BU385 Chapter Notes - Chapter 1: Frank Bunker Gilbreth Sr., Lillian Moller Gilbreth, Cash Flow
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: the mgmt. of processes or systems that create goods and/or provide. Moreover, activities in all other areas of business organizations (finance, hr, etc. ) are interrelated with opm activities. Functions within organizations**: organizations are formed to pursue goals that are achieved more efficiently & effectively by the concerted efforts of a group (vs. working alone). Although organizations" goals, products, and services may differ, their functions and the way they operate are similar: typical organization has 3 functions that interact to achieve goals: operations, marketing, 2013: these functions must work together if operations and marketing don"t work together, marketing may promote goods that operations cannot deliver (for example). 2013. value of outputs its measured by the prices that customers are willing to pay for those goods/services: greater value added = greater amount of funds available for wages, profit, r&d, etc, examine whether the operations add value.
