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Flashcards in Final Material Deck (124)
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1

how effectively an organization meets the wants and needs of customers relative to others that offer similar goods or services

competitiveness

2

The reason for an organization's existence; it answers the question: "What business are we in?"

Mission statement

3

What serves as the basis for organizational goals?

Mission statement

4

special attributes or abilities that give an organization a competitive edge?

core competencies

5

What does a swot analysis stand for? What are external/internal factors?

S: strengths (internal)
W: weaknesses (internal)
O: opportunities (external)
T: threats (external)

6

What are key external factors?

- economic conditions
- political conditions
- legal environment
- technology
- competition
- markets

7

What are key internal factors?

- Human resources
- facilities and equipment
- financial resources
- customers
-products and services
- technology
- suppliers

8

Strategies that focus on the reduction of time needed to accomplish tasks

time-based strategies

9

characteristics that customers perceive as minimum standards of acceptability for a product or service to be considered as a potential for purchase

order qualifiers

10

characteristics of an organization's goods or services that cause it to be perceived as better than the competition

order winners

11

customized goods/services that are able to handle a wide variety of work but has a slow, high cost per volume because of the complex planning/scheduling

job shop

12

semi-standardized goods/services that have flexibility and have a moderate cost per unit/schedule complexity

batch

13

highly standardized with high efficiency/volume, costly to change, low variety

continuous

14

layout that uses standardize processing operations to achieve smooth, rapid, high volume flow; used for continuous processing

product layout

15

layouts that can handle varied processing requirements, used for job shop and batch processing

process layouts

16

layout in which the product or project remains stationary and workers, materials, and equipment are moved as needed (hospitals, supermarket, shipyards)

fixed postion layouts

17

emphasizes a systematic, logical approach to job design, refinement of Frederick Winslow Taylor's scientific management concepts

Efficiency School

18

emphasizes satisfaction of needs and wants of employees

behavioral school

19

giving a worker a larger portion of the total task by horiza

job enlargemen

20

workers periodically exchange jobs

job rotation

21

increasing responsibility for planning and coordination task, by vertical loading

job enrichment

22

compensation based on time an employee has worked during the pay period

time-based system

23

compensation based on amount of output an employee produced during the pay period

output-based (incentive) system

24

worker's pay is a direct linear function of his or her output

straight piecework

25

workers is guaranteed a base rate, tied tot an output standard that serves as a minimum

base rate + bonus

26

a pay system used by organizations to reward workers who undergo training that increases their skills

knowledge-based pay

27

Disadvantages of locating globally (5)

- transportation costs
- security costs
- unskilled labor
- import restrictions
- criticism for locating out of country

28

Potential risks when locating globally (6)

- political instability/unrest
- terrorism
- economic instability
- legal regulation
- ethical considerations
-cultural differences

29

Benefits for locating globally

- markets
- cost savings
- financial

30

a statement about the future value of a variable of interest

forecast