Operation & Strategies

Operation & Strategies

1. RESISTANCE TO CHANGE

   • Strategies to deal with financial costs: Financial costs, purchasing equipment, redundancy payouts, retraining, reorganising plant layout inertia

2. INVENTORY MANAGEMENT

   • ordering, storage, placing and handling nof raw materials and stock

3. TECHNOLOGY

   • improving flows, cutting costs, keeping records

4. OUTSOURCING

   • Hiring of an external third party to perform tasks for a business

5. NEW PRODUCT AND DESIGN

   • New ideas and innovations, being tested and then carried out to be put into place

6. Global Factors

   • Global Factors and Strategy. Businesses are affected by an external environment as much as they are affected by the competitors. Global factors influencing business are legal, political, social, technological and economic. Understanding of these factors is important while developing a business strategy.