This week’s topics
Operations Performance Objectives
- The five core objectives (quality, speed, dependability, flexibility, cost)
- Trade-off theory versus sandcone model
- Operational polar diagrams
- Strategic KPI alignment
- Five Performance Indicators Model
- How to develop effective Key Performance Indicators
What you will be able to do
- 2.2 Assess the impact of the tension between cost minimisation and quality maximisation.
- 2.3 Evaluate the significance of the five performance objectives that underpin operations management to organisation.
Activity
Start with this week’s 2 videos, then: Seminar, guided reading and a short written task: assess the impact of the tension between cost minimisation and quality maximisation.
Study materials
Videos
- Five Performance Indicators Model · YouTube · Galton College · 22 min · for registered students
- How to develop effective Key Performance Indicators · YouTube · The Finance Storyteller · 5 min · for registered students
- What is KPI? (With Examples) | From A Business Professor · YouTube · Business School 101 · 10 min · for registered students
- How to Develop Key Performance Indicators · YouTube · OnStrategy I Virtual Strategist · 6 min · for registered students
Further resources
- Operations Management (Fanshawe College, 2024) – whole book · Reading · Other, textbook; 767 pages · for registered students
- Introduction to Operations Management (Seneca Polytechnic) – whole book · Reading · Other, textbook; 125 pages · for registered students
- Operations Management (Fanshawe), ch. 6: Managing Quality · Reading · Other, textbook chapter; PDF pp. 229–284 · for registered students
Materials marked “for registered students” open in the student portal, which is set up as soon as you receive final acceptance.
