GMS 401 Chapter Notes - Chapter 1: Lead Time, Scientific Management, Job Design

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 401
• Professor: Robert Meiklejohn

Document Summary

Process: a series of linked actions, changes, or functions bringing about a result: 3 types of processes, directly create goods and/or services core support. Operations the operations function performs all the activities directly related to producing goods or providing services core for most organizations responsible for the creation of an organization"s goods or services operations function involves the conversion of inputs into outputs the essence of the operations function is to add value during the transformation process: value added: term used to describe the difference between the cost of inputs and the value or price of outputs ex: in not for profit: the value of outputs is their value to society in for profit: the value of outputs is measured by the prices that customers are willing to pay for those goods or services one way that businesses attempt to become more productive, is to examine critically whether the operations performed by their workers add value.