OM

Question 1

Operations management

Answer 1

Involves organising activities/strategies that optimise processes that produce g/s’s that a business sells
>aims to use resource optimally w/o negative impact on quality

Question 2

Operations manager

Answer 2

Responsibility of implementing strategies that improves a businesses operatinos system and contribute to achievement of objectives

Question 3

Efficiency

Answer 3

How productively a business uses it resources when producing a G/S
- Lower production costs
- increase speed of production
- increase productivity (less inputs/ more outputs)

Question 4

Effectiveness

Answer 4

The extent to which a business achieves its stated objectives
- Improve quality
- Meet CSR goals
- Decrease waste
* can be short term costs

Question 5

Relationship between OM and BO

Answer 5

OM can contribute to acheivement of business objectives by increase efficiency/effectiveness in production process

Question 6

To make a profit

Answer 6

implement technology in production> reduces number of employees> decrease labour production costs

Question 7

Increase market share

Answer 7

Checking that products produced are not faulty (quality control/assurance/TQM) >Improved quality> increased customer satisfaction> higher sales/market share

Question 8

To meet shareholder expectations

Answer 8

using online services i.e website> increased online sales> increase profits> increase dividends

Question 9

Inputs

Answer 9

Resources used by a business to produce G/S’s
>labour, raw materials, time, utilities

Question 10

Processes

Answer 10

Actions performed by a business to transform inputs to outputs

Question 11

Outputs

Answer 11

Final g/s produced

Question 12

Manufacturing business

Answer 12

utilises operations systems to produce physical goods for raw materials.
Process=capital intensive
consumption and production= occurs separately
Customer contact= low degree
Tangibility= able to be touched
Storability=can be stored as inventory
Consitancy= standardised/no customisation

Question 13

Service business

Answer 13

a business provides intangible products,
usually with the use of
specialised expertise.
process=labour intensive
conumption and production= simultaneously
customer contact= high degree
Intangible
not storable
Consistancy= customisable

Question 14

manufacturing and service: Similarities

Answer 14

Optimise their operations to produce high quality outputs while decreasing cost of production
Deal with supliers
Can utilise technology

Question 15

competitiveness

Answer 15

businesses ability to match or betters its rivals
>Improve quality
>Improve productivity
> increase speed of delivery