1
Q
Lean Manufacturing
A
- Value
- Value stream
- Flow
- Pull
- Perfection
2
Q
7 Forms of Wate
A
- Overproduction
- Inventory
- Motion
- Defects
- Over-processing
- Waiting
- Transporting
3
Q
Market Positioning
A
- Cost Leadership
- Differentiation
- Focus
4
Q
Triple bottom line framework
A
- Profit
- People
- Planet
5
Q
Cost leadership
A
Outperform competitors by producing products or services at the lowest sustainable cost.
6
Q
Rationale behind ISO 9001 certification
A
- Considered by some buyers
- “plan-do-check-act” methodology.
7
Q
Value Chain Analysis
A
- Inbound logistics
- Operations
- Outbound logitistics
- Processes should not be designed and analysed in isolation
8
Q
Quality vs grade
A
- Quality - conformance to the requirements.
- Grade - describes the intended features or technical specification of a product.
9
Q
Kaizen costing
A
Method of budgeting based on continual improvement
10
Q
Kanban
A
System that manages internal stock
11
Q
Catchball
A
Shared ownership and leadership throughout a team
12
Q
Differentiation strategy
A
Outperform competitors by providing a different product
13
Q
Focus strategy
A
Outperform competitors by targeting one segment of the markets
14
Q
Perfect competition (6)
A
- Large number of small buyers and small suppliers
- Perfect information
- Homogenous products
- No barriers to entry
- No transaction costs
- No switching costs
15
Q
Monopoly
A
- Market with one supplier
- Need to be regulated
16
Q
Oligopoly
A
- Dominated by a small number of suppliers
- Risk of collusion
17
Q
Monopolistic competition
A
- Large number of producers but;
- Products are not seen as homogenous
18
Q
Monopsony
A
- Only one buyer
- Buying power will reduce prices
ICAS TC BA
flashcards
Decks in class (16)
# Cards
-
Module 1 The Entrepreneur8
-
Module 2 Innovation22
-
Module 3 Industry and Markets13
-
Module 4 Operations and Distribution18
-
Module 5 Business Models14
-
Module 6 Pricing26
-
Module 7 Branding6
-
Module 8 Promotion11
-
Module 9 Intellectual Property and the Law20
-
Module 10 Aspects of Law16
-
Module 11 Entering into Contracts28
-
Module 12 Employing People27
-
Module 13 Strategy and Analysis5
-
Module 14 Cash Management and Forecasts3
-
Module 15 Business Plans3
-
Module 16 Business Structure43
