CA5 Flashcards
State:
“Usually a physical thing that you can touch (but not always) where the quality of it can be compared and are available when needed or wanted”
Product/Goods
Define:
Needs of a customer
Requirements to live (water, food…)
Define:
Wants of a customer
Luxuries that we desire (phones, holidays…)
Fill The Blank:
A customer’s ………. and ………. must be …………. for a business to survive
Wants, Needs, Satisfied
Define:
Primary Sector
Extraction of raw materials or natural resources and growing goods
Farming, Fishing, Mining, Oil
Define:
Secondary Sector
Any business involved in manufacturing of a product, often using the resources gathered in the primary sector
Car Manufacturers, Food Production, Construction
Define:
Tertiary Sector
Businesses that provide services for consumers
Hairdressers, Banks, Supermarkets, Hospitals
Define:
Quaternary Sector
Business that provide information services to other companies or consumers
ICT, R&D, Consultancy
State:
3 sectors of the economy
Private
Public
Third
Define:
Private sector of the economy
Owned and controlled by private individuals and aim to survive and make profit
Sole traders, Private Ltd Companies
Define:
Public sector of the economy
Organisations owned and controlled by the government to provide services to the public for no profit; funded by taxes
National Gov., Local Gov. (Health, Education, Housing)
Define:
Third sector of the economy
Organisations/businesses that aim to help a cause by raising money or increasing awareness
Charities, Social Enterprise
Define:
White Goods
Large household electrical appliances (Fridge, Washing Machine…)
Define:
Tangible
Physical objects you can hold and see
Explain:
Anti-trust laws
Laws preventing a singular company holding a majority of one market share and gaining a monopoly to encourage competition
Fill The Blank:
Organisations implement processes that are carried out by a particular ……………….. area. But each ……………….. area does not work in ………………… with collaboration between the ……………….. areas
Functional, Functional, Isolation, Functional
State:
4 functions of human resources (HR)
- Recruit people to undertake a variety of roles within the organisation - ensuring they have appropriate qual., experience etc.
- Training employees
- Employee relations
- Understanding and keeping up to date with current workforce legislation and regulation
- Setting pay scales, benefits and compensation
Fill The Blank:
Human Resources is critical to the organisation because it deals with …………….
People
Explain:
The consequences of not monitoring stock levels
Use of digital to enable automated stock/inventory control
Customers will go another supplier if an item is ‘out of stock’
State:
3 examples of features that software can introduce to automating inventory and stock control
Use of digital to enable automated stock/inventory control
- Track levels of stock and inventory using QR codes and barcodes in real time and across locations
- Label productions through the generation of QR codes or barcodes
- Compatibility with other software programs such as spreadsheets so that analysis of sales, production and so on can take place
- Producing reports which can be saved, shared and printed
- Multi-user access so relevant data can be shared
- Automatic production of quotes and/or invoices which can be shared with finance software
State:
3 examples of hardware that may be used in conjunction with software
Use of digital to enable automated stock/inventory control
2 of:
* Servers/Clouds
* Computer Terminals
* Networks
* Printers
* QR Code/Barcode readers
State:
2 reasons why the cloud is overtaking traditional storage in house style systems
Traditional, cloud-based tech. and services for coms. and collaboration
2 of:
* Reliability
* Scalability
* Cost-effectiveness
State:
2 reasons a company with their own IT infrastructure/data centres may choose to stick with them over the cloud
Traditional, cloud-based tech. and services for coms. and collaboration
- Managerial benefits
- Security
Explain:
Traditional Technologies
Traditional, cloud-based tech. and services for coms. and collaboration
Hardware connected to a network via a server which gives the employees access to the business’s stored data and applications
State:
3 disadvantages of using traditional technologies
Traditional, cloud-based tech. and services for coms. and collaboration
- Must purchase additional hardware and upgrades to support increase in workforce or access to data
- Mandatory software upgrades are also required to support systems if there is a risk of hardware failure
- Must have their own IT department to install, upgrade and maintain hardware and software
Fill The Blank:
Traditional technologies can offer the most …………… solutions for hosting ……….. as businesses maintain full …………… of their software and data on their ‘local’ server
Traditional, cloud-based tech. and services for coms. and collaboration
Secure, Data, Control
Fill The Blank:
A cloud server is not hosted on the ……………… of the organisation
Traditional, cloud-based tech. and services for coms. and collaboration
Premises
Define:
Cloud Solution
Traditional, cloud-based tech. and services for coms. and collaboration
Real-time environment hosted between a number of servers simultaneously
Fill The Blank:
Instead of …………. hardware, an organisation will ……… data storage space from cloud computing providers on a pay-per-………. basis which is more …….. …………………..
Traditional, cloud-based tech. and services for coms. and collaboration
Physical, Rent, Use, Cost Effective
True or False:
Traditional IT systems are more resistent than cloud solutions
The difference between the cloud and traditional IT solutions
False - Cloud solutions are more resilient (can recover quicker)
State:
3 disadvantages of using a traditional IT system over a cloud solution
The difference between the cloud and traditional IT solutions
3 of:
* Not as resilient as the cloud
* Not gauranteed that there will be a consistent high level of performance from servers
* Periods of downtime - disrupt productivity of business
* Only has resources available to them - if they run out will have to upgrade or leasing another server
* Require an in-house management/support team for the hardware and systems
* Servers decrease in value over time meaning little return on investment
State:
2 advantages of cloud solutions to a business
The difference between the cloud and traditional IT solutions
2 of:
* No loss of data or downtime; distributed evenly across their servers and always other servers available
* Greater storage facilities, server resources and computing power
* Provides more flexibility and scalability; possible to increase server resources/storage space easily or scale down depending on needs
* Save time and money; less maintenance and pay as you go
State:
2 disadvantages of cloud solutions to a business
- Cloud storage may require changes to current systems to be integrated which can be time consuming and costly
- Thought to be less secure to a cloud provider must be checked to be trusted and have a proven track record
Define:
Feasibility Study
Feasibility Study
Analyse whether the project is viable and worth investing money and time into
Fill The Blank:
To be economically Viable a project should provide a …….. - financial (profits or savings) or another business benefit
Feasibility Study
Return
Fill The Blank:
A feasibility study will identify any potential ……………. or …………. and how to mitigate them
Feasibility Study
Problems/Issues, Risks
State:
3 resources project managers will consider when looking at the feasibility of a project
Feasibility Study
- People
- Budget
- Technology
Fill The Blank:
A feasibility study allows a business to look at the wider …………. and how it could affect with other …………… or elements of the business and if so what ………………… need to be consulted to find mitigations
Feasibility Study
Context, Projects, Stakeholders
State:
3 benefits of a feasibility study
Feasibility Study
3 of:
* Allows a cross-section of the business to consider and agree on the project
* It enables the key stakeholders in the project to establish the viability and potential success of the project
* Pre-empts issues and problems, allowing a project team to mitigate them
* Help establish whether a project should be delayed until further resources become available
* Provide risk/return on investment analysis
State:
3 drawbacks of a feasibility study
Feasibility Study
3 of:
* May be time consuming and be insufficient time or expertise to carry out
* Commonly only a documented (written) analysis and may not identify problems that happen in real-time during the project
* Can be expensive; depending on the industry concerning
Explain:
2 potential risks to a project
Risks, Constraints and Dependencies
2 of:
* Failing to plan - very important projects are carefully planned and minimise disruption to business functionality
* Changes to hardware or software can affect progress if happening during the project - prevent new system from functioning as intended
* Organisation merges with another organisation part way through project and merger impacts project requirements
* Key project team member or team members leave organisation part way through the project
Define:
Constraints
Risks, Constraints and Dependencies
Limiting factors that can impact on the overall success and quality of the project
State:
3 examples of constraints
Risks, Constraints and Dependencies
3 of:
* Time
* Cost
* Scope
* Quality
Fill The Blank:
Any changes to either …….., cost or ………… will impact the …………… of the outcome of the project and any changes to the expected ……………….. can have an impact on the other 3 constraints
Risks, Constraints and Dependencies
Time/Scope, Time/Scope, Quality, Quality
State:
3 responsibilities of a project manager
Risks, Constraints and Dependencies
3 of:
* Set sequence of tasks within the project plan
* Calculate time each task will take (Usually called critical path)
* Identify resources required to complete each task
* Identify any potential scheduling problems
* Monitor and manage the tasks
* Identify and action any opportunities to accelerate schedule of the project’s task
Explain:
Briefly, finish to start dependency
Risks, Constraints and Dependencies
First task (predecessor) must be completed before the next task can start (successor)