increase output,motivation and quotas. reduce the variable and fixed costs.
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what does a fixed cost not vary with?
output
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an example of a fixed cost...
salary
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how can you reduce your fixed costs?
move location, reduce staff,reduce staff wages,choose cheaper energy suppliers.
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give an operational objective on the topic of costs...
to reduce costs by x in x time frame.
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give an operational objective on the topic of quality...
introduce a quality assurance scheme.perhaps have an objective to lower the faulty rate.e.g. 20 vases were damaged last year so this year we aim to half that.
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give an operational objective on the topic of speed of response
to ensure that all customer enqires are answered within the given time.
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give an operational objective on the topic of dependabilty
inform all customers via e commerce of any changes/problems regarding delivery.
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give an operational objective on the topic of environment.
to reduce companies carbon emissions by 20% in the next 4 years.
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give an operational objective on the topic of added value.
improve customer service feedback by offering workers training courses in this area.
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what is the calculation for profit?
sales revenue-total costs= profit
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what are the benefits of improving business efficiency?
more customers receive the product therefore increasing revenue,demand will increase as people will like the efficient service therefore better customer satisfaction. reduce labor costs and greater workforce satisfaction.
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what is job design?
Aims to improve motivation and job satisfaction by reducing repetitive and mechanistic aspects of work and increasing variety, challenge and responsibility.
they occur when there is a disagreement between the management and the trade union representatives. sometimes it is serious enough to result in industrial action.
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what is industrial action?
when employees work to rule,strike or have an overtime ban in defiance of a company change or action.
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give 5 reasons to involve employees in the decision making process...
more viewpoints,increased motivation,additional knowledge and experience, employees will feel valued, it may save time and money.
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how might firm engage employees at work?
job enrichment,team work, involving employees in decision making,increase salary,bonus,fringe benifits, more challenging tasks and listening to employee opinions.
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what influences the choice of methods used by business to engage employees?
finances,skill of workforce, type of business structure, time constraints and culture.
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Other cards in this set
Card 2
Front
what does a fixed cost not vary with?
Back
output
Card 3
Front
an example of a fixed cost...
Back
Card 4
Front
how can you reduce your fixed costs?
Back
Card 5
Front
give an operational objective on the topic of costs...
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