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Flashcards in setting operational objectives Deck (18):
1

define operations objective

an objective for the operations function which should be SMART

2

what are costs?

the key cost target is the unit cost that is the cost of one unit of output

3

what does PESTEL stand for?

Political
Economics
Social
Technological
Environment
Legal

4

quality is...

the key features of a product to satisfy customer needs

5

what is speed of response?

the time taken for a customer requirement to be fulfilled

6

define flexibility

the ability of a business to change its operations- often a response to customer needs or internal or external factors

7

what's dependability?

the consistency of the quality of the goods and punctuality of its delivery

8

what's an environmental objective?

the extent to which a firm considers the environmental impact of its operational activities

9

define adding value

the process of increasing the value of resources by transforming or modifying them- e.g. making finished goods from raw materials

10

what is labour intensive?

when the operations process uses a high proportion of labour in production compared to the amount of capital equipment used

11

what is capital intensive?

when the operations process uses a high proportion of capital equipment in production compared to the amount of labour used

12

what's operations management?

the process that uses an organisations resource to provide the right goods and services to customers are the activities

13

what are 3 internal factors of operational objectives?

- marketing
- factors
- human resources

14

name 5 external factors of operational objectives

- political/legal
- economic
- social
- technological
- competitive

15

name 3 ways to add value

- obtain a prestigious address
- offer short delivery time
- use low cost materials when not visible to customers

16

what are 3 internal factors of operational objectives?

- marketing
- factors
- human resources

17

name 5 external factors of operational objectives

- political/legal
- economic
- social
- technological
- competitive

18

name 3 ways to add value

- obtain a prestigious address
- offer short delivery time
- use low cost materials when not visible to customers