Mr Scott-Walker

Question 1

primary production is?

Answer 1

this involves acquiring raw materials this is known as the extractive production

Question 2

secondary production is?

Answer 2

this is the manufacturing process and assembly process. it involves converting raw materials into components

Question 3

tertiary production is ?

Answer 3

the commercial services that support the production and the distribution process

Question 4

What is the mission for the business?

Answer 4

the overall purpose of the business

Question 5

What does SMART stand for?

Answer 5

Specific, measurable, achievable, realistic and time specific

Question 6

what are the 3 sectors of the uk economy

Answer 6

private sector, public sector, voluntary

Question 7

what can a happy safe environment achieve

Answer 7

motivated workers, confidence and a reputation

Question 8

what are the advantages of behaving ethically?

Answer 8

pleases customers, employees don’t feel guilty, personal satisfaction, good reputaion, customer loyalty

Question 9

what are the disadvantages of behaving ethically?

Answer 9

costs more, time consuming, competitors gain higher market share

Question 10

what are ethics and business ethics?

Answer 10

ethics are moral principles and standards, business ethics is the business behaving in a way which will please customers

Question 11

what is a business mission?

Answer 11

its overall purpose or main cooperate aim

Question 12

how does a the cost of producing products help make business decisions

Answer 12

impacts HR spending, supports budget, pricing strategy of hte product…