Strategic Business Analysis and Operations Management

The process of using resources like materials, equipment, labor, and money to transform inputs into valuable outputs for consumers.

A system that strives to efficiently utilize resources to create products and services.

Continuous search for new products and services to satisfy customers.

Balancing cost-efficiency with consumer satisfaction by optimizing production processes.

Using resources in the most effective way, especially labor, to increase productivity.

Strategic business analysis is a comprehensive evaluation of all aspects of a company's operations. It leverages principles from economics, human resource management, production and operations management, marketing management, and financial management to inform decision-making.

Economic analysis helps managers compare different needs, goods, resources, and their combinations in the context of local and global economic activity. It's about understanding the bigger economic picture impacting business decisions.

Human resource management starts with job analysis to create a plan for managing people effectively. This focuses on tasks, skills, and requirements for each job within a company.

Production and operations management focuses on achieving the 'right quality' based on customer needs, not just the highest quality. It's about finding the balance between quality and cost.

Production and operations management aims to produce the right quantity of goods to meet demand, avoiding excess inventory or shortages. It balances production with market needs.

Production and operations management emphasizes timely production, ensuring goods are available when needed. This maximizes resource utilization and customer satisfaction.

Production and operations management aims to manufacture products at pre-established costs, minimizing variations in expenses. This keeps production efficient and predictable.

A long-term decision about a business's geographic location, taking into account factors that influence success.

Decisions about the arrangement and efficiency of a business's physical space, including equipment layout and flow of work.

The process of converting raw materials into finished products, involving workflow analysis and selecting the right workstations.

A production process that involves a continuous flow of work, often used for mass production.

A production process that involves producing goods in batches, often used for products with varying demands.

A production process that involves producing one item at a time, often used for highly customized products or small batches.

The process of managing the flow of goods, information, and resources from suppliers to customers, aiming for efficiency and effectiveness.

The process of managing the storage, retrieval, and distribution of goods, ensuring security and efficiency throughout the chain.

The process of designing, developing, and launching new products, a crucial aspect of a business's survival and growth.

The ability to efficiently combine resources (land, labor, capital, and management) to produce goods and services.

A critical decision in business, as product uniqueness determines market appeal and ultimately, success.

A dynamic process that responds to changes in consumer preferences, economic situation, and other external factors.

The combination of raw materials, labor, and human capital to create tangible products.

The process of creating services, which are intangible and don't involve physical products.