business jargon arising from the management tool known as benchmarking also when the production and management process are uniform.
Term
Business Planning
Definition
fairly long history andsimple statement of objectives, including indications of methods to be used to achieve them—or it may be a very extensive planning process in which every element of the corporation routinely takes part: a formal planning cycle.
Term
Five Competitive Forces that Shape Strategy
Definition
threat of substitutes,bargaining power of the buyer,bargaining power of the supplier,Threats of new entrants,competitive rivalry
Term
Malcom Baldrige Award
Definition
highest quality award a US based industry can receive
Term
National Institute of Standards and Technology
Definition
agency within the US Department of Commerce, has the honors of presenting the Malcom Balridge National Award on an annual basis
Term
Operations Management
Definition
multi-disciplinary field that focuses on managing all aspects of an organization's operations.
Term
Process Design
Definition
describes how the product will be made. The process design decision has two major components: a technical (or engineering) component and a scale economy (or business) component.
Term
Process mapping
Definition
the process of taking a strategic plan and turning it into process objectives by identifying key steps that must be taken to move from the beginning of the process to the end of the process in the most effective and efficient manner.
Term
Product Design
Definition
critical task because it helps to determine the characteristics and features of the product, as well as how the product functions.
Term
Productivity
Definition
is the result or the sum of all effort that it takes to deliver a product or service. Productivity is frequently referred to as output and, to some degree, can be measured.
Term
Quality management
Definition
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
SWOT
Definition
strengths, weaknesses, opportunities and threats
Term
Strategic planning
Definition
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
Strategic sourcing
Definition
key methods that purchasing departments are using to lower costs and improve
Term
What are the three types of coordination
Definition
pooled coupling, sequential coupling and reciprocal coupling
Term
change agent
Definition
person who deals with and addresses the objectively real resistance of change recipients
Term
operations process
Definition
Input, transformation, output, feedback
Term
purchasing process
Definition
requisition, soliciting bids, purchase order, shipping advice, invoice, and payment
Term
recovery
Definition
final stage of a disaster recovery plan
Term
three overarching factors
Definition
complexity, agility, and ethics/social responsibility
