Influences on Operational Management Flashcards
Global Web
network of global suppliers a business has chosen based on low cost and highest efficiency
Quality
The reference to how well designed, made and functions goods are + the degree of competence services are performed
Cost-Based Competition
Businesses compete with one another in keeping their costs as low as possible in order to beat each other on having the cheapest price in the market and therefore more customers
Compliance Costs
The cost a business has to pay in order to comply with regulations
Outsourcing
The use of outside specialist businesses to undertake one or more key business functions
Corporate Social Responsibility (CSR):
When a business goes beyond mere compliance with the law and actively seeks to act in a way that benefits the broader community
