Unit 3 and 4 KK key words Flashcards Preview

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Flashcards in Unit 3 and 4 KK key words Deck (23)
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1

Types of Buisnesses?

Soletrader, Partnership, Social Enterprise, Governement Buisness Enterprise, Private and Public limited company

2

Buisness Objectives

- make a profit
-meet a social/market need
- meet shareholder expectations
- Increase market share

3

Areas of management

Finance
Operations
Human Recourses
Sales and Marketing
Technology and support

4

Management Styles

Autocratic
Persuasive
Consultative
Participative
Laissez-Faire

5

Management Skills

planning
delegation
communication
leading
interpersonal

6

Corporate culture

Real and offical culture

7

Developing corpoate culture

communication
Leading by example
Training
Reward and Recognition
rituals and celebration

8

Motivation Theories

Maslows Hierarchy of Needs
Locke and Lathams Goal setting theory
Lawrence and Norias 4 drive theory

9

Motivation Stratergies

Career advancement
investment in training
performance related pay
support
sanction

10

Performance management stratergies to achieve employee and buisness objectives

employee observation
self evaluation
appraisals
management by objectives

11

Types of termination

dissmisial
retirement
redudancy
resignation
entitlement issues
Transition issues

12

Participants within the work force

human recourse managers
employees
employer associations
unions
fair work commission (FWC)

13

Dispute resolution processes

Grievance procedures
Mediation
Arbriation

14

Key Elements of an operations system

Inputs
Processes
Outputs

15

Strategies to improve efficiency and effectiveness: Technological developments

Automated production lines
CADs
CAMs
Website developement

16

Strategies to improve efficiency and effectiveness: Materials

JIT
Forecasting
Master Production Schedule
Materials requirement planning

17

Strategies to improve efficiency and effectiveness: Quality

Quality Control
Quality Assurance
Total Quality management

18

Strategies to improve efficiency and effectiveness: Waste minimisation

Lean management:
(POTZ)
pull
one piece flow
Takt
Zero defects

19

Global Considerations in Operations management

global outsourcing
overseas manufacture
global sourcing of inputs

20

Key Performance indicators:

percentage of market share
net profit figures
rate of productivity growth
number of sales
number of workplace accidents
level of staff turnover
level of wastage
rates of staff absenteeism
number of customer complaints

21

Driving forces for business change:

Managers
Competitors
innovation
technology
employees
pursuit of profit
reduction of costs
legislation
globalisation
Societal Attitudes

22

Restraining forces for business change:

Managers
Employees
organisational inertia
financial considerations
legislation
time

23

Management strategies to respond to KPIs

Staff training
Staff motivation
Change in management styles/skills
increased investment in technology
improving quality in production
initiating lean production techniques
redeployment of recourses
cost cutting