- Created by: abbiemurray72
- Created on: 19-04-16 14:01
Objectives - decisions made on the process in which the products are produced. Examples of objectives include quality, speed of response, reliability, environment, flexibility, adding value. Dependent on variability of demand, volume and variety of output and visibility of production. Influenced by other areas of business and PESTLE
Calculations - Output per employee, unit costs, capacity utilisation. Identifies issues to improve production.
Efficiency - Capacity, lean production, technology and productivity. Try to get the most out of inputs. Reduce costs, meet demand, decrease defects, training. Try to increase the amount gotten out of the inputs by reducing defects and increasing quality.
Quality - Control and Assurance. Measures to ensure quality products are provided. Improves competitivity and image. Poor quality incurs costs and damages rep. Must be acknowledged by employees as valuable.
Inventory - Inventory, Mass Customisation, Supply for demand, Outsourcing. Goods held depends on opportunity cost, space and use by. Charts for inventory = re-order level, buffer inventory, lead time reorder quantities but can cause issues. Supply chain is where things come from dependent on the service of others.
Objectives - Engagment, Talent Development, Training, Diversity, Alignment of Values, Number Skill and Location of Employees, PESTLE,
Analysis - Labour turnover and Retention Rates, Labour productivity, Employee costs as a % of turnover, Labour cost per unit
Organisational Design and Flow - Job design, Enrichment, Rotation, Englargement, Empowerment, Hackman and Oldman Model, Organisational design, Structure, Hierarchy, Chain of Command, Span of Control, Authority, Flat or Tall Hierarchy, Decentralisation, Centralisation, Delegation, Redundancy, Redeployment, Termination, Natural Wastage, Dismissal, Job Description, Job specification, Recruitment and Selection, Training, Performance Appraisal
Motivation and Engagement - Improves absenteeism, retention, innovation, profitability and productivity. Taylor, Scientific Management, Maslows Hierarchy of Needs, Mayo, Herzberg Two factor theory, Motivators and Hygiene factors, Performance related pay, Piece rate pay, Comission, Profit related pay, share ownership, Responsibility, Meaningful work, Involvement
Employer-Employee Relations - Trade Unions, Legislation, Work Councils, Advisory Conciloatopm and Arbitration Services
Objectives - Cash flow, Profit, Gross Profit, Operating Profit, Profit for the year, Revenue, Costs, Capital Expenditure, Return on Investment, Capital Strucutre, Equity, PESTLE.
Analysis - Budgets, Income Budget, Expenditure Budget, Profit/Loss Budget, Variance analysis, Favourable Variance, Adeverse Variance, Cash flow forecasting, Inflows, Outflows, Breakeven, Contribution, Contribution per unit, Margin of Safety, Profitability, Payables, Recievables
Sources of Finance - Equity, Loans, Venture Capitalist, Mortgages, Crowdfunding, Retained Profit, Sales of Assets, Overdraft, Debt factoring, Trade credit
Cash flow and Profit - Factoring, Sale and Leaseback, Improved capital control, Increase prices, Poor management, Too much trade credit, Overtrading, Unexpected expenditure, Cutting costs, Using capacity fully, Increase efficiency,
Objectives - Sales Volume and Value, Market Size, Market and Sales Growth, Market Share, Brand loyalty, Relationship Marketing, PESTLE, Used for Evaluation and Motivation
Markets and Customers - Market research, Quantative, Qualitative, Primary, Secondary, Market Mapping (based on high/low quality or price), Sampling, Stratified Random Sampling, Random Sampling, Quota Sampling, Correlation, Confidence Interval, Extrapolation, Price Elasticity of Demand, Income Elasticity of Demand
Segementation, Targeting and Positioning - Market Segmentation, Market Targeting, Market Positioning, Income Segement, Value Segment, Geographic Segment, Demographic Segment, Behavioural Segment, Niche vs Mass Marketing,