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Strategies (Operations (Quality management (Assurance, Improvement,…
Strategies
Operations
Technology- leading edge, establishment
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Inventory management- advantages and disadvantages of holding stock, LIFO (last-in-last-out), FIFO (first-in-first-out), JIT (just-in-time)
Supply chain management- logistics, e-commerce, global sources
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Overcoming resistance to change- financial costs, purchasing new equipment, redundancy payments, retraining, reorganising plant layout, inertia
Performance objectives- quality, speed, dependability, flexibility, customisation, cost
Global factors- global sourcing, economies of scale, scanning and learning, research and development
Marketing
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People, processes and physical evidence
Promotion
Elements of the promotion mix- advertising, personal selling and relationship marketing, sales promotions, publicity and public relations
The communications process- opinion leaders, word of mouth
Price including pricing methods- cost, market, competition-based
Pricing strategies- skimming, penetration, loss leaders, price points
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Place/distribution
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Channel choice- intensive, selective, exclusive
Physical distribution issues- transport, warehousing, inventory
Market segmentation, product/service differentiation and positioning
Human Resources
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Recruitment- internal or external, general or specific skills
Rewards- monetary and non-monetary, individual or group, performance pay
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Global- costs, skills, supply
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Workplace disputes
Resolution- negotiation, mediation, grievance procedures, involvement of courts and tribunals
Finance
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Profitability management
Cost control- fixed variable, cost centres, expense minimisation
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Cash flow management
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Distribution of payments, discounts for early payment, factoring
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