Setting operational objectives Flashcards
(9 cards)
What is the definition of objectives?
A quantifiable target which helps to coordinate activities.
Why set objectives?
To guide employees and motivate them in the direction the organisation wants to go.
What do operational objectives include?
Costs
Quality
Efficiency
Environment
What are the benefits of reducing unit costs?
So businesses can keep prices low for customers.
To enjoy a higher profit margin.
How can a business reduce its costs?
By cutting its fixed costs or variable costs.
What is quality?
The features of a product or service that allow it to satisfy customers.
How can quality be measured?
By looking at customer satisfaction ratings.
By looking at the number of customer complaints.
What is punctuality?
How promptly a business delivers its goods or services.
What do environmental objectives include?
Reducing waste
Reducing carbon footprint
Minimising waste products or materials
Increase recycling
