Find
Search for over 200,000 study notes and past assignments!
Swap
Download study resources by swapping your own or buying Exchange Credits.
Study
Study from your library anywhere, anytime.
Business Studies Topic One Notes
Business Studies
33 Pages • Complete Study Notes • Year: Pre-2021
1.1 Strategic role of operations management- cost leadership, good/service differentiation Cost leadership: - aiming to have the lowest costs or to be the most price competitive in the market. - Operations managers must find ways to minimise costs to keep business profitable. - Low costs can be achieved through economies of scale, access to cheaper raw materials or inventing an innovative method of production - Economies of scale: cost advantages that can be created because of an increase in scale of business operations. Cost savings = purchasing lower cost per unit of input and efficiencies created from the improved use of technology and machinery. Product differentiation - distinguishing products (goods or services) in some way from their competitors. • Differentiated product can command a higher premium price in the market as customers are attracted to the product and build up brand loyalty. • Sources of differentiation in goods: - varying the actual product features - varying product quality - varying any augmented features (add-ons or additional benefits associated with particular goods — electronic goods and motor vehicles)
This document is 25 Exchange Credits
More about this document:
|
|
This document has been hand checkedEvery document on Thinkswap has been carefully hand checked to make sure it's correctly described and categorised. No more browsing through piles of irrelevant study resources. |
|
|
This is a Complete Set of Study NotesComplete Study Notes typically cover at least half a semester’s content or several topics in greater depth. They are typically greater than 20 pages in length and go into more detail when covering topics. |
|
|
What are Exchange Credits?Exchange Credits represent the worth of each document on Thinkswap. In exchange for uploading documents you will receive Exchange Credits. These credits can then be used to download other documents for free. |
|
|
Satisfaction GuaranteeWe want you to be satisfied with your learning, that’s why all documents on Thinkswap are covered by our Satisfaction Guarantee. If a document is not of an acceptable quality or the document was incorrectly described or categorised, we will provide a full refund of Exchange Credits so that you can get another document. For more information please read Thinkswap's Satisfaction Guarantee. |
Studying with Academic Integrity
Studying from past student work is an amazing way to learn and research, however you must always act with academic integrity.
This document is the prior work of another student. Thinkswap has partnered with Turnitin to ensure students cannot copy directly from our resources. Understand how to responsibly use this work by visiting ‘Using Thinkswap resources correctly’.
Browse HSC Subjects
