Business Operations and Management: Key Concepts
Business Operations and Management: Key Concepts
Commercial Experimentation
In connection with commercial experimentation, variability derived from uncontrollable factors is reflected by the calculation of the residual dispersion.
Job Analysis
Job analysis is the systematic and detailed study of a job that identifies and examines the elements and tasks that comprise it, and the characteristics and requirements to be met by the person assigned to it.
Market Research
The survey to be done to several groups
Read MoreDistributive Negotiation: Mastering the Bargaining Zone
Distributive Negotiation Bargaining Zone refers to the overlap between the buyer’s and seller’s reservation points, also known as the Zone of Possible Agreement (ZOPA). Successful negotiation occurs within this zone.
Reservation Point vs. BATNA
Your reservation point is the walk-away point in a negotiation. BATNA (Best Alternative to a Negotiated Agreement) is what you will do if you cannot reach an agreement. A strong BATNA improves your negotiation position.
Opening Offer
The initial offer sets the
Read MoreQuality Management and FMEA for Enhanced Customer Satisfaction
Understanding Customer Satisfaction and Quality Management
Satisfying customer requirements is paramount, both now and in the future. This can be achieved through various levels of quality management:
- Product Inspection: Focuses on the manufactured product, separating good parts from bad through sampling.
- Process Control: Focuses on the manufacturing process itself. Product quality is directly dependent on process quality. Statistical Process Control (SPC), self-inspection, and poka-yoke are used to
Economic Activity: Sectors, Key Concepts, and Systems
Economic Activity
Economic activity refers to any process that, through the use of resources, creates products and services to cover needs. It includes three phases: production, distribution, and consumption.
Economic Sectors
- Primary Sector: Activities dedicated to obtaining food and raw materials from the natural environment. Examples include agriculture, livestock, fisheries, and forestry.
- Secondary Sector: Economic activities that transform raw materials into elaborated products. Examples include
System Types, Organizations, and Crisis Management
Types of Systems
1. Inputs
Inputs are the resources that the external environment provides. They include materials (people, capital, information, techniques, etc.) and the demands of organizational claimant groups (employees, journalists, owners or shareholders, and the community).
Inputs can be:
- Predictable: Quantifiable according to the needs of the organization, such as capital.
- Unpredictable: Subjective aspects that cannot be quantified, such as the cultural aspects (feelings, prejudices) that individuals
Strategic Planning: Levels, Schools, and Best Practices
Strategic planning is the process used to formulate and execute the strategies of an organization in order to insert it, according to its mission, in the context in which it finds itself.
An effective strategic planning process should not be formal and bureaucratic.
Planning Levels
Planning has three levels: strategic, tactical, and operational.
Strategic Planning
It is the broadest and covers the entire organization. Its characteristics are:
- Long-term projection
- Includes the organization as a whole, all