Operations Influences

Question 1

Globalisation

Answer 1

Different national economies integrated into one market for easy trade of goods and services, and the development of a world economy owning to the increasing flow of goods, services, people, finance and information around the world.

Question 2

Depreciation

Answer 2

(of currency) A fall in the value of a nation’s currency against that of another currency.

Question 3

Regionalism

Answer 3

The classification of the world’s nations into different regions based on their geography and economic links.

Question 4

Trading bloc

Answer 4

A group of nations that have formed a trade alliance by signing a multilateral trade agreement.

Question 5

Jugaad

Answer 5

Making use of what resources are available to complete a project imminently before it is due. (a quick fix to a problem using whatever is available)

Question 6

Robotics

Answer 6

The development of robots, which are machines that can be programmed to perform a variety of repetitive tasks.

Question 7

Computer-aided design (CAD)

Answer 7

Computer technology that allows architects, engineers and designers to draw and adjust designs using a computer.

Question 8

Computer-aided manufacture (CAM)

Answer 8

Computer technology that directly links the design process to the manufacturing process using computers.

Question 9

Tax concession

Answer 9

A reduction in the tax payable by businesses that undertake certain areas of research and development.

Question 10

Common law

Answer 10

Law that is derived from previous court decisions made by a judge.

Question 11

Social responsibility

Answer 11

Involves taking actions or making decisions that are morally and ethically correct and are in the best interests of the community.