Term
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Definition
Operations or production will always be in the definition.
*Long range game plan for the production of the corporation's products and services. Road map of what to do to achieve the business strategies. |
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Term
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Definition
Long range game plan of an organization and provides a road map of how to achieve the corporate mission.
Business Plan-> Operations, Markting, Finance/Acc |
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Definition
| Long range goals unique to each organization. Who the company is what the company does and who our customers are. |
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Definition
Cottage system - family skills passed down.
Factory system established socialization and specialization (beginning of IR) |
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Term
| 3 Main Elements of a consumer durable good |
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Definition
1. Produced in high volume
2. price sensitive
3. typically have large, established markets with standardized design
cell phone, camera, etc |
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Term
| Why are international companies doing better than US? |
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Definition
•Abundance of willing workers
•Low cost of labor
•Teamwork management
•cultural uniformity
government subsidies
absence of destructive competition |
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Term
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Definition
Providing "value added" service
How products are delivered and supported |
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Term
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Definition
Prodividing a wide variety of products (mass customization)
How fast a firm can produce a new product line |
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Definition
| Providing products reliably and quickly |
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Definition
| Providing high quality products focus is on product and product's quality |
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Term
The Generic Business Strategy Model
Type & Priority
1)Cost |
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Definition
| providing low price products, controlling costs across the board |
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Term
| Other considerations for break even analysis |
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Definition
Product quality
dependability of delivery
flexibility |
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Term
| At which volume would each of the 3 processes be preferred? |
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Definition
(Break even point)
Set TC's equal to each other
FC+VC(x)=FC+VC(x)
x=# of units where you would be indifferent between two processes |
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Term
| To find most economical process for a volume of x units use... |
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Definition
TC=FC+VC(x)
Whichever is lowest $= most economical |
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Term
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Definition
•Commonly used to choose among processing alternatives
•Assume costs and volumes are known with certainty
•Assume costs remain the same over any volume range
•Time value of money not taken into account |
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Term
| Allocation of resources to strategic alternatives |
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Definition
Scarce resources - work backwards
•provide consistent workforce
•always only so much |
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Term
| Production Process and technology plans |
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Definition
Often based on lot size - you would make it different if you made more than 1
•make a difference in your choice of production based on volume |
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Term
| Positioning the service system |
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Definition
Standardized -> Product focused -> low customer contact
custom -> process focused -> high |
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Term
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Definition
•Elimination of slave labor
•Abundance of willing workers
• Separation of capitalist from employer
•railroad - can build things and move it. |
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Term
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Definition
Strategic - Long term, 5 yrs
Tactical - Operation, 6-18months
control -> now, something is wrong |
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Term
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Definition
| Email, internet, robotics, total quality, managementprocess, supply chain management, statistical |
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Definition
| Greater than 2/3rd of US workforce is service industry. 1/2 of those are white collar jobs |
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Definition
Took key from military
•Military minds made food that could last, etc
•Quantitative techniques, linear programming, mathematical modeling |
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Definition
Hawthorne Studies - messed w/ lights on production line
People worked harder when someone was watching |
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Term
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Definition
Frederick Winslow Taylor (father of scientific management)
Everything is an equation and can be optimized
Made standards and efficiency measures
Methods analysis and time studies, efficiency and mass production |
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