5C and D

Question 1

what is Innovation

Answer 1

innovation is the process of altering and improving or creating new products or procedures. When a business implements innovation it is often fulfilling an unmet customer need or aiming to improve current products to increase customer satisfaction. In turn, this can increase a business’s sales.

Question 2

Global sourcing of inputs as a business opportunity (doesn’t have to be for business opportunity)

Answer 2

Global sourcing of inputs involves a business acquiring materials and resources outside of the country externally.

Question 3

Global outsourcing as a business opportunity

Answer 3

Global outsourcing involves transferring specific business activities to an external business in an overseas country. By doing so, a business often gains the expertise of highly-skilled employees who are able to efficiently complete business tasks, therefore minimising the amount of time and resources a business uses in its activities.

Question 4

In Innovation(n.), What aspects of a business are innovated

Answer 4

The product is innovated=
-Porters lower cost strategy(n.)
-Porter’s differentiation strategy(n.)
-Lean management(n.)
-Pull(n.)=
-One-piece flow(n.)=
-takt(n.)=
-zero defects(n.)=

Automated production lines(n.)
Robotics(n.)
Computer-aided design(n.)
Computer-aided manufacturing(n.)
Artificial intelligence(n.)
Online services(n.)
Materials management
-Forecasting(n.)=
Master production schedule(n.)=
Materials requirement planning(n.)=
Just in time(n.)=
Waste minimisation(n.)
-reduce(v.)=
-reuse(v.)=
-Recycle(v.)=
-Corporate social responsibility(n.)=
What do Corporate social responsibilities consider=
Corporate social responsibilities for inputs
Corporate social responsibilities for processes
Corporate social responsibilities for outputs
Global sourcing of inputs(v.)=
Overseas manufacture(n.)=
Global outsourcing(v.)=

-Improving quality
-Quality control(n.)=
-Quality assurance(n.)=
-Total Quality Management(n.)=

Question 5

In global sourcing of inputs as a business opportunity(n.), what inputs are being sourced.

Answer 5

Internationally sourcing inputs

Question 6

In Overseas manufacture as a business opportunity(n.), what process are undertaken in different countries.

Answer 6

All manufacturing takes part overseas
-Business has full control of this activity overseas.
Implementing overseas manufacturing may provide a business with greater access to global markets, allowing it to swiftly enter these markets and become a global competitor. This can consequently increase a business’s brand recognition and improve its future performance.

Question 7

In Global outsourcing as a business opportunity(n.), what activity is outsourced to other companies.

Answer 7

• Part or all manufacture takes part overseas
  -Business normally gives other companies business activities to part take in that is necessary for the business to fulfil.

Question 8

Innovation(n.) effect on KPI’s=

Answer 8

Number of sales
Net profit figures
Percentage of market share
Rates if staff absenteeism
Level of staff turnover
Number of customer complaints
Number of website hits
Rate of productivity growth
Level of wastage
Number of workplace accidents

Question 9

Global sourcing of inputs as a business opportunity(n.)effect on KPI’s=

Answer 9

Net profit figures
Number of sales
Percentage or market share
Number of customer complaints
Number of website hits

Question 10

Overseas manufacture as a business opportunity(n.)effect on KPI’s=

Answer 10

Net profit figures
Number of sales
Percentage or market share
Number of customer complaints
number of workplace accidents
Rate of productivity growth

Question 11

global outsourcing as a business opportunity(n.)effect on KPI’s=

Answer 11

Net profit figures
number of sales
Percentage of market share
Rates of staff absenteeism
Rate of productivity growth
Level of wastage
number of customer complaints