GMS 401 Lecture Notes - Lecture 2: Computer Virus, Cost Leadership, Vertical Integration

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 401
• Professor: Wally Whistance- Smith

Document Summary

Productivity, and operations strategy in a global environment. Better quality, higher productivity, lower cost and the ability to respond quickly to customer needs are more important than ever and the bar is getting higher. How effectively an organization meets the wants and needs of customers relative to others that offer similar goods or services. Organizations compete through some combination of their marketing and operations functions. The ratio of outputs (goods and services) divided by one or more inputs (such as labour, capital, or management) Efficiency means doing the job well -with a minimum of resources and waste. Note the distinction between being efficient, which implies doing the job well, and being effective, which means doing the right thing. A job well done helps us be efficient; developing and using the correct strategy helps us be effective. Labour, capital, and management: labour, which contributes about 10% of the annual increase, capital, which contributes about 38% of the annual increase.