5C management strategies to respond to kpis P2

Question 1

all management strategies to respond to kpis p2

Answer 1

• increased investment in technology
• improving quality in production
• initiating lean production technique
• redeployment of resources

Question 2

1. increased investment in technology

Answer 2

can help improve productivity rate, precision, accuracy, quality therefore respond to kpi by reducing customer complaint / increase profit margin. However short term investment can cause business expense / require time for staff training.

e.g automated production lines, robotics, ai

Question 3

2. Improving quality in production

Answer 3

g/s can be considered high quality when fully meeting customer expectations therefore better g/s than competitor = competitive advantage
Can improve number of sales, increase market share, net profit figures, reduce complaint / wastage
e.g quality control / assurance, total quality management

Question 4

3. initiating lean production techniques

Answer 4

systematically reduce waste in production process therefore employing lean production technique can positively impact on level of wastage + reduction in expense = better net profit figures.

Lean management = pull, one piece flow, takt, zero defects.

Question 5

4. Redeployment of resources

Answer 5

reallocating natural, Labor and capital resources to different areas of business to improve productivity / effectiveness.

Question 6

redeployment of Natural resources

Answer 6

natural resources can be redeployed by using existing resources for different purposes e.g. corn, wheat, grape originally for alcoholic beverages were redistributed for hand sanitiser during covid pandemic

Question 7

redeployment of Labour resources

Answer 7

can be deployed by moving employees from one role / team to another depending on business needs. E.g. robot replace employee for high risk / repetitive tasks allowing employees to be redeployed to another department

Question 8

redeployment of Capital resources

Answer 8

capital resouresc can be redeployed by being repurposed for production of different goods or machinery physically moved to different location e.g. overseas – take advantage of cheap labour