BU385 Chapter 1-2: Bu 225 - Fundamentals of Operations - Chapter 1 & 2 notes
Document Summary
Operations management - the management of activities and resources that create goods and provide services. Goods and services bother involve scheduling of activities, motivating employees, ordering and managing supplies , selecting and maintaining equipment and satisfying quality standards **** success depends on planning. Efficiency operating at minimum cost and time. Effectiveness achieving the intended goals ( quality and timeliness. Large percent of company expense goes into operating ( purchasing materials and work force salaries ) Small reduction in op cost can result in large profits. Management jobs are involved in ops all other ares of organization are interrelated with operations. Uness operations and marketing work together , marketing may promote goods that operations cannot profitably deliver or ops may turn out goods that have no demand finance &ops ops need funds for materials , building m new equiptment. Ops is the core of most organizations responsible for the creations of goods /services.
