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Business GCSE > 3.3 Business Operations > Flashcards

3.3 Business Operations Flashcards

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1
Q

1 what is flow production

A

where a product moves continuously from one stage of production to another

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1
Q

1 what is production

A

the process of changing inputs like raw materials or labour into a finished good or service that can be sold

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2
Q

1 what are inputs

A

land
capital
enterprise
labour

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3
Q

1 what are the four functional areas

A

marketing and sales
finance
operations
human resources

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4
Q

1 what is job production

A

when a product is supplied to meet the exact requirement of the customers

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5
Q

1 advantages of job production

A

flexible
provide a personal service
best way when technology isn’t used

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6
Q

1 disadvantages of job production

A

expensive
leads to higher prices
requires skilled employees

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7
Q

1 advantages of flow production

A

allows outputs to be in huge volumes
allow specialisation so workers can become more efficient
cost per unit is cheap

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8
Q

1 disadvantages of flow production

A

initial costs are high
risky as demand could fall
no flexibility as products are all the same
division of labour and specialisation can lead to boredom in workers

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9
Q

1 example of flow production

A

soft drinks supplier
fast food chains
car production lines

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10
Q

1 what is JIT

A

Just In time
produces to order
only produces when the customer wants it

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11
Q

1 what is JIC

A

Just In Case
holds stock just in case there is a delay from supplier or sudden increase in demands

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12
Q

1 what is kaizen

A

continuous improvement
employees think about ways to improve from previous delays

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13
Q

1 advantages of Just In Time

A

Low stockholding because held stock is minimised
less danger of theft or having to reduce prices if not sold
doesn’t require as much space

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14
Q

1 disadvantages of Just In Time

A

risk to production if difficulties with suppliers
business doesn’t benefit purchasing from economies of scale
more transport costs due to frequent deliveries

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15
Q

1 advantages of Just In Case

A

can meet the demands of sudden stock increases because of spares
lower risk to supply problems
buy in bigger quantities will give discounts as bulk buying
less transport costs because of less frequent deliveries

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16
Q

1 disadvantages of Just In Case

A

holds stock that might go out of date or need to have reduced price in order to sell
higher stockholding costs as emergency supplied are kept

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17
Q

1 advantages of kaizen

A

creates small changes over time, leading to significant improvements when the work is done
motivate employees as they are more involved in the production process and improvements

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18
Q

1 disadvantages of kaizen

A

employees have to be committed to the same goals as managers
some employees may want to resist this

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19
Q

1 what is efficiency

A

how well a business uses its resources
produce maximum output using fewest inputs
measured by unit costs
low unit costs means efficient

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20
Q

1 what does efficiency depend on

A

employee management
suppliers
level of investment in machinery
way products are produced
level of waste

21
Q

1 what is stock

A

includes raw materials
work in progress
finished goods

22
Q

1 advantages of stock

A

no loss of sales
-customers get what they need
gaining goodwill
-good reputation for reliability
shorter lead times
-not wait too long after purchase

23
Q

1 disadvantages of stock

A

higher insurance costs
shrinkage
obsolescence
-stock can go out of date
storage costs
finance
-trade credit may run over and cost more
opportunity cost
-money tied up in stocks cannot be used elsewhere

24
Q

1 why is Just In Time efficient

A

fewer costs for stock hold
helps to reduce overall costs
improve profits

25
Q

1 why is Just In Time a bad thing

A

can’t benefit from purchasing economies of scale (lower cost per unit)
regular smaller deliveries may charge more than one large one

26
Q

2 what are business suppliers

A

general items used to keep the business going
materials used in production process
machines- major purchases

27
Q

2 what factors affect suppliers

A

costs
quality
range of products
delivery speed
flexibility
reliability
reputation
payment
contact terms

28
Q

2 what is a supply chain

A

refers to all business people and that take part in the process from start to finish until it gets to the customers

29
Q

2 what is procurement

A

involves suppliers establishing the terms of payment and negotiating contract ideas

30
Q

2 what is logistics

A

planning, implementing, and co ordination of the procurement process
movement and storage of inventory

31
Q

2 what is a trade off

A

better quality is likely to cost more but it might save money in the long run if customers are satisfied
faster or reliable suppliers are likely to be more expensive
more frequent supplies may also cost more

32
Q

2 what are the stages of a supply chain

A

supplier
manufacturer
retailer
customer

33
Q

3 what is quality

A

meeting targets set by the business in order to meet customer expectations
targets will be different for different businesses
airline- take off on time
chocolate brand- correct weight of bars

34
Q

3 what is quality control

A

an approach that fixes mistakes after they have occurred

35
Q

3 how do you measure quality

A

failure or reject rates
level of returns
complaints
low customer satisfaction
low loyalty
mystery visitors
staff checks

36
Q

3 what are the consequences of quality problems

A

customer dissatisfaction
cost of recalling
cost of replacing goods
waste products if it can’t be reworked
legal action costs

37
Q

3 it’s important to remember about quality that

A

it’s subjective
personal opinion
not always tangible
changes due to technology
quality control can be costly

38
Q

3 how can you maintain good quality

A

reliable suppliers
quality raw materials
up to date equipment and machines
training of staff
inspect products at each stage
involve staff

39
Q

3 what is Total Quality Management

A

when everyone is focused on preventing errors
ensure quality at each stage of production
better than quality control
prevents mistakes all together
not all employees want the responsibility

40
Q

3 what is division of labour

A

when a worker focuses on a specific range of tasks
a specific task in production

41
Q

3 advantages of labour division

A

workers become specialised in particular duties
enable business to produce large quantities of their products

42
Q

3 disadvantages of labour division

A

lead to boredom
lower motivation = lower production
less pride so quality suffers
dissatisfied workers can lead to high levels of absenteeism
boredom can lead to high labour turn over

43
Q

4 what is customer service

A

the part of a business’s activities that is concerned with meeting customers’ needs as fully as possible

44
Q

4 what are methods of good customer service

A

reliability
safety
customer engagement
product information
after-sales service
well maintained premises
different payment methods
manage customer’s expectations

45
Q

4 benefits of good customer service

A

attract new customers
increase spend
increase market share
increase customer loyalty
increase profitability

46
Q

4 dangers of poor customer service

A

dissatisfied customers
problem attracting new customers
loss of revenue and profit
increased cost in replacing goods

47
Q

4 where does poor customer service come from

A

promising more than they can provide
poor communication
poor management
external factors like supplier is delayed

48
Q

4 impact of ICT on customers

A

websites
-helps business display products and info
-serve customers quickly and efficiently
e- and m- commerce
-customers can shop anytime, anywhere
social media
-communicate effectively
data analysis
-analyse customer purchase
-recommend new products

49
Q

4 negative impact of ICT on customerd

A

ICT can’t treat customers fairly

Business GCSE (7 decks)

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