MGSC 395 (Exam 1 David Precht) Exam | Questions & 100% Correct Answers (Verified) | Latest Update | Grade A+

Finance : Acquires financial resources and capital for inputs Marketing : Generates sales of outputs Operations : Translates materials and services into outputs Process : Any activity or group of activities that takes one or more inputs, transforms them, and provides one or more outputs for its customers Operation : A group of resources performing all or part of one or more processes 2 | P a g e Supply Chain : An interrelated series of processes within and across firms that produces a service or product to the satisfaction of customers Differences between Service and Manufacturing Process : 1. Nature output 2. Degree of customer contact Competitive Priorities : cost, quality, time, flexibility Competitive Capabilities : Current, needed, planned Order Qualifiers : Minimum level required from a set of criteria for a firm to do business in a particular market segmen