Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

GCSE 🏋🏾‍♂️ > Business Studies Topic 3 > Flashcards

Business Studies Topic 3 Flashcards

You may prefer our related Brainscape-certified flashcards:
GCSE Geography - AQA flashcards GCSE Religious Studies - Edexcel Route B flashcards GCSE Religious Studies - Eduqas Route A flashcards GCSE Religious Studies - Edexcel Route A flashcards GCSE Religious Studies - Eduqas Route B flashcards
1
Q

Define production

A

The action of making or manufacturing from componenets or raw materials .

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

What is job production ?

A

Job production is where one single product is made at a time .

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

What are two advantages of job production ?

A
  1. Very motivated workers who can see one item made from start to finish .
  2. Motivated workers are normally more productive
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

What are two disadvantages of job production ?

A
  1. Skilled labour and craftsmen are expensive
  2. Wide range of tools may be required
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

What is flow production ?

A

Flow production is where mass amounts of products are made in one go

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

What is one example of flow production ?

A

Coca cola

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

What are two advantages of flow production ?

A
  1. A business can make larger quantities which means they can buy bulk raw materials and save money
  2. Automated and computerised production means improved quality and more complex designs can be made in shorter times
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

What are two disadvantages of flow production ?

A
  1. High costs to buy the factory and machinery
  2. Low motivation of staff due to repetitive tasks
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

What is lean production ?

A

Lean production is where a business uses as few resources as possible

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Lean production tries ro use as few resources as possible, waste is also kept to a minimum there are seven wastes , what are they ?

A

Transport , motion , inventory , waiting , over-processing , over-production and defects .

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

What is just-in-time delivery ?

A

Just-in-time means that a business does not keep stocks of parts in a warehouse . Instead they order the parts and get them supplied the same day.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

What are two advantages of just in time delivery ?

A
  1. As parts are ordered as they are needed there is no wastage .
  2. Stock is less likely to go out of date .
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

What are the disadvantages of just in time delivery ?

A
  1. The business won’t be able to meet unpredicted demands .
  2. The business won’t be able to quickly replace damaged parts .
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

What are the disadvantages of just in time delivery ?

A
  1. The business won’t be able to meet unpredicted demands .
  2. The business won’t be able to quickly replace damaged parts .
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

What does procurement mean ?

A

The process by which a business buys raw materials , products other resources from suppliers to produce their own products and services .

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

What is direct procurement ?

A

Buying raw materials that are used in the making or the product, or delivery of the service .

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

What is indirect procurement ?

A

Buying maintenance contacts , admin stationary , marketing advert space , ICT and other support items .

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

What are the six factors a business needs to identify when choosing a supplier ?

A
  1. Quality and reliability
  2. Speed and flexibility
  3. Good service
  4. Value for money
  5. Communication
  6. Financial security
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

What does logistics mean ?

A

The activity of transporting goods to customers .

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

What is a supply chain ?

A

A supply chain is all the businesses which provide parts of the product until it gets to the consumer .

21
Q

What is the definition of quality ?

A

A measure of how well made a product is .

22
Q

What does a quality product always leave you feeling ?

A

Satisfaction

23
Q

What does TQM stand for and what does it mean ?

A

Total quality management . This is a management approach to long term success through customer satisfaction . The business will focus everything on quality .

24
Q

What are two advantages of TQM ?

A

. Not paying for inspectors means lower costs
. Empowered employees are motivates and therefore more productive .

25
Q

What are two disadvantages of TQM ?

A

. Takes time to introduce
. Some staff might be resistant to the change in culture .

26
Q

What are the benefits of a quality product ?

A
  1. Additional sales
  2. Enhanced reputation
27
Q

What is internal failure ?

A

Where costs can include the cost of scrapped material and rework and repair .

28
Q

What is external failure ?

A

Where costs can include product recalls, customer complaint handling and loss of reputation .

29
Q

What is a franchise ?

A

Where a small business owner buys the rights to sell the goods and services of a large, well-established company .

30
Q

What is a franchisee ?

A

This is a small business owner who is buying the rights .

31
Q

What is a franchisor ?

A

This is the large business who are selling the rights.

32
Q

What is outsourcing ?

A

A business practise in which a company hires people to do certain jobs .

33
Q

What are the four examples of outsourcing ?

A

Production , payroll , purchasing and delivery

34
Q

What is customer service ?

A

The assistance and advice provided by a company to those people who buy or use its products or use its products or services .

35
Q

When is customer service ?

A

Before the sale , at the time of the sale and after the sale

36
Q

What does before the sale ?

A

A customer may wish to get some advice, particularly if they are spending lots of money .

37
Q

What is meant by at the time of the sale ?

A

A customer may want gift wrapping or easy payment terms

38
Q

What is meant by after the sale ?

A

A customer may need to call the helpline if the product doesn’t work or if they need further advice .

39
Q

What is the sales process ?
There are seven steps .

A
  1. Preparation
  2. Introduction
  3. Questioning
  4. Presentation
  5. Objection handling
  6. Close
  7. Follow up
40
Q

What will good product knowledge build with a customer ?

A

Trust and confidence

41
Q

How will product knowledge of the employee help a customer ?

A

Help to meet their needs and the right product . Becausecof this the number of returns by the cystomers will reduce .

42
Q

What is customer engagement ?

A

Means creating a positive experience fo the customer

43
Q

What is meant by post sales services ?

A

Post sales services are services that are carried out by the business after the buyer has paid for the goods .

44
Q

What does an increase in customer satisfaction mean ?

A
  1. Satisfied customers
  2. Customers come back to the business and buy again and again
  3. Good reviews
45
Q

What does a dissatisfied customer mean ?

A
  1. Bad reviews
  2. Bad customer spending
46
Q

What is e-commerce ?

A

Any form of business activity conducted electronically can be defined as e-commerce .

47
Q

What are the advantages of social media ?

A
  1. Customers increasingly engage with businesses
  2. Brand visibility
  3. Response to complaints and feedback will be quicker .
48
Q

What are the disadvantages of social media ?

A
  1. Commitment of resources will be expensive for social media
  2. Negative feedback from customers will be more visible .

GCSE 🏋🏾‍♂️ (23 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions