MGTA02H3 Chapter Notes - Chapter 1: Woodworking, Master Production Schedule, Material Requirements Planning
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MGTA02H3 Full Course Notes
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Service operations: production activities that yield tangible and intangible service products. (bus driver, clerk, radio announcer. Goods production: production activities that yield tangible products. Production: - historically referred to companies engaged in goods production, but now includes services. Service sector managers focu0s less on equipment and technology and more on human resources (because of the importance of provider-customer contact) Growth of global operations: global competition has increased speed, complexity and technology of production (technology makes firms face constant change) Products (goods and services) provide businesses with economic results (profits, wages, goods purchased from other companies) and non-economic results (technology, innovation, pollution) and provides consumers with utility . Utility: the power of a product to satisfy a human want; something of value (there are 4 kinds) Time utility: the quality of a product satisfying a human want because if the time at which it is made available.