Innovation and identification Entrepreneurship requires Innovative ideas come to of opportunities and risk an understanding of fruition through the taking processes to test the development of clear Leadership traits skilled viability and ethical nature of feasibility studies (see Unit – communication, social new ideas 6). awareness, skilled futures thinking, self-discipline, responsibility and to inspire and motivate. Business ethics is how Business decisions and businesses are expected to behaviours often involve conduct their affairs in the ethical considerations which context of the expectations may conflict with profit and requirements of society. considerations and It concerns the socially corporate culture accepted standards of right Businesses undertake audits attitudes and conduct to determine corporate concerning the way a social responsibility and business interacts with develop codes of conduct. other businesses, individuals, society, the environment, and governments. UNIT 2: OPERATIONS MANAGEMENT (20 The focus of this unit is Operations Management (OM) which involves businesses efficiently and effectively converting inputs (resources) into quality products or services desired by customers. Business knowledge Business reasoning Business decision-marking Key concepts in OM Inputs, process and outputs Implications for effective Competitive advantage, e.g. OM decision-making and cost leadership and product business planning. differentiation Production - efficiency Role of operations managers Operational decisions Implications for effective – purchasing, dispatching, OM decision-making and inventory control, planning business planning. and scheduling, maintenance and quality control involving planning, developing, and the use of established and leading edge technology Strategic decisions – planning, developing and controlling the activities required to create a product and supply a
Innovation and identification of opportunities and risk taking Leadership traits – skilled communication, social awareness, skilled futures thinking, self-discipline, responsibility and to inspire and motivate. Entrepreneurship requires an understanding of processes to test the viability and ethical nature of new ideas Innovative ideas come to fruition through the development of clear feasibility studies (see Unit 6). Business ethics is how businesses are expected to conduct their affairs in the context of the expectations and requirements of society. It concerns the socially accepted standards of right attitudes and conduct concerning the way a business interacts with other businesses, individuals, society, the environment, and governments. Business decisions and behaviours often involve ethical considerations which may conflict with profit considerations and corporate culture Businesses undertake audits to determine corporate social responsibility and develop codes of conduct. UNIT 2: OPERATIONS MANAGEMENT (20 The focus of this unit is Operations Management (OM) which involves businesses efficiently and effectively converting inputs (resources) into quality products or services desired by customers. Business knowledge Business reasoning Business decision-marking Key concepts in OM Inputs, process and outputs Competitive advantage, e.g. cost leadership and product differentiation Production - efficiency Implications for effective OM decision-making and business planning. Role of operations managers Operational decisions – purchasing, dispatching, inventory control, planning and scheduling, maintenance and quality control involving planning, developing, and the use of established and leading edge technology Strategic decisions – planning, developing and controlling the activities required to create a product and supply a Implications for effective OM decision-making and business planning.
BST315116_course_v1a.docx