Have responsibility for the general well-being of society beyond short term economic self interest

Companies which compete directly on price, cost will clearly be their major operations objective

5 types of advantage to the business (Economic bottom line)

Ensuring that the overall productivity of accumulated human and physical capital resulting from development actions more than compensates for the direct or indirect loss or degradation of the environment

The main benefit to the operations (external) customers of speedy delivery of services or products is that the faster they can have the service or products

4 types of requirements (flexibility objectives)

Flexibility inside the operation (3)

The voluntary actions that business can take over and above compliance with minimum legal requirements to address both its own competitive interest and the interests of wider society

One of the beneficial external effects of flexibility is the increased ability of operations to do different things for different customers

Consistent conformance to customers expectations in other words 'doing things right' but the things which the operation needs to do right will vary according to the kind of operation

The operations ability to change it's level of output or activity to produce different quantities or volume of services and products over time

Inside the operation, internal customers will judge each other's performance partly by how reliable the other processes are in delivering material or information on time

The operations ability to create a wide range or mix of services and products

One that creates an acceptable profit for it's owners, but minimize the damage to the environment and enhances the existence of the people with whom it has contact

The operations ability to change the timing of the delivery of it's services or products

Judging operations in terms of their agility has become popular. A combination of all the five performance objectives but partially flexibility and speed

Made up of organizations, groups and individuals

This gives the organization it's license to operate in society

Quality inside the operation (2)

The elapsed time between customers requesting services or products and receiving them

The operations ability to introduce new or modified services and products

The growing economic interdependence countries worldwide through increasing volume and variety of cross border transactions in goods and services

Dependability inside the operation (3)

It balances economic, environmental and societal interest

Doing things in time for customers to receive their services or products exactly when they are needed or at least when they were promised

5 operations performance objectives

Meeting the needs of the present without compromising the ability of future generations to meet their own needs

Responsibility for the impact they have on society and balance the external societal consequences of their actions

Speed inside the operation (2)

Triple bottom line also known as

Is listening and responding to the needs of a company's stakeholders

An organizations top management represent the interest of the owners and therefore are direct custodians of the organization basic purpose

Being able to change the operation in some way

One common term that tries to capture the idea of a broader approach to assessing an organization's performance

Clearly a major influence on customer satisfaction or dissatisfaction

Essentially about how business takes account of it's economic, social and environmental impacts in the way it operates