A-level Business Studies Lesson 24 (3.4.2 & 3)

Question 1

Lean production

Answer 1

Production based on the range of time saving and waste saving measures inspired by Japanese manufacturing companies.

Question 2

Time-based management

Answer 2

An approach that recognises the importance of time, and seeks to reduce the level of unproductive time within an organisation. This leads to quicker response times, faster new product development and reduction in waste, culminating in greater efficiency.

Question 3

Just-in-time

Answer 3

A Japanese philosophy that organises operations so the items of stock arrive just at the time they’re needed for production or
sale. The ultimate aim is to eliminate the need for stock, although in practice this is not always ideal.

Question 4

Reduced lead times

Answer 4

Reducing the time taken between an order being received and the final product being delivered to, or provided for, the customer.

Question 5

Technology

Answer 5

In the business world, the application of practical, mechanical, electrical and related sciences to industry and commerce.

Question 6

Teleworking

Answer 6

When people work from home and other locations in keeping contact with their colleagues through IT.