Operation Management
|STAT 2800: doING bUSINESS IN eUROPE |
|Operations Management |
|Nordea v. Honka |
| |
|Taylor Linnell |
|6/15/2008 |
|Professor Farina |
Operations Management The barriers to communication and transportation are crumbling and the global marketplace is revolutionizing into a playing field that has never been so equal. Efficiency and effectiveness are two of the most powerful words that have surfaced in this new era of business where maintaining a competitive edge is the difference between succeeding and faltering to bankruptcy. At the forefront of this expanding new frontier is a relative young an innovative management strategy known as operations management. According to Heizer and Render “operations management is the set of activities that creates value in the form of goods and services by transforming inputs into outputs.” This definition can be used to explain two types of outputs, tangible and intangible. A tangible output or good is something physical that can be inventoried, resold, transportable, selling is distinct from production and is often easy to automate. Examples of tangible products could be cars, televisions, baseball hats or even log
|Operations Management |
|Nordea v. Honka |
| |
|Taylor Linnell |
|6/15/2008 |
|Professor Farina |
Operations Management The barriers to communication and transportation are crumbling and the global marketplace is revolutionizing into a playing field that has never been so equal. Efficiency and effectiveness are two of the most powerful words that have surfaced in this new era of business where maintaining a competitive edge is the difference between succeeding and faltering to bankruptcy. At the forefront of this expanding new frontier is a relative young an innovative management strategy known as operations management. According to Heizer and Render “operations management is the set of activities that creates value in the form of goods and services by transforming inputs into outputs.” This definition can be used to explain two types of outputs, tangible and intangible. A tangible output or good is something physical that can be inventoried, resold, transportable, selling is distinct from production and is often easy to automate. Examples of tangible products could be cars, televisions, baseball hats or even log
Bibliography: 1. "Honka: History." Honka Homes. 2 Nov. 2008. 12 Jan. 2008 . 2. "Honka 's Mission." Honka. 12 Mar. 2008 . 3. "Corporate Statement." Nordea. 21 Mar. 2008. 25 Apr. 2009 < http://www.nordea.com/About+Nordea/Corporate+statement/51342.html>. 4. "Nordea Bank AB Company Profile." Yahoo Finance. 20 Apr. 2008. 20 Apr. 2008 .