Operational Objectives

Question 1

What is operations management?

Answer 1

Operations management describes the activities, decisions and responsibilities of the managing production and delivery of products and services

Question 2

What is the operations decision-making process?

Answer 2

• Set operations objectives
• Analyse operations data
• Make operations decisions
• Implement decisions
• Review

Question 3

Example of operations objective?

Answer 3

Objectives must fit with the overall competitive strategy of the business, for example Poundland will have a low costs objective

Question 4

Examples of typical operations objectives?

Answer 4

• Quality
• Speed of response
• Dependability
• Costs
• Flexibility
• Environmental objectives
• Defect rates
• Safety targets

Question 5

Operations objective definition

Answer 5

An operations objective is a target set for the operations function such as to improve the proportion of deliveries on time by five per cent within two years.

Should be SMARTER

Question 6

What is competitive advantage?

Answer 6

A competitive advantage is a superiority that a business possesses over its rivals that may allow it to achieve objectives, such as increased market share or profitability

Question 7

Internal influences on operational objectives?

Answer 7

• Marketing activities may determine what actually has to be produced and how it is produced
• Human resources
• Finance

Question 8

External influences on operational objectives? PEST-C

Answer 8

• Political and Legal factors
• Economic factors
• Social factors
• Technological factors
• Competition