4 - Operational Objectives

Question 1

What Is Operations Management?
(2 Points)

Answer 1

~ Is concerned with those aspects of the business which are directly linked to the fulfilment of customer orders.
~ They take inputs, process them, which forms an output and then distributes to the customer.

Question 2

What Are The 6 Operational Objectives?

Answer 2

~ Cost.
~ Quality.
~ Speed of response and flexibility.
~ Dependability.
~ Environmental objectives.
~ Added value.

Question 3

One Operational Objective Is Cost, What Does This Mean?

Answer 3

The cost of each individual product or service supplied.

Question 4

One Operational Objective Is Quality, What Does This Mean?

Answer 4

Quality of raw materials, processes, output and customer service to match the customers expectations.

Question 5

One Operational Objective Is Speed Of Response & Flexibility, What Does This Mean?

Answer 5

The speed in which customers needs are met and the ability to tailor the good to meet individual needs.

Question 6

One Operational Objective Is Dependability, What Does This Mean?

Answer 6

Getting the right product, with the right quality and quantity to the right customer on time.

Question 7

One Operational Objective Is Environmental Objectives, What Does This Mean?

Answer 7

Meeting targets to minimise any detrimental effects of the operations of the business on the environment.

Question 8

One Operational Objective Is Added Value, What Does This Mean?

Answer 8

The ability to ensure that the value of the output is higher than the sum of the value of all inputs.

Question 9

What Are The Internal Influences On Operational Objectives?
(7 Points)

Answer 9

~ Finance.
~ People.
~ Effective marketing.
~ Capital.
~ Target market.
~ Regulatory environment.
~ Geographical.

Question 10

What Are The External Influences On Operational Objectives?
(6 Points)

Answer 10

~ Benchmarking.
~ Environmental targets.
~ Innovation.
~ PED.
~ YED.
~ Ethics.