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Flashcards in Operational Stratergies Deck (13)
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1

What are trade barriers?

Tariffs (taxes) quotas etc limitations on free movement of goods

2

Offshoring?

Relocation of a business process to another country

3

Economies of scale?

Fall in cost as production increases

4

Internal influences?(3)
External influences?3)

Nature of product,HR issues,finance available
Market,competitors,consumers

5

Labour and capital productivity equations?

Output/employees
Output/capital employed

6

Economies of scale good things

Bigger business-
More machinery
Better access to finance
Lower cost of marketing per unit
Hire specialists increase efficiency
Better infrastructure
Better supply of labour
Better supplier networks

7

Diseconomies of scale how?

Lack motivation
Poor communications
Alignment to vision

8

What is innovation?
Why innovate?(6)

Introduction of a new product or service into a market for commercial gain

First mover advantage
Creating new markets
Competitive advantage
Shorter product life cycles
Efficiency
Motivation

9

Kaizen
What's cut?
What does it focus on?
What's loweredv?

Lean production the technique which aims to improve efficiency by making small but frequent improvements

Lead times
Customer needs
Waste and damage

10

Critical activities
Float time
Non critical

Can't be delayed
Time non critical can be delayed
Can be delayed

11

Critical path analysis
Network

Planning to find most efficient way
Visual diagram

12

What's lead time?

Time between order to delivery

13

What's a stakeholder?

Any person or group of people with an interest in the business