business operations

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business operations
2012-01-22 19:20:40
bussiness studies operation

HSC 2012 notes
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  1. Define the term operations
    refers to the business processes that involve transformation or more generally production
  2. Distinguish between inputs, transformation processes and oputs in operation process
    inputs include tangible things such as raw materials, land, labour resources, capital in the form of mechinary, technology as well as intangible inputs such ideas and information. changing the inputs in to outputs in the transfomation process. outputs are the goods and services a business provides
  3. Describe what is meant by total quality management
    a concept that focuses on managing the total business to deliever quality to customers
  4. demonstrate the main differences between quality control and quality assurance
    quality control involves inspecting the product at various stages of the productin process to check for any problems and defects. while quality assurance involves a system to ensure set standards are achieved.
  5. analyse how quality management can make a business more competitive
  6. Identify the main advantages and disadvantages of holding stock
    • advantages
    • customers demands can be met when there is stock available
    • if a produst runs out there is and alternative thant can be offered
    • reduce time between order and delivery

    • Disadvantages
    • cost to hold stock including spoilage, storage, insurance ect.
    • the invested capital, labour and energy that is not available else where
  7. Explain the importance of inventory management
    • inventory refers to the amount of raw materials work-in-progress and finished goods that a business has on hand at any particular time.
    • strategic applied management of inventory will have a significant impact on the transformation process
  8. Evaluate which inventory is perferable for a medium sized manufcturing business:LIFO (last in first out) or FIFO (first in first out)
  9. Examin three examples of eithically and socially responsibile issues that may arise in operation management
  10. Identify the main types of layout
    • Plant Layout- is the arrangement of equipment machinary and staff within a facility
    • Process Layout- is the arrangement of mechines where the mechines and equipment are grouped together by the function they perform
    • Product Layout- is where the equipment arrangement relates to the sequence of tasks performed in manufacturing a product
    • Fixed Position Layout-is where production remains in one laction due to its wieght or bulk
    • Office Layout- is tailored to meet the needs of the business
  11. Deduce what an operations manager needs to consider when selecting the facilities design and layout
  12. Outline the concept of cost leadership and product differentiation
    • Cost Leadership involves amining to have the lowest cst or to have the most price-competitive in the market.
    • Product Differentiation means distinguishing products in some way from its competitors
  13. Identify the performance objectives
    • Quality
    • Customisation
    • Flexibility
    • Cost
    • Speed
    • Dependability
  14. Identify the correct order of steps in the product and design and development process
    Market research, product design and prototype,, prototype testing and assessment, product and production refinement, product distribution and launch.
  15. Distinguish between leading technology and established technology
    Leading Technology is the technology that is the most advanced or innovative at any point in time. Established Technology is the technology that has been developed and widely used and is simply accepted without question
  16. demonstrate how the operations function is starting to intergrate a consumers perspective
    • operation managers have noticed that customers not only want products that are innovative at a low cost to improve the quality of life, but they also desire the operation process to be:
    • - waste minimal resources in their production
    • - reflect fair value for any labour used in the process (child labour, sweat shops ect)
    • -operate at a low cost increase profitability
    • - intergrate enviromental awareness
    • - reflect changes in the needs of a consumer
  17. define the stratigic
    means affecting all key business areas, that is the stratigic role of the operation mangement involves operations managers contributing to strategic direction or strategic plan of the business
  18. distinguish between the terms standardised and customised
    standardised goods are those that are mass producted usually on assembly line. standardised products are usually uniformed in quality to meet set guide lines. produced with a production focus.

    customised goods are those that are varied according to the needs of customers. these goods are produced with a market focus
  19. define the term interdependents
    refers to the mutual dependence that the key functions have on one another. the key business functions work best when they overlap and work towards a common goal.
  20. define the term globalisation
    refers to the removal of barriers of trade between nations.
  21. identify the key eight influences on operation managment
    • globalisation
    • technology
    • quality expectations
    • cost-based competition
    • goverment policies
    • legal regulations
    • environmental sustainability
    • corporate responsibility
  22. define the term transformation
    refers to the conversion of inputs into outputs
  23. distinguish between sequencing and scheduling
    sequencing refers to the order in which tasks are performed in. scheduling refers to the length of time taken to perform the tasks
  24. clarify what a gantt chart outlines
    the gantt chart is a type of bar chart that shows both the sequencing and scheduling
  25. Define the term critical path analysis
    is a scheduling method or technique that shows what tasks need to be done, how long they take and what order is necessary to complete those tasks