BUS140 Study Sheet

BUS140 Study Sheet - Ch1. - Five Major Activities of...

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Ch1. - Five Major Activities of Management : Planning, Analyzing, Organizing, Directing/Implementing, Controlling. - The Impact of Pace : Dimensions of pace—rate of new product intros- rate of new process tech. intros- rate of new players; Consequences—Organization structure- Strategic process- Manf process. - What is OM : OM transforms factors of production into goods or services of higher value—Business process of the firm; OM is involved in doing or supporting the four core sets of business processes - Determining customer needs- Developing product strategy (product innovation)- Managing the entire supply chain- Managing non-value adding support activities. - Implications of the Business Process Perspective : Operations managers must maintain a cross functional perspective- Concern about pleasing the customer- A resource balancing act: things, humans and info- Wear many hats- The one sixth perspective: Profit= MS1xMS2xMS3 (market size, market share, margin on sales(price-cost)) - Future OM Function Challenges: - Increased customer involvement- Globalism- Managing an integrated supply chain in a world of uncertainty and danger- New product/process technologies- Intellectual property challenge- Deflation/ inflation and or currency fluctuations. - Strategy OM: --Evolution of strategy- know thy enemy/know thy customer—Forces impacting strategy formulation- IT/e- commerce- Increase customer participation/demands- Market opportunities may be limited—Two Basic Approaches- Focus on your core competencies- Demand innovation- investigate your customers’ total needs and expand your product offering scope. - Strategy Implementation: Sequential or Simultaneous Process- Pace will determine the feasibility—Bureaucratic approaches- Kawasaki’s card system- The OPJ: Three levels (Organization, Process, Job) Within each level (Goals, Design, Management). CH2. - Defining Value : Value is: -the customer’s subjective evaluation- adjusted for cost- of how well a product meets expectations— Four key terms: -What is a customer?- What is a subjective evaluation?- What is meant by product?- What are expectations? - What is a Customer : Types of customers- Consumers are the persons the product intends to satisfy. Need satisfaction is the goal.- Customers are individuals buying the product (consumer, buying for the consumer, supply chain player, next operations)- Other Classifications (Buyers, Intermediate customers, Internal customers) - What is a Subjective Evaluation : --Customers normally are people. The consumer might be another person, an org, or your pet—People are unique and what often contributes to their uniqueness is the ways they process units. - The Value Equation : Value= Performance/Cost—Performance is a function of (Functionality, Quality, Speed, Timeliness, Flexibility, Cost) - Value - Detail: Functionality : - To what extent did the product satisfy a need?- To what extent did the product meet or exceed the customer’s expectations— Quality
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This note was uploaded on 09/08/2010 for the course BUS 140 at San Jose State.

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BUS140 Study Sheet - Ch1. - Five Major Activities of...

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