Management Strategies to Respond to Key Performance Indicators (VCE SSCE Business Management): Flashcards
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Practise the cards
10 cards from this deck
Two purposes of management strategies responding to KPIs
Two purposes of management strategies responding to KPIs
Respond to change; identify new business opportunities
Lean production definition
Lean production definition
Reduces costs, waste; increases efficiency via minimal inventory
Developer of lean production principles
Developer of lean production principles
Taiichi Ohno at Toyota after WWII
Redeployment of resources meaning
Redeployment of resources meaning
Relocating materials, equipment, labour to improve efficiency
Innovation in business context
Innovation in business context
Improvement/invention providing new products/services
Global sourcing definition
Global sourcing definition
Sourcing goods/services globally for highest value & efficiency
Just In Time (JIT) technique
Just In Time (JIT) technique
Resources arrive precisely when needed in production
Staff training benefit re: consistency
Staff training benefit re: consistency
Ensures consistency in practices and processes
Preferred management style in normal operations
Preferred management style in normal operations
Participative or consultative
Three key employee KPIs to monitor
Three key employee KPIs to monitor
Staff turnover, absenteeism, workplace accidents