MGMT 1 Chapter Notes - Chapter 9: Six Sigma, Facility Location Problem, Videotelephony
Document Summary
Workers are so productive that only need few workers to produce more goods. Some areas of country: enjoying economic growth from manufacturing, but others experience declines. Key: adapt to new realities & attract new manufacturers. Key: train new workers in new production processes. Developing countries using u. s. technology, helps reduce poverty & hunger in developing countries & opens new markets. U. s. : no longer strike fear in heart of foreign competitors. Production : creation of finished foods & services using factors of production. Production management : management activities that helped firms create goods. Operations management : specialized area in management that converts/ transforms resources, human resources like technical skills & innovation goods/ services. Creating good experience for those who use service. Delighting customers by anticipating their needs quality standard for luxury hotels & other service businesses. Knowing customer needs & satisfying them: different things. Form utility : value producers add to materials in creation of finished goods & services.
