ADMS 1010 Lecture Notes - Lecture 7: Value Chain, Scientific Management, Global Sourcing

• School: York University
• Department: Administrative Studies
• Course: ADMS 1010
• Professor: Paulette Burgher

Document Summary

Acknowledging limitations makes your writing more persuasive. Closed systems are fully self-contained and self-sufficient (ex. Open systems interact w/ and rely on the environment around them (ex. Busi(cid:374)ess as a(cid:374) ope(cid:374) s(cid:455)ste(cid:373) (cid:272)a(cid:374) (cid:271)e (cid:396)ep(cid:396)ese(cid:374)ted as a (cid:862)(cid:448)alue (cid:272)hai(cid:374)(cid:863) (cid:894)aka the suppl(cid:455) (cid:272)hai(cid:374)(cid:895): Value chain: a sequence of (industry-specific) activities through which firms add value to a product or service delivered to the market. You (cid:272)a(cid:374)"t (cid:271)e (cid:271)ette(cid:396) tha(cid:374) othe(cid:396)s at all the a(cid:272)ti(cid:448)ities. Focus on those activities that can sustain a competitive advantage. Developed by fredric winslow taylor c. 1900. Standardization - one best way to perform a task. Lecture 7 - week 8 - march 06, 2017 efficiency. The industrial process developed by henry ford to produce the model t automobile. Moving assembly line: workers remain in place and perform a single task while cars and parts move along a line. Higher wages: so employees can afford the product.