Role Flashcards
1
Q
What is the strategic role of operations?
A
the transformation of inputs into outputs in order to create added value.
2
Q
examples of business inputs
A
ideas, information, natural resources, raw materials, labour, human resources, capital, machinery, technology
3
Q
examples of outputs
A
finished and intermediate/semi-finished goods and services
4
Q
industry sectors
A
primary- farms and raw materials
secondary- manufacturing
tertiary- retail, wholesale
quaternary- information, entertainment
Quinary- domestic services
5
Q
A
