Business Flashcards
What are the three methods of production?
- Batch production
- Flow production
- Job production
What is job production?
When individual products are made at one time to meet a specific customers needs or wants.
What is flow production?
It is a state of continuous production of products.
What is batch production?
A method where similar or identical products are made together or at similar sized production runs.
What are benefits of using technology within a business?
- Wider market
- No need for stores
- Increases efficiency
What are costs of using technology within a business?
- There is an increased dependence on technology based selling points
- Increased risk of job cuts
- security risk of inflation and fraud
- Technology fails
Why is automation important in a business?
- Higher productivity
- Reliability
- Availability
- Increased performance
- Reduced operating costs
Define QUALITY:
Meeting the needs and wants of customers
Define QUALITY CONTROL:
Checking and inspecting products before they leave to ensure that what customers receive is of a high standard.
Define QUALITY ASSURANCE:
Determining whether a product or service meets specific requirements.
Why is quality important for a business?
To help improve their reliability, durability and performance.
What is the sales process?
A set of repeatable steps that a sales person takes to take a prospective buyer from the early stage of awareness to a closed sale.
Why is consumer law important?
Complying with the law will avoid legal problems and assure customers about the quality of the products sold by a business.
What factors affect location?
- Proximity to suppliers
- Raw materials
- Land
- Water
- Capital
- Power
- Transport
- Market
