MGT 314 Study Guide - Final Guide: Operations Management, Job Rotation, Cost Leadership
Document Summary
Om is the set of activities that creates value in the form of goods and services by transforming inputs into outputs. To create goods and services, all organizations perform three functions: marketing, production/operations, finance/accounting. The operations management process consists of: planning, organizing, staffing, leading, controlling. The 10 critical decisions of operations management: design of goods and services, managing quality and capacity design, process, location strategy, layout strategy, human resources and job design, supply-chain management, inventory, intermediate and short-term scheduling. 10% of annual increase 3 key variables: basic education, diet of labor force, social, capital overhead that makes labor available: transportation and sanitation. 38% of annual increase when capital invested per employee drops, expect drop in productivity. 52% of annual increase responsible for ensuring that labor and capital are effectively used to increase productivity: management. Represent the broad areas in which managers can take action to improve productivity.
