What is operations management and how does it coordinate activities in a business? Operations management focuses solely on marketing and sales strategies. Operations management involves coordinating and organising the activities involved in producing the goods or services that a business sells to customers. Operations management is the process of hiring and training employees for a business. Operations management is the financial planning and budgeting of a business.

Operations management involves coordinating and organising the activities involved in producing the goods or services that a business sells to customers.

How is efficiency defined in the context of business operations? Efficiency is how productively a business uses its resources when producing a good or service. Efficiency is the ability to reduce costs regardless of quality. Efficiency is the focus on customer satisfaction above all else. Efficiency is the speed at which a business can produce goods.

Efficiency is how productively a business uses its resources when producing a good or service.

What does effectiveness mean in achieving business objectives? Effectiveness is the extent to which a business achieves its stated objectives. Effectiveness is the ability to cut costs and increase profits. Effectiveness is the speed of production and delivery. Effectiveness is the focus on employee satisfaction.

Effectiveness is the extent to which a business achieves its stated objectives.

What are the primary objectives of a business? To make a profit, to fulfil a market or social need, to increase the market share, to meet shareholder expectations and to improve efficiency and effectiveness. To reduce costs, increase employee satisfaction, and expand globally. To innovate new products and services continuously. To focus on marketing strategies and customer engagement.

To make a profit, to fulfil a market or social need, to increase the market share, to meet shareholder expectations and to improve efficiency and effectiveness.

What are inputs in the context of business operations? Inputs are the marketing strategies employed by a business. Inputs are the financial investments made by shareholders. Inputs are the final products delivered to customers. Inputs are the resources used by a business to produce goods and services. For example human, natural and capital resources.

Inputs are the resources used by a business to produce goods and services. For example human, natural and capital resources.

What are processes in a business's operations system? Processes are the financial transactions recorded by a business. Processes are the marketing campaigns launched by a business. Processes are the actions performed by a business to transform inputs into outputs e.g. mixing, designing, baking computing, cutting, washing. Processes are the customer service interactions handled by a business.

Processes are the actions performed by a business to transform inputs into outputs e.g. mixing, designing, baking computing, cutting, washing.

What are outputs in a business's operations system? Outputs are the initial resources acquired by a business. Outputs are the financial reports generated by a business. Outputs are the marketing strategies developed by a business. Outputs are the final goods or services produced as a result of a business's operations system, that are delivered or provided to customers.

Outputs are the final goods or services produced as a result of a business's operations system, that are delivered or provided to customers.

What characterizes a manufacturing business? Manufacturing businesses utilise their operations system to produce physical goods. Since these businesses produce tangible goods, a manufacturing business's operations system has various unique characteristics. They can also store their products and customer contact is limited. Manufacturing businesses are dedicated to marketing and sales. Manufacturing businesses are primarily involved in financial services. Manufacturing businesses focus solely on service delivery.

Manufacturing businesses utilise their operations system to produce physical goods. Since these businesses produce tangible goods, a manufacturing business's operations system has various unique characteristics. They can also store their products and customer contact is limited.

What defines a service business and its operations system? Service businesses utilise their operations systems to produce intangible products. Services are intangible products that are provided by individuals with specialised expertise. Since these businesses produce services that are non-physical, there are various unique characteristics of a service business's operations system. The product cannot be stored. Service businesses focus on manufacturing tangible goods. Service businesses are primarily involved in retail operations. Service businesses are dedicated to financial investments.

Service businesses utilise their operations systems to produce intangible products. Services are intangible products that are provided by individuals with specialised expertise. Since these businesses produce services that are non-physical, there are various unique characteristics of a service business's operations system. The product cannot be stored.

What are the technological strategies used in business operations? Automated production lines, robotics, computer aided design, computer aided manufacturing, artificial intelligence, online services. Marketing automation, customer relationship management, social media strategies. Employee training, leadership development, team building. Financial forecasting, investment analysis, risk management.

Automated production lines, robotics, computer aided design, computer aided manufacturing, artificial intelligence, online services.

Operations Management: Business Efficiency, Effectiveness, and Technological Systems

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Sociology - Management

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Cards in this deck(44)

What is operations management and how does it coordinate activities in a business?

How is efficiency defined in the context of business operations?

What does effectiveness mean in achieving business objectives?

What are the primary objectives of a business?

What are inputs in the context of business operations?

What are processes in a business's operations system?

What are outputs in a business's operations system?

What characterizes a manufacturing business?

What defines a service business and its operations system?

What are the technological strategies used in business operations?

How do automated production lines function in a business?

What are the key elements of an operating system in business?

What role do robotics play in business operations?

What is computer-aided design (CAD) and how does it assist businesses?

How does computer-aided manufacturing (CAM) enhance production processes?

What is artificial intelligence (AI) and how is it applied in business?

What are online services and how do they benefit businesses?

What is forecasting and how does it assist in materials planning?

What is a master production schedule (MPS) and its role in production?

What is materials requirement planning (MRP) and its significance?

What is the Just in Time (JIT) inventory control approach?

What are the material strategies used in business operations?

What are the quality strategies employed by businesses?

How does quality control function in a business's production process?

What is quality assurance and how is it achieved in business?

What is total quality management (TQM) and its approach?

What are the waste minimisation strategies in business?

What is waste minimisation and how is it implemented in business?

What does it mean to reduce in the context of waste minimisation?

What does it mean to recycle in the context of waste minimisation?

What does it mean to reuse in the context of waste minimisation?

What is lean management and how does it improve business operations?

What is the pull strategy in lean management?

What is one-piece flow in lean management?

What is takt in lean management and how does it synchronize operations?

What is the zero defects strategy in lean management?

What is corporate social responsibility (CSR) and its importance in business?

What are the CSR considerations for sourcing inputs in business?

What are the CSR considerations for processes in business operations?

What are the CSR considerations for outputs in business?

What are the global considerations in business operations?

What is global sourcing of inputs and its significance in business?

What is overseas manufacture and why do businesses use it?

What is global outsourcing and its benefits for businesses?

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Operations Management: Business Efficiency, Effectiveness, and Technological Systems

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