MIS 3305 Chapter Notes - Chapter 1: Operations Management
12 Sep 2016
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Document Summary
Object/event: confirmed or validated with a fact. System: a collection of parts that link to achieve a common purpose; systems are the primary enabler of cross-functional operations. Accounting records, measures, and reports monetary transactions. Finance deals with strategic financial issues including money, banking, credit, investments, and assets. Hr maintains policies, plans, and procedures for the effective management of employees. Marketing supports sales by planning, pricing, and promoting goods or services. Operations management manages the process of converting or transforming resources into goods or services. Sales performs function of selling goods or services. Production is the process where a business takes raw materials and processes and converts them into finished goods or services. Goods: material items or products that customers will buy to satisfy a want or need. Productivity: the rate at which goods and services are produced based upon output given total inputs. Knowledge workers: individuals valued for their ability to interpret and analyze information.
