4 - Operational Objectives

Question 1

What Are The Operational Objectives?
(6 Points)

Answer 1

~ Cost.

~ Quality.

~ Speed of response and flexibility.

~ Dependability.

~ Environmental objectives.

~ Added value.

Question 2

What Is Added Value?

Answer 2

Ensuring that the value of the output is higher than the sum of the value of all the inputs.

Question 3

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

Answer 3

~ Finance.

~ Skills of the workforce.

~ Effective marketing.

~ Capital intensive approach.

~ Target market.

~ Regulatory environment.

~ Geography of the firm.

Question 4

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

Answer 4

~ Benchmarking.

~ Environment targets to improve performance.

~ Innovation.

~ PED.

~ YED.

~ Ethics.