1.1 Introduction Flashcards
0
Q
Business functions
A
- Production / operation
- Marketing
- Finance
- Human resources
- Research and development
1
Q
Factors affecting productivity [5]
A
- Investment in labour - training
- Investment in capital/technology - computerised
- Attitude and labour flexibility
- Investment in research
- External factors - governments, trade unions
2
Q
Characteristics of excellent companies [5]
A
- Unique Selling Point (USP)
- Work closely with customers
- Keeping up with technology
- Relatively low price compared to competition
- Wide range of goods
3
Q
Prestige
A
- To build an image for excellence
* Gain favourable impression
4
Q
Factors of production
A
- Land - site and natural resources
- Labour
- Capital - money and technology
- Entrepreneurship
