Professional Documents
Culture Documents
Lesson 1
Operation management - Is the business function that plans, organizes,
coordinates, and controls the resources needed to produce a company’s goods and
services.
Controlling - Control the outcomes and manage the quality, then checking the resulat
and compare to the goals.
Mission - Mission regards a specific target or goal that the company wishes to
pursue. The mission drives the company and there is some intended outcome or goal
in mind. Undertaking this mission will lead the company towards its vision
Strategy - Strategy regards the plan or method(s) by which the company will address
the identified objectives in pursuit of a given strategy.
Tactics - are the specific measures undertaken by the company in pursuit of the
objectives identified as part of the strategy.
Historical Development - It involves the absolute control of the use of resources and
other raw materials and turning them into more valuable products
Total Quality Management (TQM) - a way of thinking that aims to increase quality
by removing the root causes of product faults and making quality everyone's
responsibility within the company
Core Competencies - the resources and capabilities that comprise the strategic
advantages of a business.
Process Technology - the machines, equipment, and devices that create and/or
deliver products and services
Information Technology - are able to reduce the cost, improve the delivery process,
standardize and improve quality and focus on customization, thereby creating value
for customers.
Order Winners - a quality that will increase the chance of success in a bid or sale.
Labor Productivity - Real economic output per labor hour, sometimes referred to as
workforce productivity.
LESSON 3
Product Design - Specifications and features that are exclusive to the company's
product.
Product Screening
Operating
Marketing
Financing
Final Design - following preliminary design, and at the very least, involves creating
final construction plans, thorough specifications, and estimates thorough enough to
update project stakeholders.
Idea Development - Ideas are the foundation of all product designs. The concept
could originate from a product manager who spends time with clients and has a strong
understanding of what customers want, from an engineer with a talent for inventing,
or from anybody else at the organization.
Product Screening - The possibility of a product idea's success is assessed after it has
been developed. Product screening is what this is.
Break- Even Analysis - is a method that may be beneficial when assessing a new
product. It determines the amount of items a business must sell in order to break even,
or only cover its costs.
Designing Services - The majority of the topics covered in this chapter apply just as
much to service corporations as they do to industrial ones. However, there are
problems specific to services that present particular difficulties for service design.
The Supply Chain Link - Companies often have a relatively small window of time to
introduce a new product design to the market in today's competitive marketplace.