Operational Objectives (AQA A-Level Business): Flashcards
📚Flashcards
Practise the cards
10 cards from this deck
ShowHide
Practise the cards
10 cards from this deck
Operations function
Operations function
Transforms inputs into outputs (goods/services)
Added value
Added value
Difference between selling price & cost of inputs
SMART objectives acronym
SMART objectives acronym
Specific, Measurable, Achievable, Relevant, Time-bound
Main cost objective in operations
Main cost objective in operations
Reducing unit costs of production
Capacity utilisation benefit
Capacity utilisation benefit
Spreads fixed costs over more units, reducing unit costs
4 quality targets in operations
4 quality targets in operations
Wastage, returns, complaints, reliability
Speed of response
Speed of response
Time from customer order to receiving product/service
Dependability in operations
Dependability in operations
Reliability & consistency of products/services delivered
5 environmental objective areas
5 environmental objective areas
Pollution, waste, packaging, recycling, sustainability
5 key operational objective types
5 key operational objective types
Costs, quality, speed, dependability, environmental