Business studies - Operations

Description

Flashcards on Business studies - Operations, created by Milla Jones on 21/08/2019.
Milla Jones
Flashcards by Milla Jones, updated more than 1 year ago
Milla Jones
Created by Milla Jones over 5 years ago
8
0

Resource summary

Question Answer
Operations Business processes that involve transformation and production
Cost Leadership Aiming to be the most competitive (lowest) prices in the market
Goods/Service differentiation distinguishing your products from your competitors.
Operations Costs - input costs - labour costs - processing costs - inventory costs - quality management costs
Standardised goods Mass Produced, no differences between them
Customised goods Vary depending on the needs of the customer
Globalisation The removal of trade barriers between nations that affects the operations functions of large businesses
Quality Expectations The quality of management and distribution of products
Environmental stability Allows future generations to satisfy their wants and reduce their carbon footprint
Corporate Social Responsibility (CSR) The actions that are taken by the business based on the respect for the environment or community more than just complying with legal obligations
Inputs - transformed goods - transforming goods
Transformed Goods Raw material inputs that are present in the finished product
Transforming Goods The inputs that carry out the transformation process and are not present in the finished product
Volume ((transformation process)) How much of the product is made
Variety ((transformation process)) The range of products made
Variation in Demand ((transformation process)) The amount of a product desired by customers
Visibility ((transformation process)) The nature and amount of customer contact
Sequencing The order of activities in the operations process (eg: Gantt charts and critical path analysis)
Scheduling The length of time spent on each of the operations processes' activities (eg: Gantt charts and critical path analysis)
Task Design Classifying jobs activities so employees can successfully perform the task
Process Layout All transforming goods (machinery and equipment) are group together where they perform
Product layout When the product must be made at a specific site and all inputs must be brought to the site
Performance objectives - Quality - Speed - Dependability - Flexibility - Customisation - Cost
Supply management
Show full summary Hide full summary

Similar

Business Studies Unit 1
emily.mckechnie
Business Studies Unit 2
tara.springate
1.3.1 Characteristics of Successful Entrepreneurs
Molly Hills
Unit 3 Business Studies
Lauren Thrower
Unit 1: Business Studies GCSE
Libby Rose
BUSS1
Sophie Davis
The skills needed to be a successful entrepreneur
rhiannafordx
The skills needed to be a successful entrepreneur
Rosie Wallis
AS - Buss1 - Formula Cards
Sophie Davis
How to Turn Business Failure into Business Success
Micheal Heffernan
Chapter 40: Promotion
19leesia