Midterm 2 Package
ARBUS 101/AFM 131 – MIDTERM II
CH. 10 – PRODUCING WORLD-‐CLASS GOODS AND SERVICES (OPERATIONS) CANADA’S BUSINESSES:
§ Facing serious challenges in ability to remain modern and competitive § Business climate characterized by constant and restless change and dislocation § Reasons for CAN’s difficulties in competitive race: 1) Inadequate improvement in productivity and unrelenting competition from foreign countries 2) Inadequate education and retaining programs for workplace 3) Our “Branch-‐Economy”
- Profits are returned to foreign-‐based countries who are parent companies to Canadian businesses, therefore profits NOT invested back in CAN economy
4) Not enough money spend on research and development: - Value of dollar closer to parity forcing CAN manufacturers to improve productivity
RESEARCH AND DEVELOPMENT (R&D): § Research and development: R&D work directed toward the innovation, introduction, and improvement of products and processes
§ Companies are more competitive due to technology and innovation - Technology is the know how à creates innovation à combination gives competitive edge
- Innovation GOALS:
a) improve product quality
b) increase production capacity
c) extend product range § Adoption and dissemination
CH. 10 – PRODUCING WORLD-‐CLASS GOODS AND SERVICES (OPERATIONS) CANADA’S BUSINESSES:
§ Facing serious challenges in ability to remain modern and competitive § Business climate characterized by constant and restless change and dislocation § Reasons for CAN’s difficulties in competitive race: 1) Inadequate improvement in productivity and unrelenting competition from foreign countries 2) Inadequate education and retaining programs for workplace 3) Our “Branch-‐Economy”
- Profits are returned to foreign-‐based countries who are parent companies to Canadian businesses, therefore profits NOT invested back in CAN economy
4) Not enough money spend on research and development: - Value of dollar closer to parity forcing CAN manufacturers to improve productivity
RESEARCH AND DEVELOPMENT (R&D): § Research and development: R&D work directed toward the innovation, introduction, and improvement of products and processes
§ Companies are more competitive due to technology and innovation - Technology is the know how à creates innovation à combination gives competitive edge
- Innovation GOALS:
a) improve product quality
b) increase production capacity
c) extend product range § Adoption and dissemination