responding to kris Flashcards
responses to KPIs
staff training staff motivation change management styles or management skills increase investment in technology improve quality in production initiating lean production techniques cost cutting initiate lean production techniques redeployment of resources
staff training
the process of improving skills and knowledge. this can be on the job or off the job. can be applied to productivity growth, customer complaints.
the impact of this strategy is creating more confident and efficient therefore can lead to an increase in outputs and sales. an increase in quality
the disadvantages of staff training is the money and time required
staff motivation
staff motivation is the willingness of employees to work hard to achieve business objectives. requires the employee’s effort and commitment. applies to the KPIs such as staff absenteeism, staff turnover, customer complaints. its advantages are it increases productivity, increase in morale, leading to greater customer service. disadvantages cant motivate everyone with certain employees.
change is management style or skill
the management styles such as autocratic, persuasive, consultative, participative, laisse-faire and management skills such as communicating, delegating, leading, decision making, planning, and interpersonal skills apply to KPIs such as level of staff turnover and rate of staff absenteeism.
These strategies advantages are it will increase staff morale, increase sales at a low cost. as well as being quick to implement. disadvantages include possible resistance from managers who may not be comfortable with other styles or lack of skills
increased investment in technology
implementing new technology into the business to respond to KPIs such as improve productivity growth, reduce the level of wastage, increase net profit. examples include automated production line, CAD, computer-aided manufacturing.
advantages increase outputs whilst reducing inputs with more products available for sale. increased accuracy, decreased waste.
disadvantages are its initially expensive, training costs and redundancy.
improving quality in production
improving how much the business fully meets customer expectations when consuming a good or service. a business must be consistently providing quality when applying to KPIs such as customer complaints and the percentage of market share. examples are implementing quality control, quality assurance, total quality management.
advantages are increased sales as customer expectations are met, increase reputation.
disadvantages are increased costs either through sourcing higher quality materials or doing more quality checks
cost-cutting
a business will look to reduce costs without having a significant impact on the overall value to the customer. costs can be cut in materials, wages, stock, rent, waste
applies to increase net profit, reduce wastage, improved productivity growth.
advantages include increased profit, satisfying shareholders. greater efficiency with the use of resources decreased waste
disadvantages
compromise quality, conflict with management, decrease morale.
initiating lean production techniques
lean production is about minimizing the waste produced by businesses while improving the value to the end customer. waste can come in many forms such as time, defects, inventory, overproduction. applied to the KPIs such as level of waste, number of customers complaints, percentage of market share. advantages are a reduced waste, therefore, fewer inputs for more outputs. also increased the rate of production.
redeployment of resources
the movement of resources to a new place or roll. resources can be natural (raw materials), (employees) or capital (machinery/equipment). can be applied to KPIs such as level of wastage, number of sales, net profit figures and productivity growth.
advantages are improved motivation, improve the efficiency of resource use, lower costs
disadvantages are time, costs and decrease motivation.
