My business part 2 Research Paper Example | Topics and Well Written Essays - 1250 words

My business part 2 - Research Paper Example A business should also plan its overall capacity in order to avoid instances of over or under production. This will ensure that it produces an amount that exactly satisfies the customers’ demands. Statistics employed to measure the quality characteristic in the business Quality in the business is majorly measured by the performance of the business (Venkatraman & Ramanujam, 805). A business is said to have a high quality characteristic when it attracts a large number of customers as compared to its competitors. This is because when the business attracts a large number of customers, then it will imply that the print business is offering quality services. On the other hand, quality of operations will also be determined by the usage of resources and materials. When materials are not economically managed, then the quality characteristic of the business will be assessed as poor (Venkatraman & Ramanujam, 810). Materials need to be handled carefully in order to reduce the costs of ope ration while maximizing the benefits. Effective communication also determines the quality characteristic of the business. This is because when the employees and the management communicate effectively, then it will imply that the flow of work in my print business will be effective too (Naidu, Babu & Rajendra, 30). ... In my print business, one of the key concepts that I will need to address in order to ensure effective capacity is the human factor. Employees need to be well trained, highly skilled and well experienced in order to ensure that they perform their jobs effectively to meet the potential output. Operational factors are also concepts that will determine the effective capacity of the firm (Stevenson, 19). This will involve factors such as inventory management, scheduling of activities, and meeting purchasing requirements effectively. These are factors that will ensure that the firm does not hold excess stocks in the business. This is because; excess stocks result from poor capacity planning and normally lead to excess capacity (Stevenson, 20). Facility factors such as location factors also affect the business considerably. Therefore, when choosing the location of my print business i will have to consider the transport costs. If the area is far from the market, then it will imply that the transport costs will be very high and delivery might delay at times thus, affecting the capacity planning of the business. In addition, I will also consider the labour supply in the area, and effective supply of resources such as water and electricity. Aggregate plan to maintain a competitive advantage To maintain a competitive advantage in the market, the business will have to market its products and services effectively in order to increase awareness and attract more customers. Secondly, the plan will involve proper determination of the prices to be charged. This is because; the business will only be highly competitive when its prices are more competitive compared to the market prices (Naidu,