BUSSPP 0200 1st Edition Lecture 20Outline of Last Lecture Outline of Current Lecture Current LectureI. What is a Job shop? A. High level of under-utilization B. Generalized equipment C. Multiple paths 1. Flexibility in making multiple things (each uses different resources in a different sequence) 2. Bottlenecking – two products need the same resource which causes a back up a. one thing will be delayed – adds to the inefficiency of the job shop b. Flexibility used simultaneously D. As the inefficiency of a job shop in considered, why would we ever see one? 1. Consumers/marketing strategy may demand a high level of flexibility 2. The more things we can actually make, the more difficult it is to operate the supply systemII. Continuous flow A. Issues 1. Capacity Utilization a. estimate the demand of the facility before it’s even built 2. Preventative Maintenance 3. Technology III. Tracing some ideas A. We have multiple stakeholders 1. What is a stakeholder? a. Any party with a vested interest in the firm 2. Multiple Stakeholder groups a. Employees – greater security, wages, and benefits b. Owners – 1. Increase in value 2. Portion of profits c. Shareholders (if public) – 1. Increase in value 2. Portion of profits d. Customers – want lower prices and more choicesThese notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.e. Suppliers – want to be paid for supplies f. Lenders – will not get $ back if firm fails 3. These payouts come from the profit stream a. creates a contest between stakeholder parties b. political process – Forms Dominant Coalition -use goal agenda as legitimization for how the profit stream is divided B. Governance – how profit stream is divided IV. Differentiation Strategy vs. Production System A. Who develops the differentiation strategy? 1. The dominant coalition 2. How do we generate enough profit to feed the machine? 3. Are one of the goals of the firm to play the game of customize/satisfy, or generic production/reducing cost? a. These are dramatically different goals b. likely to engage in significant long-term investment for products in the future if development is defined as a
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