Chapter 59, Operations management objectives an external influences

Question 1

Factors are taken into account when setting operations management objectives

Answer 1

• The legal status and size of the business
• objectives of the business
• the economy
• level of competition
• the government
• Monetary policy committee

Question 2

External Factors on operations managment

Answer 2

Social Factors

• trends
• Holidays
• Religious changes

Ethical Factors

• production
• level of waste
• labelling

Environmental Factors

• a healthy regard for the planet
• sustainable resources

Legal Factors

• legislation
• complying with the law

Economic Factors

• The state of the economy
• Level of unemployment
• The Cost of labour
• level of growth

Political Factors
- The nature of the government

Technology Factors

• Technology changes
• Technology advancements in energy