Operational Objectives Flashcards
1
Q
what are operational objectives?
A
Goals set for the business for its operations department
2
Q
5 Main operational objectives
A
- cost
- adding value
- quality
- time/speed of response
- environmental factors
3
Q
Cost
A
Important to most businesses
4
Q
Adding Value
A
Process of turning inputs into a finished product and making a profit on it
5
Q
Quality
A
Important for customer satisfaction
6
Q
Time/Speed
A
As people are often ‘money rich and time poor’ consumers want a quick delivery
7
Q
Environmental Factors
A
Businesses recognize the importance of appearing environmentally friendly.
8
Q
What is productivity?
A
The output per worker
9
Q
What is efficiency?
A
How good the business is at using all its resources
10
Q
A
