Post on 05-Dec-2014
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transcript
Business Operations
A flipped lesson
Nature of Management
Importance of management skills
Adhering to business goals
Now .. How?
• Strategies
4 key business functions
Goods - tangible
Services - intangible
• OPERATIONS MANAGEMENT
•Produce a good or service
Uses inputs from variety of resources:PhysicalHumanFinance
Meet needs of customers.
Page 198 Questions 3,4,5+6
Page 201 Questions 2+3
Production Process
Inputs
Transformation
Outputs
• Inputs
• Raw materials• Capital equipment.• Labour• Information - knowledge• Time• Money
Page 207 Questions 1+2
Quality management
• Minimise waste and defects.
• Strictly conform to standards.
• Reduce variance in final output.
• Optimise production process.
• Reduces defects.
• Minimise waste.
Ensure standards are met.
Eg. ISO standards.
Total Quality Management (TQM)
• Continuous improvement.
• All aspects of business operations.
• Commitment by every employee.
• Maintain a customer focus.
• Retain competitive advantages.
Page 213 Questions 1,2,3+4