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Distinction between manufacturing and service operations is based on the following features: the nature and consumption of output; nature of work (jobs); degree of consumer contact; uniformity of output; quality assurance; measurement of performance. 3. Major decision areas in P/OM include: capacity planning, aggregate production planning and master
17. Decisions about the organization's long-term goals are called? A. SMART goals B. Strategic goals C. Strategic planning D. Mission planning Correct: The Correct Answer is: C. Strategic planning is focused on developing long-term goals and strategies for the organizations.
Transaction Cost Economics (TCE) and the boundaries of a firm To apply the concept of TCE on a firm, it is practical to first describe Transaction Costs (TC) and to then define the key characteristics of TCE, referencing the work of Oliver E. Williamson. Transaction Cost (TC) TC is the cost that is incurred when an economic exchange takes place alternatively it is any costs that arise due to the existence of institutions. Types of TC include search & information costs, bargaining costs and policing & enforcement costs. TC informs when certain economic tasks will be performed by firms and when they will be performed by the market; i.e. buying and selling.
•Administration of Project Management system / application. •Project tracking.