ARABIT, XAIRA ROZ C.

BSA-3A

Define each in your own words:

1. OPERATIONS
Operations, in terms of business, is the action made
by people that may affect several aspects in a
business such as the production, management, flow
of service and many more. It is the core function of a
company in order to operate the business well.
2. SUPPLY
is a resource which provides something that is
needed or wanted in a business. This is usually the
goods offered by the supplier to its customer which
is then sold at a specific price at a given period of
time.
3. STRATEGY
refers to an action or decision made to achieve
certain objectives. A business flows in accordance
with their strategy. It serves as their guide in
undertaking actions and determining various
business factors.
4. COMPETITORS
is basically the other business which is in line with
your work. They offer the same goods and services
like yours, have the same target market as yours but
differs in strategy and operations depending on the
management.
5. ESTABLISHING DIRECTIONS
From the term itself, it is about creating your own
particular visions for future references. It is about
setting direction in the long run of the business.
 ARABIT, XAIRA ROZ C. BSA-3A

Define each in your own words:

6. INCREASE SATISFACTION
Increasing satisfaction is primarily about the
customers. It is about improving goods or service in
order to increase customer satisfaction. Without this
idea, a business will more likely lessen their
customers.
7. CONTROLLING
is about making sure that the function of
management occurs everything according to the
plan adopted, instructions issued, and principles
established.
8. GOAL SETTING
can be defined as a process of setting both short
and long-term goals considering the ideal future of
a business. It is often made to motivate people
involved in the business or to encourage them to do
better.
9. CORPORATE
means that it is in relation with a large company, or
to a particular large company. To be specific, a
corporate is shared by a whole group and not just of
a single member.
10. STRATEGIC PLANNING
is where an organization usually identify their goals
and objectives. From the term "strategy" and "plan", it
creates a specific business strategy, implements
them, evaluate the possible outcomes and
executing the plan for the purpose of achieving a
specific business goal.
 ARABIT, XAIRA ROZ C. BSA-3A

Define each in your own words:

11. CAPACITY
the total amount or number of things or people that
something can hold. In relation to business, it refers
to the amount of business they can do over a set
period of time.
12. PRODUCTION
is the process of making or manufacturing goods
and products from raw materials or components.
Simply put, production creates an output from its
input which has value to an end-user or customer.
13. SUPPLY CHAIN
is like the cycle from the process of producing up
until the delivery of a product or service. It is made
up of complex network of organizations and
activities, such as raw materials suppliers,
manufacturers, distributors, retailers and the
customer.
14. MISSION STATEMENT
is a statement which includes why an organization
exists, its overall goals, what kind of goods or service
that it provides, its primary customer or market, and
its geographical region of operation.
15. CORE VALUES
are often defined as the belief of a person or an
organization. These are principles and priorities
which guides an organization's actions about its
mission and vision.
 ARABIT, XAIRA ROZ C. BSA-3A

Define each in your own words:

16. BUSINESS STRATEGY
is basically referred to as the organizational master
plan. This plan is what the management of a
company develops and implements to achieve their
goals and objectives.
17. CAPACITY MANAGEMENT
refers to the act of ensuring that a business
infrastructure has adequate resources to maximize
its potential activities and production output at all
times, under all conditions.
18. RISK
basically cognifies that something bad or
dangerous will happen. In business, assessing
possible risk will help them eliminate casual losses
and helps in implementing plans concerning future
uncertainties.
19. MATCH STRATEGY
is the identification and accumulation of
investments with payouts that will coincide with an
individual or firm's liabilities. This process allows an
investor planning for retirement to meet specific
financial targets with near certainty.
20. PRODUCT CAPACITY
is the maximum amount or number of product
output that a company is able to produce using its
available resources over a specified amount of time.