HSC Operations: Role/Influences

Involves the use of outside specialists who conduct aspects of the business’ functions, offshore (international) or onshore (domestic).

• Offshoring

• Insourcing

• Outsourcing

• Globalisation

The expenses associates with meeting legal regulations.

• fees

• court charges

• paperwork expenses

• compliance costs

Subsidies of local products or tariffs on imported products are examples of which influence on operations?

• Legal regulations

• Corporate Social Responsibility

• Government policies

• Globalisation

Strategic means

• Affecting all key business functions over the long-term.

• Affecting all key business functions over the short-term.

• Tactical strategies

• Affecting one key business function over the medium-term.

The cost advantages that can be created as a result of an increase in size of business operations.

• Savings of size

• Economies of scale

• Volume bargains

• Economies of savings

Goods and services that are mass-produced, uniform in quality and meet a predetermined level of quality

• Customisation

• Standardisation

• Economisation

• Production

Intangible outputs of the production process consisting of an activity or task for the customer

• Services

• Goods

• Intermediate goods

• Perishable goods

A business strategy whereby the business seeks to be competitive on the basis of characteristics of its good or service that set it apart from its competitors.

• Differentiation

• Cost-leadership

A business strategy to compete in the market by aiming to have the lowest costs or to be the most price-competitive in the market while still being profitable.

• Differentiation

• Cost-leadership

The processes through which resources (inputs) are transformed into goods and services (outputs).

• Operations

• Marketing

• Finance

• Human Resources