BUS 351 Student Guide 1

BUS 351 Student Guide 1 - How does mismatch of demand and...

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1 Business 351 Student Guide – Spring 2010 These pages provide an outline of many of the topics and questions that you should be comfortable with in preparation for quizzes and examinations. This is not an exhaustive list, but you are not expected to be familiar with topics or text outside these listed areas and pages ( i.e. in handouts and required readings from the book) unless the material is discussed in class. Section 1: Introduction Materials: Day 1 Handouts Concepts (Know the pieces): What is operations management? What is the basic I-P-O model of the firm? Be able to list inputs, processes, outputs, and customers for an example service. What is a general definition of productivity? What factors are used in estimating firm productivity? Be able to write down the equation for multifactor productivity given inputs and outputs. How do we define services?
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Unformatted text preview: How does mismatch of demand and supply affect firms? Provide examples of a demand-supply mismatches that had serious consequences. What is the distinction between service and manufacturing firms? List the types of flows that occur in a production system. List the types of information flows that are used to control and manage processes. Analysis (Do the math): Be able to estimate overall productivity, worker productivity and multifactor productivity. 2 Integration (Put it together): Operations play a key strategic role. Provide examples of firms with a competitive advantage in the marketplace due to operational competence. Understand conflicts that occur between the operational and other functional areas within a business? Provide examples of such conflicts. What are the implications of such conflicts for the overall firms profitability?...
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BUS 351 Student Guide 1 - How does mismatch of demand and...

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