yr 12-Operations Flashcards
Operations
The manufacturing process
Strategic role of operations
-Cost leadership
-Differentiation
Cost leadership
Aiming to have the lowest costs or be the most price competitive in market
e.g Bulk buying, specialised labour lines
Differentiation
Distinguish products in some way from those of competitors
how to differentiate goods
-Have unique features
-Vary product quality
-Allow for additional custom features
how to differentiate a service
-Amount of time spent
-Level of expertise
-Flexibility
influences on operations
-Globalisation
-Cost based competition
-Technology
-Quality expectations
-Government policies
-Legal regulations
-Environmental sustainability
Globalisation
the integration of multiple economies through trade
cost based competition
Respond to rivals methods to lower their production costs and prices
Technology
When a Business changes its operations process due to product being obsolete, product enhanced by tech, operations is more efficient
Quality expectations
Business must respond to quality expectations the consumers have
Government policies
Broad goals of the government
Legal regulations
specific rules that businesses have to follow set by the law
