Opma 3306 Study guides, Class notes & Summaries

Inventory is defined as the stock of any item or resource used in an organization. - True An inventory system is a set of policies and controls that monitors levels of inventory and determines what levels should be maintained, when stock should be replenished, and how large orders should be. - True One of the basic purposes of inventory analysis in manufacturing and stockkeeping services is to specify when items should be ordered. - True One of the basic purposes of inventory analysis i...

Mission - The reason for the firm's existence What value will be created for the customer Key Market - Who is your target client or customer? Contribution - What product or service do you provide to that client? Distinction - What makes your product or service unique, so that the client would choose you? Strategy - The plan designed to achieve a mission of the organization Shareholders - Individuals or companies that legally own one or more shares of stock in the company

Triple down bottom line - 1. social responsibilty 2. economic prosperity 3. evironmental stewardship Social Responsibility - fair and beeficial business practices towards labor, the community, and the region in which a firm coducts its business. economic prosperity - obligation for the firm to compensate its shareholders who provide capital through stock purchases and other finance tools via a competitive return on investment. Environmental stewardship - firms impact on the environme...

Triple down bottom line - 1. social responsibilty 2. economic prosperity 3. evironmental stewardship Social Responsibility - fair and beeficial business practices towards labor, the community, and the region in which a firm coducts its business. economic prosperity - obligation for the firm to compensate its shareholders who provide capital through stock purchases and other finance tools via a competitive return on investment. Environmental stewardship - firms impact on the environme...

OPMA 3306 Chapter 1

OPMA 3306 OPMA 3306 MIDTERM REVIEW- University of Texas/OPMA 3306 OPMA 3306 MIDTERM REVIEW- University of Texas/OPMA 3306 OPMA 3306 MIDTERM REVIEW- University of Texas/OPMA 3306 OPMA 3306 MIDTERM REVIEW- University of Texas/OPMA 3306 OPMA 3306 MIDTERM REVIEW- University of Texas