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 of persons to be informed that previously has not yet developed a product receives the name: Test of concept.
Power in Distribution Channels
The power that is based on existing standards, as well as agreements and contracts established between the members of the distribution channel, is legitimate power.
Distinctive Skills
Distinctive skills of key personnel of the company are considered as a whole as the skills.
Job Motivation
Designed by the index, Hackman and Oldham measure the motivational potential of a job.
Fixed Costs
Can be fixed costs: None of the other (No, Experience, Activity).
Average Period of Sale
To calculate the average period of sale, the data on annual sales volume is rated at cost price.
Actual Value Rate
Actual value rate is the net present value obtained with the investment for every dollar committed.
Soft Elements of Address
Soft elements of address are the skills.
Group Surveys
What are the specific nature calls “group surveys”? Those performed on behalf of several companies.
Product Development
In what stage of planning and product development is the concept test performed? Feasibility analysis.
Human Resource Management
Among the stages of human resource management are anticipating the needs of the future.
Organizational Structure
Division into three levels of task in the organizational address pyramid is part of the role of the organization.
Decision-Making
Routine decisions tend to be decentralized.
Simulation Models
The models that are not simulation are called analytical.
Inventory Management
The system based on receipt of small and frequent orders as close to the time of use as possible is called just-in-time inventory.
Market Segmentation
From an operational point of view, segmentation is explaining the behavior of certain variables in the consumer based on a series of segmentation criteria for acting as explanatory variables.
Sales Force Allocation
The following is not one of the disadvantages of the allocation of sales force by product: The low cost of displacement. (The high cost of travel and possible competition among sellers of the company are disadvantages).
Market Penetration
In a narrow sense, to increase the company’s participation in the current market with the current product is called market penetration.
Standard Time
The standard time is calculated by adding additional time to the standard time.
Physical Distribution
The model used in Hitchcock is physical distribution.
Working Methods
The term used in Therblig is the study of working methods.
Diversification
When new activities are related to existing ones, it is said that diversification is homogeneous.
Post-Production Orientation
Post-production guidance has a sales orientation.
Measuring Work
The quantitative method of measuring work that is more used in practice is the study of time.
Cost of Equity
One of the main reasons for the cost of equity being superior to the capital of non-equity is the greatest risk of depreciation.
Demand Fluctuations
Some of the alternatives to cope with the demand oscillations that affect the offer are inventories.
Neoclassical Theory
What is the theory that believes that the company is a mechanism that is between market factors (either initially) and the market of products (final goods), and its action is to combine forces to shape products? The neoclassical theory.