The Importance of Operational Performance in Business Success

The video discusses the operational functions of a business, focusing on how resources and capital are combined to produce and deliver products or services efficiently. It highlights key operational objectives such as cost management, flexibility, quality assurance, and dependability. The importance of meeting customer needs through customization and rapid response to market changes is emphasized. Additionally, the video covers ethical responsibilities, particularly environmental sustainability, as a core operational principle.

What is the primary goal of operational targets and objectives in a business?

• To reduce the number of products offered

• To expand the physical size of the business

• To ensure efficient resource management and achieve corporate goals

• To increase the number of employees

How can businesses reduce costs per unit?

• By increasing the number of products

• By raising standards and productivity

• By reducing the workforce

• By expanding the business premises

Why is flexibility important in business operations?

• To decrease the quality of products

• To increase the number of products

• To meet the growing convenience needs of customers

• To reduce the number of employees

What is a key indicator of a product's quality?

• The number of products sold

• The average level of customer satisfaction

• The cost of production

• The size of the business

What is the purpose of quality control measures in a business?

• To increase the number of employees

• To ensure a total level of quality management

• To expand the business premises

• To reduce the number of products

Why is speed of response important in business operations?

• To maintain efficiency in the supply chain

• To reduce the number of products

• To increase the number of employees

• To expand the business premises

What is a key ethical responsibility for businesses today?

• Increasing the number of employees

• Developing renewable energy production methods

• Reducing the number of products

• Expanding the business premises