologies emerge for machines to run more efficiently. Online machines are automatically connected to the internet to adjust their own settings Creating Value through production - products provide businesses with economic results (profits, wages etc) and non economic results (new innovations, pollution) - products provide consumers with utility = the power of a product to satisfy a human want - there are 4 basic kinds of utility that are possible onlybecause of production - Time utility = making a product available at a time when consumers want it - place utility = making a product available in a convenient place - ownership (possession) utility = makinga product that consumers can take pleasure in owning (ie taking decorations to decorate your house) - form utility = raw materials become finished good, satisfies a humanwant - allof the aboveare possible because production makes products available in the first place - production has recently been replaced with operations because production doesnt onlyrefer to manufacturing anymore, it refers to services as well www.notesolution.com
More Less
Unlock Document
Subscribers Only

Only pages 1 and half of page 2 are available for preview. Some parts have been intentionally blurred.

Unlock Document
Subscribers Only
You're Reading a Preview

Unlock to view full version

Unlock Document
Subscribers Only

Log In


Don't have an account?

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.