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Creado por Elizabeth Clifford
hace más de 11 años
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Pregunta | Respuesta |
Transformation | Any changes to inputs that adds value and converts them to outputs. |
Inputs | The raw materials, components and parts used to produce a good or supply a service. |
Outputs | What is made or supplied by the operations process. The product the business will on-sell to customers. |
Productivity | A measure of how efficiently goods and services are produced. It is usually measured in terms of output per labour hour. |
Competitive Advantage | The use of specific strategies to gain an advantage over competitors. Could be based on cost of production, quality, unique product features etc. |
Efficiency | Achieving maximum output with the minimum level of inputs. It involves achieving an objective without wasting resources and keeping costs as low as possible. |
Cost Leadership | Operations strategy - involves being the cheapest producer of a product in the market - means you can either undersell your competitors or sell for the same price and make increased profits. eg. Air Asia |
Product Differentiation (Good/service Differentiation) | Operations Strategy - to have different features to your competitors to create a competitive advantage. |
Economies of Scale | When mass producing, a business can buy inputs cheaper 'in bulk'. The more outputs the business produces, the larger volume of inputs they can purchase. This will bring their overall costs of production down. |
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