I. Discussion and Review Question:
1. Briefly describe the term operations management?
Answer: Operations Management is management of system or processes that create goods or provide service. The term operations management includes interrelated activities such as forecasting, capacity planning, scheduling, managing inventories, assuring quality, motivating employees, and deciding where to locate facilities and more. 2. Identify the three major functional areas of business organization and briefly describe how they interrelate? Answer: The three major functional areas of business are finance, operations and marketing. Finance is responsible for securing financial resources at favorable prices and allocating those resources throughout the organization, as well as budgeting, analyzing investment proposals and providing funds for operations. Moreover, operations function is responsible for producing products and delivering services and it needs the support as well as input from others areas of the organization such as finance and marketing. And finally, marketing is responsible for assessing consumer wants and needs, as well as selling and promoting goods or services. Marketing and Operations are the primary or line function. 3. Describe the operations function and the nature of the operations manager’s job? Answer: Operations is responsible for producing the goods or providing the service offered by the organization. Therefore, the nature of the operations manager’s job is to guide the system by decision making. Certain decision affects the design of the system, and others affect the operation of the system. System design involves decisions that relate to system capacity, the geographic location of the facilities and acquisition of equipment. 4. List five important differences between goods production and service operation; then list five important similarities? Answer:
Five important differences between good production and service operation are...
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