BA 100 Midterm 2 - Terms & Concepts
Queue Ans✓✓✓ line or sequence of people or vehicles waiting their
turn to be attended to or to proceed
Cycle Time Ans✓✓✓ the time it takes to complete a task (such as
filling an order)
Throughput Ans✓✓✓ the units a system can produce and within a
specified period of time (determined by system cycle time; driven by
bottleneck task)
Capacity Ans✓✓✓ the max level of units that a system can produce
Utilization (definition) Ans✓✓✓ the percentage of capacity that is
actually being produced
Utilization (calculation) Ans✓✓✓ actual volume produced/capacity
Bottleneck Ans✓✓✓ the task in a system with the longest cycle time
The Strategic Planning Process Ans✓✓✓ 1. Define
mission/vision/values
2. Perform SWOT analysis
3. Develop forecasts
, 4. Analyze the Competition
5. Establish goals/objectives
6. Develop action plans
SWOT Analysis Ans✓✓✓ Strengths/Weaknesses/Opportunities/Threats
Strengths (SWOT) Ans✓✓✓ (INTERNAL) what do we do well -
tangible assets, intellectual property, brand, unique abilities, staff
Weaknesses (SWOT) Ans✓✓✓ (INTERNAL) what resources do we
lack - lack of internal experience or abilities; technology or regulations
Opportunities (SWOT) Ans✓✓✓ (EXTERNAL) underserved markets;
media strategies; new products; lack of competitors
Threats (SWOT) Ans✓✓✓ (EXTERNAL) disruptions by new tech;
new competitors from other markets; changing demographics;
regulations; new products
Multi-attribute decision model Ans✓✓✓ Assign each criteria with a
certain numerical value; largest weight = most important factor; highest
total weighted score = best
Data Ans✓✓✓ numbers, words, characters, images, sounds, etc.
Queue Ans✓✓✓ line or sequence of people or vehicles waiting their
turn to be attended to or to proceed
Cycle Time Ans✓✓✓ the time it takes to complete a task (such as
filling an order)
Throughput Ans✓✓✓ the units a system can produce and within a
specified period of time (determined by system cycle time; driven by
bottleneck task)
Capacity Ans✓✓✓ the max level of units that a system can produce
Utilization (definition) Ans✓✓✓ the percentage of capacity that is
actually being produced
Utilization (calculation) Ans✓✓✓ actual volume produced/capacity
Bottleneck Ans✓✓✓ the task in a system with the longest cycle time
The Strategic Planning Process Ans✓✓✓ 1. Define
mission/vision/values
2. Perform SWOT analysis
3. Develop forecasts
, 4. Analyze the Competition
5. Establish goals/objectives
6. Develop action plans
SWOT Analysis Ans✓✓✓ Strengths/Weaknesses/Opportunities/Threats
Strengths (SWOT) Ans✓✓✓ (INTERNAL) what do we do well -
tangible assets, intellectual property, brand, unique abilities, staff
Weaknesses (SWOT) Ans✓✓✓ (INTERNAL) what resources do we
lack - lack of internal experience or abilities; technology or regulations
Opportunities (SWOT) Ans✓✓✓ (EXTERNAL) underserved markets;
media strategies; new products; lack of competitors
Threats (SWOT) Ans✓✓✓ (EXTERNAL) disruptions by new tech;
new competitors from other markets; changing demographics;
regulations; new products
Multi-attribute decision model Ans✓✓✓ Assign each criteria with a
certain numerical value; largest weight = most important factor; highest
total weighted score = best
Data Ans✓✓✓ numbers, words, characters, images, sounds, etc.
