BUSINESS MANAGEMENT Lecture Notes - Operations Management, Job Scheduler, Linear Regression
8 Feb 2022
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Document Summary
Operations is the set of activities that creates value in the form of goods and services by transforming inputs into outputs. Management is a distinct process performed with the use of resources in order to achieve the goals and objectives of the organization. Basic management functions: planning- thinking ahead of time, organizing- arranging the task and resources, staffing, leading- act of influencing and motivating, controlling- checking and monitoring. 7 m"s: manpower-most important asset, money, materials, machines, market-place of interaction, methods-how execute certain things, moments-time when you execute the plan. 2 types of goals and objectives: to gain profit, corporate social responsibility(csr)- their focus is to help the community. 2 classification of organization: business organization, non-business organization(ex. Produced and consumed separate from at the same time consumption. Scope of o. m: forecasting, capacity planning, scheduling, quality assurance, employee training and motivation, locating facilities, purchasing, industrial engineering, maintenance. The critical decisions/10 strategic om decisions: service and product design.
