6244496
Description
Flashcards by Dan Richards, updated more than 1 year ago
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Created by Dan Richards
over 7 years ago
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| Question | Answer |
| What are the porters 5 forces? | Buyer power Supplier Power Industry Rivalry Substitution Competition Threat of new entrants. |
| What are the tools used for industry analysis? | Porters 5 forces. REMEMBER INDUSTRY |
| What are the tools used for strategy analysis. | Porters Generic Strategy model. Value discipline model. |
| What is a strategy? | A series of actions or doings to acheive a goal. i.e "What are you going to do?" Strategy takes in internal values and external points from the past and present for the future. |
| What is the porters generic strategy model? | Focused Broad - Low Cost Differentiation |
| What is the value discipline model aspects? | Customer intimacy Product Leadership Operational Excellence |
| Describe operational excellence? | Where there is a narrow product line, high expertise in that chosen product line. An example of this would be YOOBEE. |
| Describe Customer Intimacy? | This is where the company focuses it's strategy on customers and it's interaction by providing differnate service options. |
| Describe product leadership? | Product leadership is where the company takes on ther aspect in the industry which makes it create new featues of the product that forces the industry to allign. As well as creating new products, markets and experiement with trends. |
| What are the 3 aspects to the value disicplines? | Product Leadership Operational Excellence Customer Intimacy |
| What is the tool used to look into a business's FULL operations / procedures? And what are its two parts? | Value chain analysis Support / Primary Activities. |
| Name the aspects of both parts of the FULL business operations analysis tool (As mentioned in the previous question_ | Support: Firm Infastructure, Human Recourse Management, Technology Developent, Procurement Primary: Inbound Logisitics, Operations, Outbound Logistics, Marketing and sales, Service. |
| Look at page 50 s1 | Yeah do it lol. |
| Define business process | A business process is a collection of INTERELATED (Step by step) tasked initiated in response to an event that achieves a specific outcome for the customer (The customer can be anyone, such as a new employee, Business Department, etc, etc) |
| Ultimatley what is Business Process Reengineering? | It is the analyse of the business and redesign of it's workflow to better perform on KPIs. |
| What is operations? | DOING! Operations is doing! A series of activities which is done in the business processes which ultimatley add value. |
| What is operations management | The analysis, design, and improvement of operation systems. |
| What is the difference between a business process and a business function? | A business function is a small part of a process (Invoice creation) and a process is a complete part (Customer Sales process) |
| What is a business process model? | A business process model is a diagram of steps which show a business process. Starts with a circle. Square and a diamond is a conditional part. AS - IS is basically as is. To be ios what it is going to be. |
| What is an agile business process? | Designed with the intention to be redesigned / configured. Flexible and easily adaptable to changes Can be incrementally changed with little effort. |
| What is a dynamic business process? | Processes that reconfigure themselves as they learn and are used. More the software is used the more it easier to be changed. |
| How do you calculate the value added on a product? | When calculating the value added on a product you take the value of the output and you minus the input. Ultimatley the value added on a product is the margin of the product. (Gross profit margin) |
| What is competitiveness? | The degree of which a company can make a good or service that matt the test of international markets. |
| What is productivity? And what does this measure? | The ratio of an output due to an input! This is how operations management is measured. |
| How do you measure productivity? | All outputs / all inputs include labour, energy and capital |
| age 67 | you know it means page. |
| What is data? | Data can be a single fact. |
| What is information? | information is the understanding of relationships of data. |
| What is knowledge? | Understanding pattern of information. |
| What is wisdom? | Understanding the principals of how information patterns occur. |
| What is the definition of an information system? | Can be defined as a set of interwoven components that deliver meaningul value to support processes that strategically manipulate, coordinate and control and organisation to deliever value. |
| What is an FAIS? | Functional Area information system. |
| What is a transaction? | A transaction is a business event that causes data to be recorded. |
| What does a network protocol do? | Establish a standard for communication between systems. |
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