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Operations Management
Week 7 Assigment
20
Management
Intermediate
04/15/2016

Additional Management Flashcards

 


 

Cards

Term
Operations management
Definition

multi-disciplinary field that focuses on managing all aspects of an organizations operation

Term
Active ops management company
Definition

can excel with higher average sales, net income and present value growth

Term
Inactive ops management company
Definition

is known to have a higher percentage of CEO compensation

Term
Production management
Definition

productivity performance measures

Term
Process mapping
Definition

taking a strategic plan and turning it into process objective by identifying key steps to move from the beginning of the process to the end of the process

Term

Strategic planning

Definition
a management directed process that is intended to determine a desired future state for a business entity and to define overall strategies for accomplishing the desired state
Term
Pooled coupling
Definition
requires the management of independent tasks that share a similar resource and is coordinated through policies and procedures
Term
Sequential coupling 
Definition
involves the management of independent tasks that must occur in a specific order and is coordinated through planning. These independent tasks usually span over several departments
Term
Reciprocal coupling
Definition
provides input and output passed between departments and is coordinated through open communication
Term
Quality Management 
Definition
 an approach taken by management to assess maintain and improve upon the activities of a process in order to maintain the quality of a product or service
Term

Best practices or benchmarking

Definition
the process of comparing the practices and strategies of other companies
Term

Supply Chain 

Definition
the sequence of processes involved in the production and distribution of a commodity
Term

Supply chain management

Definition
a system management concept employed by some organizations to optimize the factors of material costs, quality, and service
Term

Outsourcing 

Definition
the contracting or subcontracting of noncore activities to free up cash, personnel, time, and facilities for activities in which a company holds a competitive advantage
Term

Business Continuity Plan 

Definition
a plan that can be put into action if a situation arises where the normal process flow is affected due to some issue with a particular activity
Term
Project Management 
Definition
the process of planning, controlling, monitoring, and reviewing a project
Term

product recall 

Definition
is a request to return a product after the discovery of safety issues or product defects that might endanger the consumer or put the maker/seller at risk of legal action
Term
External review
Definition
customer surveys, supplier reviews, shareholder opinions, community reaction, audits 
Term
internal review
Definition
a determination as to whether or not the process in place is still in alignment with the strategic plan
Term
Disaster recovery
Definition
 is the area of security planning that deals with protecting an organization from the effects of significant negative events
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