Trace Algorithm 1 when it is given n = 6 as input. That

Operation management ● development and administration of the activities involved in transforming resources into goods and services ● the “core” of most organizations ● emphasis on viewing operations function as a whole ● manufacturing/production = activities and processes used in making tangible goods ● operations (providing a service) = activities and processes used in making both tangible and intangible products Transformation Processes ● inputs = the resources (labor, materials, energy) that are converted into outputs ● outputs = the goods, services, and ideas that result from the conversion of inputs In Service Business ● 70% of all employment in the US… fastest growth market for jobs ● over 72% of GDP in US ● services are actions/performances directed at consumers ● different from manufacturing that produces tangible products ● generally intangible ● perishable ● demand can be variable ● cannot be saved, stored, resold, or packaged ● salons, colleges, airlines Planning the Product ● marketing research ○ demand for a product ○ how much customers are willing to pay Standardization ● the making of identical interchangeable components of products ● costs less than a custom-designed product ● customer may not get exactly what they want ● tv sets, ballpoint pens ○ manufactured on an assembly line ● speeds up production and quality control ● complex on a global scale = different countries have different standards for quality