AFM131 Chapter Notes - Chapter 10: Enterprise Resource Planning, Lean Manufacturing, Operations Management

• School: University of Waterloo
• Department: Accounting & Financial Management
• Course: AFM131
• Professor: David H A

Document Summary

One of the largest producers of forest products in the world most industry is focused on natural resources. Experience significant growth when world economics are growing and vice versa. Business climate is characterized by constant and restless change and dislocation new technologies and increasing global competition force companies to respond quickly to these challenges. Inadequate improvement in productivity & unrelenting competition from other countries. Inadequate education & retraining programs for our workforce: branch plant economy profits from subsidiaries are returned to foreign companies, rather than invested in canada, lack of money spent on research & development. Ca(cid:374)ada"s i(cid:374)(cid:374)o(cid:448)atio(cid:374) st(cid:396)ateg(cid:455) fo(cid:272)uses o(cid:374) r&d as a (cid:449)a(cid:455) to i(cid:373)p(cid:396)o(cid:448)e (cid:272)o(cid:373)petiti(cid:448)e(cid:374)ess. Research & development work directed toward the innovation, introduction, and improvement of products and processes: technology know-how, knowing how to make and use the tools for the job. Innovation new product or process that can be purchased: commercialized (developed/sold/distributed/used) technological know-how becomes an innovation.