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Titel
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Topic 5: Operation management
Learning outcome:
• Define operations and describe their relationship with other business functions
• Explain the role of operations management
• Describe and explain the features of different types of production.
• Recommend the most appropriate method of production for a given situation.
• Explain reasons for a particular production location
• Discuss outsourcing as a method of restructuring production, both at a national and an international level
• Discuss offshoring as a method of restructuring production, both at a national and an international level
• Discuss insourcing as a method of restructuring production, both at a national and an international level
• Discuss reshoring as a method of restructuring production, both at a national and an international level
• Distinguish between total contribution versus contribution per unit
• Draw a break-even chart and calculate the Break-even quantity/point, Profit or loss and Margin of safety
• Calculate target profit output, Target profit and Target price
• Analyse the effects of changes in price or cost on the break-even quantity, profit, and margin of safety, using graphical and quantitative methods
• Examine the benefits and limitations of break-even analysis as a decision-making tool
Learning outcome (HL only)
• Outline the following features of lean production (less waste and greater efficiency)
• Distinguish between Kaizen and JIT
• Explain the features of cradle-to-cradle design and manufacturing.
• Outline the features of quality control and quality assurance.
• Explain the following methods of managing quality (quality circle, benchmarking and TQM)
• Explain the supply chain process, both locally and globally.
• Compare and contrast JIT and JIC of stock control.
• Interpret a stock level control chart.
• Calculate and interpret the following: Capacity utilization rate, Defect rate, Labour productivity, capital productivity, productivity rate, and operating leverage
• Cost to buy (CTB) and Cost to make (CTM)
• Distinguish between crisis management and contingency planning
• Explain the factors that ensure effective crisis management: Transparency, Communication, Speed, Control
• Comment on the impact of contingency planning for a given situation or organization: Cost, Time, Risks, Safety
• Discuss the importance of research and development for a business
• Explain the importance of developing goods and services that meet the unmet needs of customers
• Explain intellectual property protection, patents, copyrights and trademarks.
• Distinguish between different types of innovation.
• Define key terms related to information systems management (database, data mining and data analysis)
• Examine how companies use data mining and data analytics to inform decision-making, create customer loyalty programmes, and digital taylorisme.
• Define cybercrime and cybersecurity
• Analyse some of the critical infrastructures that are part of advanced computer technologies.
• Distinguish between big data, virtual reality, the internet of things and artificial intelligence
• Evaluate the benefits, risks and ethical implications of advanced computer technologies and technological innovation in business decision-making and stakeholders
TOK questions:
• Can quality be measured objectively?
• What ways of deciding where to locate their production to business leaders use?
• Can business leaders always anticipate the impacts of decisions to relocate?
• Is it possible to draw an exhaustive supply chain diagram?
• Can a business plan for a crises?
• Can the hypothetical scenarios of contingency planning be the same as a real crisis?
• How can we determine truth in Business Management?
• Discuss the advantages and drawbacks of artificial intelligence.
• To what extent might the growing use of data to manage and monitor employees contravene data privacy laws?
Concept- based learning and BM toolkit
Unit 5.1: Ethics, Sustainability, Circular business models
Unit 5.2: Business plan
Unit 5.3: Change, Circular business models
Unit 5.4: Change, Ethics, Decision tree, STEEPLE, Force Filed Analysis (HL)
Unit 5.5: Contribution (HL)
Unit 5.6: Critical path analysis, Gantt Chart (HL)
Unit 5.7: Creativity (HL)
Unit 5.8: Creativity, Change (HL)
Unit 3.9: Ethics, Creativity, Sustainability (HL)
Textbook:
Business management. Course Edition. Oxford. Page 313-393
Exam focus: Paper 1, Paper 2 and Paper 3 (HL)
ALT:
• Teacher presentations
• Case studies (video, podcasts and written articles)
• Debating (Newsroom)
• Revision exercises using multiple choice questions and true/false statements
• Games
• Group presentations
• Formative evaluation and summative evaluation
LP:
Knowledgeable: utilize business concepts, theories and models with confidence to gain a more sophisticated understanding of current strategic decision-making even under conditions of uncertainty.
Thinkers: synthesize and evaluate business information and data to draw conclusions and develop balanced, well-supported arguments including recommending suitable courses of action.
Communicators: compose clear and concise analytical responses utilizing the terminology and tools of business, especially in the written assessments.
Principled: act with integrity, critically evaluating statistical data and evidence, understanding that the possession of knowledge carries with it an ethical responsibility.
open-minded: understand that decision-making involves the consideration of different causes, effects and perspectives and therefore the need to offer a range of solutions to business problems/issues.
Caring: appreciate that business management is a social science that has a human impact, influencing the well-being of individuals and societies.
balanced: understand the importance of considering different perspectives when making business decisions, including evaluating their impact on various stakeholders
reflective: acknowledge their own inherent bias when making decisions with an awareness of their own strengths and weaknesses; hence, seek out new further sources of information to ensure that solutions are as effective as they can be given prevailing strategic uncertainty.
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