2.1 Role of Operations management Flashcards

1
Q

What is operation?

A

The function of business that deal with the transformation of inputs into outputs`

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2
Q

What are the strategic goals of operations?

A
  • Improve productivity
  • Efficiency
  • Quality of outputs
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3
Q

What is cost leadership strategy?

A

Is the strategy in which a business aims to be the lowest cost manufacturer within its industry.

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4
Q

How can low costs production be achieved?

A

Through economies of scale in production and distribution, cheaper raw materials and technology aid.

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5
Q

What are challenges of cost leadership strategy?

A
  • Competitor can use the same strategy and achieved even lower price
  • Customer preference of low cost product - low quality
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6
Q

How product differentiation is ad vantage?

A
  • Generate more sale due to ‘unique’ features in the products that offer to customer
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7
Q

Name 5 ways company can differ their product?

A
  • Better quality
  • Faster delivery
  • Custom design product
  • Clever design
  • More application
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8
Q

What is tangible and intangible?

A
  • Tangible is products (Can touch, see , smell, felt)

- Intangible is services (Cannot see, touch or feel)

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9
Q

What is primary industry and example ?

A

-Raw material collection (mining)

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10
Q

What is secondary industry and example?

A
  • Use raw materials to create products(Construction)
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11
Q

What is tertiary industry and give example?

A
  • Provide service (hair salon)
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12
Q

What is quaternary industry and example?

A

-Transfer information (Radio)

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13
Q

What is quinary industry and example?

A
  • Service provide at home (Restaurant
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