Role

Question 1

What is the strategic role of operations?

Answer 1

the transformation of inputs into outputs in order to create added value.

Question 2

examples of business inputs

Answer 2

ideas, information, natural resources, raw materials, labour, human resources, capital, machinery, technology

Question 3

examples of outputs

Answer 3

finished and intermediate/semi-finished goods and services

Question 4

industry sectors

Answer 4

primary- farms and raw materials
secondary- manufacturing
tertiary- retail, wholesale
quaternary- information, entertainment
Quinary- domestic services