Role of operations mgt
Business processes that involve transformation or, more generally, 'production.'
What is operations?
Goals that relate to particular aspects of the transformation process.
What are performance objectives?
Globalisation, technology, quality expectations, cost-based competition, government policies, legal regulation, environmental sustainability.
What are external influences on operations?
The processes involved directly with transformation.
What are operation processes?
Long-term, broad aims affecting all key business areas; that is, the strategic role of each key business function involves the managers of each function contributing to the strategic direction or strategic plan of the business
What is strategic?
Quality, flexibility, speed, customisation, dependability and cost.
What are the six main performance objectives that can be allocated to particular KPIs?
The removal of barriers of trade between nations. It is characterised by an increasing integration between national economies and a high degree of transfer of capital (facilities and/or machinery), labour, intellectual capital and ideas, financial resources and technology.
What is globalisation?
Machinery and technology displace people by doing work they are doing.
Marketing, finance and human resource management (HRM)
What are the essential business functions?
The integration and management of the flow of supplies throughout the inputs, transformation processes (throughput and value adding) and outputs in order to best meet the needs of customers.
What is supply chain management (SCM)?
Environment Protection and Biodiversity Conservation Act 1999 (Cth), Corporations Act 2001 (Cth), Superannuation Guarantee Act 1992 (Cth), Work Health and Safety Act 2011 (Cth), etc.
What are some examples of laws affecting and shaping business operations in Australia?
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.
What is the critical path analysis (CPA)?
Input, labour, processing, inventory, quality managment
What are the different sources of operational costs in business?
A method of pricing inventory that assumes that the last goods purchased are also the first goods sold and therefore the cost of each unit sold is the last cost recorded.
Requires where environmental impacts are uncertain, a business undertakes actions that are most likely to cause the least environmental impact.
What is the precautionary principle?
Labour, energy, raw materials, machinery and technology (capital equipment).
What are common direct inputs?
The mutual dependence that they key business functions (operations, marketing, finance and human resources) have on one another.
What is interdependence?
When a person's job no longer exists, usually due to technological changes, an organisational restructure or a merger or acquisition.
What is redundancy?
The financial profitability, social impact and the environmental impact of a business.
What is the triple bottom line?
A formal process used to determine the present level of skilling and any skill shortfalls that need to be made up either through recruitment or training.
What is a skills audit?