Unit 3 and 4 KK key words Flashcards
Types of Buisnesses?
Soletrader, Partnership, Social Enterprise, Governement Buisness Enterprise, Private and Public limited company
Buisness Objectives
- make a profit
- meet a social/market need
- meet shareholder expectations
- Increase market share
Areas of management
Finance Operations Human Recourses Sales and Marketing Technology and support
Management Styles
Autocratic Persuasive Consultative Participative Laissez-Faire
Management Skills
planning delegation communication leading interpersonal
Corporate culture
Real and offical culture
Developing corpoate culture
communication Leading by example Training Reward and Recognition rituals and celebration
Motivation Theories
Maslows Hierarchy of Needs
Locke and Lathams Goal setting theory
Lawrence and Norias 4 drive theory
Motivation Stratergies
Career advancement investment in training performance related pay support sanction
Performance management stratergies to achieve employee and buisness objectives
employee observation
self evaluation
appraisals
management by objectives
Types of termination
dissmisial retirement redudancy resignation entitlement issues Transition issues
Participants within the work force
human recourse managers employees employer associations unions fair work commission (FWC)
Dispute resolution processes
Grievance procedures
Mediation
Arbriation
Key Elements of an operations system
Inputs
Processes
Outputs
Strategies to improve efficiency and effectiveness: Technological developments
Automated production lines
CADs
CAMs
Website developement
Strategies to improve efficiency and effectiveness: Materials
JIT
Forecasting
Master Production Schedule
Materials requirement planning
Strategies to improve efficiency and effectiveness: Quality
Quality Control
Quality Assurance
Total Quality management
Strategies to improve efficiency and effectiveness: Waste minimisation
Lean management: (POTZ) pull one piece flow Takt Zero defects
Global Considerations in Operations management
global outsourcing
overseas manufacture
global sourcing of inputs
Key Performance indicators:
percentage of market share net profit figures rate of productivity growth number of sales number of workplace accidents level of staff turnover level of wastage rates of staff absenteeism number of customer complaints
Driving forces for business change:
Managers Competitors innovation technology employees pursuit of profit reduction of costs legislation globalisation Societal Attitudes
Restraining forces for business change:
Managers Employees organisational inertia financial considerations legislation time
Management strategies to respond to KPIs
Staff training Staff motivation Change in management styles/skills increased investment in technology improving quality in production initiating lean production techniques redeployment of recourses cost cutting
