Page 31 - DMGT501_OPERATIONS_MANAGEMENT

Unit 1: Introduction to Operations Management

Focus Strategy: Choice of a narrow competitive scope within an industry. Notes
Green Productivity: It signifies a new paradigm aimed at the pursuit of productivity growth
while protecting the environment.

Labour Productivity: Quantity of output produced by one unit of production input in a unit of
time.
Manufacturing: Tangible items that are usually produced in one location and purchased in
another.
Operations Management: Management of an organisation's productive resources or its production
system.
Production: Conversion of inputs – men, machines, materials, money, methods and management
(6 Ms) into output through a transformation process

Productivity: Output/input
Services: Intangible products that are consumed as they are created.
Total Factor Productivity: Year-by-year change in the output where a number of factors are
taken into consideration.
Wastivity: 1/productivity

1.11 Self Assessment

State whether the following statements are true or false:

1. Behavioral Management believes that management is a continuous process.
2. The techniques adopted for production of goods is one of the major inputs that can increase
productivity.

3. The costs of automation is comparatively is more cost effective in the long run.
4. It is easier to handle the operating procedures of intangibles rather than taking care of the
goods.

5. Productivity is only measured in terms of output and inputs.
6. Brands like Tag Heuer and Rolls Royce follow a focused strategy.
7. Multiple factor productivity is same as the total factor productivity.
8. Per Capita income indicates the national income of an economy.
9. The breaks given to the employees at work leads to wastivity of resources rather than
increasing productivity.
10. The management functions like finance, HR, marketing etc. play an important role in
enhancing productivity of the workforce.
Fill in the blanks:
11. ……………………branch of management stresses on use of mathematics in management.
12. Increasing productivity not only from production or output point of view but also socio-
economic point of view is known as……………………
13. Big Bazaar in India and Wal-Mart worldwide is following a …………………..strategy to
gain competitive advantage.

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