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Business 101 > Topic 8: Chapters 9-10 > Flashcards

Topic 8: Chapters 9-10 Flashcards

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1
Q

Production

A

Creation of finished goods

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2
Q

Factors of production

A

Land, labor, capital, entrepreneurship and knowledge

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3
Q

Production management

A

What managers do to help a firm create goods

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4
Q

Operations management

A

Transforms resources into goods and services

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5
Q

Form utility

A

The value of producers add to materials in the creation of finished goods

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6
Q

Process manufacturing

A

Part of production that physically or chemically changes materials

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7
Q

Assembly process

A

Part of production process that puts together components

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8
Q

Continuous process

A

Long production runs turn out finished goods over time

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9
Q

Intermittent process

A

Production run is short and the machines are changed frequently to make different products

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10
Q

Computer aided design

A

Use of computers in the design of products

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11
Q

Computer aided manufacturing

A

Use of computers in manufacturing of products

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12
Q

Computer integrated manufacturing

A

Both computer aided design and manufacturing

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13
Q

Flexible manufacturing

A

Machines that can do multiple tasks to produce a variety of products

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14
Q

Lean manufacturing

A

Using less of everything compared to mass production

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15
Q

Mass customization

A

Tailoring products to meet the needs of a large number of individual customers

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16
Q

Six sigma quality

A

A quality measure that allows only 3.4 defects per million opportunities

17
Q

Statistical quality control

A

Continually monitor all phases of the production process

18
Q

Statistical process control

A

Taking samples of product components at each stage of production and plotting on a graph

19
Q

ISO 14001

A

Collection of best practices

20
Q

Program evaluation and review technique

A

Analyzing tasks involved in making a product and how long it takes

21
Q

Critical path

A

In PERT the sequence of tasks that takes the longest time to complete

22
Q

Gantt Chart

A

What projects are being worked on and what stage they are in

23
Q

Intrinsic reward

A

Personal satisfaction when you complete goals

24
Q

Extrinsic reward

A

Pay, praise and promotions given as recognition for good work

25
Q

Scientific management

A

Studying workers to find the most efficient ways of doing things and teaching people

26
Q

Time motion studies

A

Begun by Frederick Taylor, study of what tasks need to be performed to complete a job

27
Q

Principal of motion economy

A

Every job can be broken down into a series of elementary motions

28
Q

Hawthorne effect

A

The tendency that people behave differently when they are being studied

29
Q

Maslow’s hierarchy of needs

A

Theory of motivation (basic need need to be meant to reach self actualization)

30
Q

Some things that motivate workers

A
  • earned recognition
  • advancement opportunities
  • peer and group relationships
  • pay
31
Q

Examples of motivators

A
  • work itself
  • recognition
  • growth
  • achievement
32
Q

Examples of hygiene or maintenance factors

A
  • supervision
  • company policies
  • working conditions
  • salary and status
33
Q

Goal setting theory

A

Setting goals can motivate employees as long as they are accepted, followed up by feedback and supported by organizational conditions

34
Q

Management by objectives

A

Involves a cycle of discussion, review and evaluation

35
Q

Expectancy theory

A

Victor Vrooms theory that the amount of effort employees exert depends on their expectations of the outcome

36
Q

Equity theory

A

Employees try to maintain equity between inputs and outputs compared to others in similar positions

37
Q

Job enrichment

A

A motivational strategy that emphasizes motivating the worker through the job itself

38
Q

Job enlargement

A

Combining multiple tasks in one large and more interesting task

39
Q

Job rotation

A

Involves moving employees from one job to another

Business 101 (13 decks)

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