Ch 8 & 9: Producing Quality Goods & Services; Attracting and Retaining the Best Employees
The management of operations.
All the activities required to produce goods and services.
What is operations management.
A customer's estimation of the worth of a product based on a comparison of its costs and benefits, including quality, relative to other products.
What is value.
As of 2016, this was recognized as the top social media site.
What is facebook.
The development of strategies to meet a firm's Human Resources needs.
What is Human Resources planning.
A system in which employees set their own work hours within employer-determined limits.
What is flextime.
A good, a service, or an idea.
What is a product.
A set of activities intended to identify new ideas that have the potential to result in new goods and services.
What is Research & Development (R&D)
The first set of experiments tested the effect of lighting levels on productivity; the second set focused on the effectiveness of the piece-rate system.
What are the Hawthorne Studies.
Introduction, Growth, Maturity, and Decline
What are the stages of the Product Life-Cycle.
-On-the-job methods
-Simulations
-Classroom teaching and lectures
-Conferences and seminars
-Role-playing
-e-Learning
What are training and development methods.
Physiological, Safety, Social, Esteem, and Self-actualization needs.
All the products a firm offers for sale.
What is the product mix.
Collects anonymous reviews about an employee from his or her peers, subordinates, and supervisors and compiles them into a feedback report for the employee.
What is a 360-degree evaluation.
A plan that will enable an organization to make the best use of its resources and advantages to meet its objectives.
What is marketing strategy.
The number of units that must be sold for the total revenue to equal the total cost.
What is breakeven quantity.