U4AOS2- Management Strategies Flashcards
Define “Staff Training”
Staff training can be on-the-job or off-the-job and involves a business equipping employees with the knowledge and skills required to perform work tasks.
Define “Staff Motivation”
Motivation is the willingness of an individual to expend energy and effort in completing a task.
Define “Change in Management Styles”
A change in management style involves a manager altering the way they direct and communicate with employees
Define “Change in Management Skills”
A change in management skills involves a manager altering the way they approach business tasks and collaborate with employees.
Define “Cost Cutting”
Cost cutting is the process of reducing business expenses.
Define “Increased Investment in Technology”
Increased investment in technology involves implementing automated and computerised processes into a business’s operations system
Define “Improving Quality in Production”
Improving quality in production involves a business implementing processes that increase the perceived value of its good or service
Define “Initiating Lean Production Techniques”
Initiating lean production techniques involves a business adopting lean management strategies to systematically reduce waste in all areas of production while also improving customer value.
Define “Redeployment of Resources”
Redeployment of resources involves reallocating natural, labour, and capital resources to different areas of the business to improve productivity and effectiveness.
Define “Innovation”
Innovation is the process of altering and improving or creating new products or procedures.
Define “Global Sourcing of Inputs”
Global sourcing of inputs involves a business acquiring raw materials and resources from overseas suppliers.
Define “Overseas Manufacture”
Overseas manufacture involves a business producing goods or services outside of the country where its headquarters are located.
Define “Global Outsourcing”
Global outsourcing involves transferring specific business activities to an external business in an overseas country.