Core concepts
Clue: It is the business function concerned with the transformation of inputs into outputs.
Question: What is operations management?
Clue: The primary strategic purpose of operations is to achieve this type of sustainable advantage over competitors.
Question: What is a competitive advantage?
Clue: Operations is not siloed; it relies deeply on other key business functions, demonstrating this concept.
Question: What is interdependence?
Clue: These are physical outputs that are tangible, meaning they can be seen and felt.
Question: What are goods?
Clue: This process involves the conversion of inputs (resources) into outputs (goods and services).
Question: What is transformation?
Clue: A strategy that aims to make the business the lowest-cost producer in its industry.
Question: What is cost leadership?
Clue: Operations is integrated with this function because operations produces the products that satisfy the wants of the target market.
Question: What is marketing?
Clue: Intangible outputs that involve carrying out a task, such as providing professional advice or styling hair.
Question: What are services?
Clue: The creation of extra or added value as inputs are transformed into outputs.
Question: What is value adding?
Clue: A strategy that seeks to distinguish products from competitors through unique features, quality, or service.
Question: What is good/service differentiation?
Clue: Operations depends on this specific business function for budgets and funding for equipment.
Question: What is finance?
Clue: The practice where a business requires its suppliers to engage in ethical conduct, such as paying fair wages and using environmentally friendly practices.
Question: What is ethical sourcing?
Clue: The raw materials, components, and parts used to produce a good or supply a service.
Question: What are inputs?
Clue: This term is used to describe long-term, broad aims affecting all key business areas.
Question: What is strategic?
Clue: This function relies on operations to identify what employee skills are needed to hire and train skilled labor.
Question: What is human resources?
Clue: A measure of how efficiently goods and services are produced, which is usually measured in terms of output per labour hour.
Question: What is productivity?
Clue: This operations management approach is designed to eliminate waste at every stage of production, meaning "no excess".
Question: What is lean production?
Clue: The achievement of maximum output with the minimum level of inputs, without wasting resources.
Question: What is efficiency?
Clue: Operations decisions have direct impacts on other functions; for example, a business deciding to acquire another brand would have significant implications for this function.
Question: What is the finance function?
Clue: A movement that grew as a direct result of consumers advocating for operations processes to integrate notions of a fair price, decent working conditions, and local sustainability.
Question: What is the fair trade movement?