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Theme 2 - part 2 (Making operational decisions (Managing quality (benefits…
Theme 2 - part 2
Making operational decisions
Operations
production processes
batch production
flow production
job production
effectiveness of production
productivity (producing more)
efficiency (reducing costs)
working with suppliers
managing stock
bar gate stock graphs
buffer stock
re-order quantity
maximum stock
lead time
just in time (JIT) stock
procurement
relationship with suppliers
quality
delivery
cost
speed
reliability
availability
cost
trust
impact of logistics
costs
reputation
customer satisfaction
Managing quality
quality control
quality assurance
benefits of quality
controls costs
gives competitive advantage
Sales
Sales process
product knowledge
speedy and efficient service
customer engagement
respond to customer feedback
post-sales service
importance of good customer service
Making human resource decisions
Organisation structures
hierarchical
flat
centralised
decentralised
effective communication
insufficient communication
excessive communication
barriers to communication
different ways of working
hours of work
flexible hours
full-time
part-time
length of contract
permanent
temporary
freelance
impact of technology
remote working
efficiency
Recruitment
job roles
directors
senior managers
supervisors/team leaders
operations and support staff
how to recruit
documents
job description
person specification
application form
CV
methods
internal recruitment
external recruitment
Training
ways of training
formal training
informal training
self-learning
ongoing training
target setting
performance reviews
Why train?
motivation
retention
new technology
Motivation
importance of motivation
attracting employees
retaining employees
productivity
how to motivate
financial methods
remuneration
bonus
commission
promotion
fringe benefits
non-financial methods
job rotation
job enrichment
autonomy
Making financial decisions
Income statement
revenue
cost of sales
gross profit
expenses
net profit
Profitability
gross profit margin
net profit margin
average rate of return
Business performance
graphs and charts
financial data
market data
marketing data
market share
correlation
use and limitations of financial information
percentages