BM Operations management Flashcards

1
Q

operations management

A

involves coordinating and organising the activities involved in producing goods or services that a business sells to their customers

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2
Q

efficiency

A

how productively a business uses their resources to produce goods or services

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3
Q

effectiveness

A

to the extent to which a business achieves their stated business objectives

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4
Q

the relationship between operations management and achieving business objectives

A

operations management achieve their business objectives by improving efficiency and effectiveness in a businesses production process. Additionally, they are in charge of implementing that optimise performance improve business objectives

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5
Q

inputs

A

are resources used to produce a product such as goods and services
. inputs allow a business to produce high quality products
such as:
- labour inputs
- capital resources
- raw materials

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6
Q

processes

A

are actions that transform inputs into outputs
such as:
- mixing
- designing
- constructing

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7
Q

outputs

A

final goods and services produced as a product, as a result of as a result of a business’s operations
system, that are delivered or provided to customers.

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8
Q

manufacturing businesses

A

use resources and raw materials to produce a
finished physical good.

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9
Q

capital intensive

A

is when a business uses a high degree of machinery
and equipment during its production process.

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10
Q

standardised goods

A

are goods that are produced consistently
and are virtually identical to one another.

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11
Q

labour intensive

A

is when a business uses a high degree of employee
involvement during its production process.

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12
Q

similarities between manufacturing and service businesses

A

. Both service and manufacturing businesses aim to optimise their operations to produce
high-quality outputs at a low cost of production.
* Both service and manufacturing businesses have to deal with suppliers during the
process of managing operations.
* Both service and manufacturing businesses can utilise forms of technology in their
operations systems.
* Both service and manufacturing businesses aim to optimise efficiency and effectiveness
in their operations.

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