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Hsc Syllabus Topic One Operations

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Submitted By Bryce141414
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Topic One: Operations Students Learn to:
Examine contemporary business issues to: * Discuss the balance between cost and quality in operations strategy
Cost and quality are two performance objectives of a business. Cost and quality generally oppose each other as performance objectives as for a business to achieve quality this will generally cost money and then increase costs. * Examine the impact of globalisation on operations strategy * Identify the breadth of government policies that affect operations management * Explain why corporate social responsibility is a key concern in operations management
Investigate aspects of business using hypothetical situations and actual business case studies to: * Describe the features of operations management for businesses in a tertiary industry * Assess the relationship between operations and the other key business function in two actual businesses * Explain how operations strategy van help a business sustain its competitive advantage * Recommend possible operations strategies for one hypothetical business

Students Learn About
Role of operations management * Strategic role of operations management – cost leadership, good/service differentiation
A businesses competitive advantage refers to the features implemented by a business that create an advantage over its competitors.

A business can make long-term (strategic), medium term (), or short term () decisions.

Efficiency refers to achieving maximum output with the minimum level of inputs. It involves achieving an objective without wasting resources and while keeping costs as low as possible.
Profit margin is the difference between the sale price of a product and the cost to make the good or supply the service.

Cost leadership- A cost leadership strategy is where a business aims to be the lowest cos manufacturer within

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