Operations Managment Flashcards
What is productivity
a measure of economic performance that compares the amount of goods and services produced (output) with the amount of inputs used to produce those goods and services.
Measures of productivity
Total input/total output
Importance of productivity to stakeholders
High productivity means that tasks are done faster and more efficiently giving the business a competitive edge in the market
Method of improving productivity
Tracking tasks, reviewing progress on objectives, setting clearly defined tasks
Explain the process by which services are provided
The process the business goes through in order to provide a service in line with the nature of the business
Importance of customer service to a business and its stakeholders
The more personal and accommodating towards the customer the business is then the more value they can extract from them via purchases and more likely to retain them
What is a service
those that provide an activity or the performance of a task with a commercial purpose
Importance of service to the UK economy
80% of the economy is reliant on services, 4% on primary sector and 16% n secondary sector
Impact of poor customer service
Bad reputation, loss in sales
