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Business > Chapter 8 - Operations > Flashcards

Chapter 8 - Operations Flashcards

1
Q

What is Total Quality Management

A

Focussing on the quality

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2
Q

What is Quality Control

A

Focussing on product

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3
Q

What is Quality Assurance

A

Process focussed

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4
Q

Advantages and disadvantages of quality control

A

D

  • not good for food / consumables / medicines
  • batch sampling is unreliable and highly wasteful

A
- generally quite cheap

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5
Q

Advantages and disadvantages of quality assurance

A

D
- more expensive short term

A
- more effective for consumables

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6
Q

What are the three parts to the operations process

A

Inputs

Transformations

Outputs

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7
Q

define strategies

A

the actions that a business takes to achieve certain goals

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8
Q

what do specialist managers in operations do

A

focus on strategies to improve process productions and to create the ideal factory or office layout

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9
Q

what do specialist managers in marketing do

A

determine the appropriate markets for the businesses’s products, and decide on pricing, product features, promotion etc

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10
Q

what do specialist managers in human resources do

A

they are concerned with recruiting, training, employment contacts and separation of employees who are required to run the business successfully

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11
Q

what do specialist managers in finance do

A

responsible for the financial requirements, budget allocation and financial record keeping

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12
Q

what are the four key business functions

A

operations

marketing

finance

human resources

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13
Q

give examples of finance

A

financial planning

cash flow management

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14
Q

examples of marketing

A

product design
promotion
distribution

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15
Q

give examples of human resources

A

acquisition
training and development
employment contacts

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16
Q

define interdependence

A

the mutual dependence that the key functions have on one another

work best when they overlap, and employees work towards common goals

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17
Q

define division

A

the separation of key business functions specialised units or departments

the business is divided into functional areas

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18
Q

define operations

A

the business processes that involve transformation or, more generally, “production”

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19
Q

define operations management

A

consists of all the activities in which managers engage to produce a good or service

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20
Q

who is responsible for transforming inputs into outputs

A

operations management

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21
Q

define tangibles

A

goods that can be touched

22
Q

define intangibles

A

goods that cannot be touched

23
Q

give examples of transformed resources

A

materials (basic elements used in production process)

information (the knowledge gained from research, investigation and instruction, which result in an increased understanding)

customers (when their choices shape inputs)

24
Q

give the inputs, transformation process and outputs of a clothing factory

A

inputs: material, pattern cutters, labourers, sewing machines

transformation process: computer-based designing, machining, branding, dyeing

outputs: dresses, shirts, trousers etc

25
Q

give examples of inputs

A 
people
skills/intelligence
visions
knowledge
capital
cash flow
26
Q

give examples of transformations

A

assembly of manufactures via:
- mass production
OR
- labour intensive transformation

  • mechanised, automates or uses robots
27
Q

define outputs

A

the end results of a business’s efforts - the service product that is delivered or provided to the customer

28
Q

define quality management

A

the strategy which a business uses to make sure its products meet customer expectations

29
Q

define quality

A

refers to the degree of excellence of goods or service and its fitness for a stated purpose

30
Q

benefits of quality management practises

A

reduces waste and defects

strengthened competitive satisfaction

reduced costs

increased productivity and profits

improved reputation and customer satisfaction

31
Q

define quality control

A

the use of inspections at various points in the production process to check for problems and defects

32
Q

define quality assurance

A

the use of a system so that a business achieves set standards in production

33
Q

define continuous improvement

give example

A

involves an ongoing commitment to achieving perfection

e.g. Telstra

34
Q

define total quality assurance

give examples of approaches

A

an ongoing, business-wide commitment to excellence that is applied to ever aspect of business’s operation

e.g. employee empowerment; improved customer focus

35
Q

what is marketing

A

a total system of interacting activities designed to plan, price, promote and distribute products to present and potential buyers

36
Q

is marketing always about advertisement

A

not always!

it’s a way of thinking

37
Q

tips to becoming a marketing driven customer-operated business

A

always deliver what you promise

place your customers, not your products, at the centre of what you do

think of ways to build loyalty with your customers

regularly communicate with you present and potential customers

38
Q

define a target market

A

a group of customers with similar characteristics who presently, or who may in the future, purchase the product

39
Q

what three broad approaches can be adopted when selecting a target market

A
  • the mass marketing approach
  • the market segmentation approach
  • the niche market approach
40
Q

what is a mass market approach

give example

A

seeks a large range of customers

e.g. The Model T Ford - first motor vehicle to be produced and sold to the mass market

41
Q

define market segmentation

A

occurs when the total marker is subdivided into groups of people who share one of more common interest

42
Q

why do businesses segment its market

A

so it can better direct its marketing strategies to specific groups of customers

43
Q

what is a niche market

A

a narrowly selected target market segment

44
Q

define marketing strategies

A

actions undertaken to achieve business’s marketing goals

45
Q

define marketing mix

A

the combination of the four elements of marketing - the four Ps

  • product
  • price
  • promotion
  • place
46
Q

what are the four p’s

A
  • promotion
  • price
  • product
  • place
47
Q

purpose of packing

A

protects, preserves, informs and promotes product

48
Q

what is product branding

A

the brand and associated brand logo

49
Q

a business can choose what three methods for calculating price

definitions of each in book, pg 225

A

cost-based

market-based

competition-based

50
Q

what are the main forms of promotion

A
  1. personal selling and relationship marketing
    - building relationships with customers
  2. sales promotion
    - activities or materials used by business to attract interest and support for the good or service
    - e.g. free samples, coupons
  3. publicity and public relations
    - publicity = any free news story about a business’s products
    - public relations = activities aimed at building/maintaining relationship with customer
  4. advertising
    - print/electronic mass media used to communicate a message about product
    - attracts potential customers

Business (12 decks)

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