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ENTREP MIND > FIRE UP PRODUCTION > Flashcards

FIRE UP PRODUCTION Flashcards

1
Q

Improving productivity can be achieved in 2 ways

A
  1. By reducing inputs while output remains constant
  2. By increasing output while input remain constant
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2
Q

machinery, tools, and building humans use
to produce goods

A

Capital

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3
Q

combines the other factors to
produce goods

A

Entrepreneurship

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4
Q

any natural resource used to produce goods
(renewable/nonrenewable)

A

Land

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5
Q

the effort that people contribute to the
production of goods and services

A

Labor

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6
Q

Production Resources

A
  • Financial Resources
  • Human Resources
  • Informal Resources
  • Material Resources
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7
Q

Four Phases of Production

A
  • Operation
  • Assembly
  • Finishing
  • Inspection
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8
Q

refers to operating expenses like salaries, cost of raw
materials, office supplies, Bills for water, telephone, or electric.

A

Variable Cost

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9
Q

Four Stages of Product Lifecycle

A

Introductory Stage
Growth Stage
Maturity Stage
Decline Stage

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10
Q

. This is the stage when new
products are launched in to the market.

A

Introductory Stage

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11
Q

This is stage is characterized when the market has accepted the product and sales begin to
increase.

A

Growth Stage

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12
Q

Consumer are already tested the
product this is time when sales of the product will
reach their peak.

A

Maturity Stage

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13
Q

This stage comes sooner if nothing
has been done to innovate the product

A
  • Decline Stage
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14
Q

Considerations for Production

A
  • Production Strategy
  • Raw Materials to be used
  • Production Technology
  • Process Operation
  • Manpower Requirement
  • Location
  • Plant Layout
  • Product Quality
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15
Q

refers to the ability of a product, whether tangible or
intangible, to consistently meet and exceed customer
requirements or expectations.

A

Quality

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16
Q

an approach that evaluates the
financial return of investments in quality.

A

Return of Quality (ROQ)

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17
Q

Cost Associated with Quality

A

Appraisal Cost
Prevention Cost
Failure Cost

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18
Q

cost of activities designed to
uncover defects through subsequent evaluation of
the different aspects of production

A

Appraisal Cost

19
Q

costs of associated with
preventing defects from occurring.

A

Prevention Cost

20
Q

costs caused by defective parts or products or by faulty services.

A

Failure Cost

21
Q

Ex. Inspections, Routine equipment testing, etc.

A

Appraisal Cost

22
Q

Ex. Training Programs, etc.

A

Prevention Cost

23
Q

Internal Failures, External Failures

A

Failure Cost

24
Q

Dimensions of Product Quality

A
  1. Aesthetics
  2. Conformance
  3. Durability
  4. Perceive Quality
  5. Performance
  6. Reliability
  7. Service Ability
  8. Special Features
25
Q

one that is gauged according to what is
the preferred appearance, feel, smell, taste of the
customer.

A

Aesthetics

26
Q

one that is determined as to how well the product conforms to design specification

A

Conformance

27
Q

one that is determined by length of usefulness of the product

A

Durability

28
Q

one that is based on how the
customer perceive the product to be of quality

A

Perceive Quality

29
Q

one that is based on what the
customers expects the product to be able to do.

A

Performance

30
Q

one that is based on the consistency of
performance.

A

Reliability

31
Q

one that is based on availability of
options in handling of complains or repairs.

A

Service Ability -

32
Q

– one that is based on the extra
characteristics or unique features of the product.

A

Special Features

33
Q

the process of
mainstreaming quality consciousness in the organization, from supplier to customer.

A

Total Quality Management (TQM)

34
Q

Effective TQM includes:

A

Employee Empowerment
Continuous Improvement.
Bench Marking.
Just-in-time
Knowledge of EQM

35
Q

Global Standards

A

ISO
HACCP
Halal

36
Q

the international organization for standardization is
considered the largest developer of standard in the
world. 155 countries.

A

ISO

37
Q

internationally accepted technique for preventing microbiological, chemical, and physical contamination of food particularly during the processing of food products.

A

HACCP - Hazard Analysis Critical Control Point

38
Q

This refers to food that is permissible for consumption
under Islamic Law

A

Halal

39
Q

e planned and systematic activities implemented in systems to fulfill the quality requirements for a product or service

A

Quality Assurance (QA

40
Q

are cost that continue even if no
units are produced.

A

Fixed Expenses

41
Q

those that vary with the volume of units produced.

A

Variable Expenses (cost of goods/cost of sales

42
Q

this includes the wages of
workers whose outputs are closely related to or associated with the making of the product

A

Direct labor

43
Q

these refer to cost of
inputs or raw materials that become part of
the product.

A

Direct materials

44
Q

comprises all other costs incurred
in production but do not become part of product.

A

Overhead Costs

ENTREP MIND (4 decks)

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