Aldi & JB Flashcards
A method of production in which sets of identical products are made at a time. Work on each set is completed before production switches to another set.
Batch production
Frequent absence of an employee from their work, usually without a justifiable reason.
Employee absenteeism
Ongoing business expenses not directly or specifically attributed to creating a product or service.
Overheads (Indirect costs)
A method of production in which the workforce is divided into individual and independent groups. The staff in each team has a great degree of autonomy and responsibility.
Cell production
Discrete parts of an organisation that has different functions in the company. They produce completely different products to each other.
Division
Owners of a limited liability company. They own shares in a company’s stock.
Shareholders
Focuses on selling existing products into new markets
Market Development
The advantage gained by a company that first introduces a product or service to the market.
First-mover advantage
How the product is given (or received) from the producer to the consumer.
Distribution channel
