Business info

Question 1

Job production

Answer 1

involves manufacturing single items or providing one-off services, giving a high level of customization

Question 2

Batch production

Answer 2

typical for smaller scale manufacturing operations where a set number of products are produced as a ‘batch’, allowing for efficiency in production while maintaining quality.

Question 3

Flow production

Answer 3

refers to a continuous move of items through the production process, often applied with mass-produced, standardised products.

Question 3

Cell production

Answer 3

lean method of production which aims at improving efficiency by dividing the workforce into teams (or ‘cells’) that produce an entire product or a significant part of it.

Question 4

Sole traders

Answer 4

a one-person operation. Here, the entrepreneur is the only person who is responsible for the activities of the business, including its liabilities and responsibilities. However, they also reap all of the profits.

Question 4

Capital productivity

Answer 4

refers to how efficiently a business uses its capital in the production process; a high capital productivity indicates that a business is making good use of its resources.

Question 5

Partnerships

Answer 5

Each partner shares in the profits, losses, and liabilities.

Question 5

Private Limited Companies (LTD)

Answer 5

owned by shareholders, but shares cannot be traded publicly. This form protects personal wealth of shareholders as their liability is limited to investment amounts.

Question 6

Public Limited companies (PLC)

Answer 6

can offer shares to the public and are typically listed on a stock exchange. These companies are governed by strict regulations to protect shareholders.

Question 7

Taylors theory name

Answer 7

Scientific managment

Question 8

Mayos theory name

Answer 8

Human relations to managment (Hawthorne effect)

Question 9

Maslows theory name

Answer 9

Hierachy of needs
Bottom is start of career top is end.
Start = physiological needs e.g. pay

Question 10

Herzberg theory name

Answer 10

Two-factor theory (motivators and hygine)

Question 11

What does Taylor state?

Answer 11

Managers should maintain close control and supervision over their employees.

Question 12

What style of leadership does Taylor side with?

Answer 12

Autocratic leadership style

Question 13

What does Taylor believe?

Answer 13

That workers are lazy and are only motivated by money

Question 14

What type of payment does Taylor believe workers should have?

Answer 14

Piece-rate payments, Pain by production, not time.

Question 15

Taylors 4 steps of approach to management

Answer 15

1) work study - identify most efficient method of production.
2) Identify - Spot most efficient workers.
3) Train - Train remaining workers to work like best.
4) Reward - Pay workers based on productivity.

Question 16

What did Maslows theory of motivation entail?

Answer 16

Five levels of human needs which employees need to have fulfilled at work.

Question 17

How do Maslows steps work?

Answer 17

Only once a lower level of need has fully been met, would a worker be motivated by having the one higher.

Question 18

What are the 5 levels in Maslows hierachy of needs?

Answer 18

TOP TO BOTTOM
Self-actualisation
Esteem
Social
Safety
Physiological (basic needs)

Question 19

Two parts of Herzbergs theory of motivation

Answer 19

Hygine factors
Motivators

Question 20

Theorists

Answer 20

Taylor - financial
Herzberg - financial/human
Maslow - human
Mayo - human

Question 21

Herzberg - Hygiene factors

Answer 21

Factors that can de-motivate if not present.
e.g: Pay, working conditions, Job security

Question 22

Herzberg - Motivators

Answer 22

Factors given directly to get people to work harder.
e.g.: Giving responsibilities, recognition for good work, opportunities for promotion.

Question 23

What does herzberg also state?

Answer 23

To use job enrichement and empowerment.
Delegating more power to employees to make their own decisions.

Question 24

How does Mayo say to increase motivation?

Answer 24

Better communication between managers and workers.
Greater manager involvement in employees work lives.
Working in groups.

Question 25

Mayos three elements to employee engagement?

Answer 25

Intellectual engagement - thinking about the job and how to do it better.
Affective engagement -Feeling positive about doing a job.
Social engagement - Takes opportunities to share work-related issues with others at work.

Question 26

Autocratic leadership

Answer 26

Leadership style characterized by individual control over all decisions and little input from group members.

Question 27

Democratic leadership

Answer 27

A leader who asks for input and considers feedback from their team before making a decision.

Question 28

Laissez-faire leadership

Answer 28

‘Allow to do’.
Leader is hands-off and allows group members to make their own decisions.

Question 29

Paternalistic leadership

Answer 29

Involves a dominant authority figure who treats employees as though they were members of a large extended family.
In exchange the leader expects loyalty and trust.

Question 30

Advantages of Job production (hairdresser)

Answer 30

• Customer requirements and changes can be handled.
• Associated with higher quality.
• Employees can be more motivated - job satisfaction.
• Flexible production method.

Question 31

Disadvantages of Job production (hairdresser)

Answer 31

• Individual cost of one unit may be high.
• Often labour-intensive.
• Requires close consultation with client.
• Reliant on high skills.

Question 32

Advantages of Batch production (baker)

Answer 32

• Cost savings by buying bulk materials.
• Allows customer choice.
• Products specialised worked on at each stage.
• Allows a firm to handle un-expected orders.

Question 33

Disadvantages of Batch production (baker)

Answer 33

• Takes time to switch production of one batch to another.
• High stocks of raw materials.
• Tasks may be boring and repetitive.
• Size of batch dependant on capacity allowed.

Question 34

Advantages of Flow production (chocolate)

Answer 34

• Suitable for large quantities.
• Capital incentive means it can work constantly (machine).
• Less need for training and skills.

Question 35

Disadvantages of Flow production (chocolate)

Answer 35

• Very long to set up machinery.
• high amount of raw materials.
• Goods are mass produced, less differentiation for buyer.
• Production is shut down if flow is stopped.
• High capital costs .