Buss3 operational strategies
Buss3 Operational Strategies Quiz
Test your knowledge on the operational strategies involved in business with our Buss3 quiz! This engaging quiz covers important concepts, including operational objectives, influences, and lean production methods.
- Multiple choice and checkbox questions
- Focus on practical business strategies
- Ideal for students and professionals alike
Which 3 of the following are typical operational objectives
Quality standards
Cost minimisation
Hitting a market share figure
Hitting a ROCE target
Increasing capacity and volume
A figure relating to shareholder returns
Which of the following are internal influences on operational objectives
Finance available
Competitors actions
The type of product the business sell
Market conditions
Which of the following is not an external influence on operational objectives
Market conditions
Technological change
Overall corporate objectives
Customer expectations
Which of the following is a potential disadvantage of operational strategies
Reduction in human error
Can run 24/7
High initial capital outlay
Higher levels of consistency
Lower levels of flexability
What does FIT MATE stand for?
F-orecast I-noformation T-ime M-achine A-lgorithm TE-chinque
FI-nancial T-rading MA-nagerial TE-chnological
FI-rst T-ime MA-nagerial TE-chniques
What is the definition for production economies of scale
A reduction in costs due to increased production levels
An increase in costs due to a increase in production
A reduction in costs due to decreased production
A increase in costs due to decreased production
Which of the following are potential advantages for innovation
Creates a USP and leads to a competitive advantage
No guarantee of success
Enables the firm to charge higher prices
Can be time and financially consuming
Improves efficiency
Doesn't enable the firm to charge higher prices
What are the three main types of lean production
Just in time, just in case and time-based management
Ansoff's, Kaizen and time based management
Kaizen, Just in time and time-based management
Ansoff's, time-based management and just in time
What the circles in a critical path called
Nodes
Gnomes
Activities
Currently needing done
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