Unit 1.2.5 Business Resource Needs Flashcards
1
Q
Resources
A
- People/objects/items
- Required by a business
- To produce its goods + services + function effectively
2
Q
Things to consider when resourcing
A
- Quality
- Reliability
- Social responsibility (e.g. fair labour laws)
3
Q
Natural resources
A
- Items used by a business
- Come from the natural environment
- E.g. land, water
4
Q
Factors a business should consider when planning for natural resource needs
A
- Where will they source them from?
- How can they reduce wastage + enviro damage during production?
- Are the raw materials used in production sustainable, accessible + reasonably priced?
5
Q
Factors affecting a business’s use of natural resources
A
- Cost
- Seasonal availability
- Social/environmental standards of suppliers (CSR)
6
Q
Labour resources
A
People who provide their skills, effort + knowledge to the business
7
Q
Subcontractor
A
- Person not directly employed by the business
- But has been contracted to perform certain tasks
8
Q
Factors a business should consider in regard to labour needs
A
- How many workers will be needed + what kind of skills?
- How will the business attract + retain these workers?
- How will the business provide fair pay + healthy working conditions?
9
Q
Capital resources
A
- Tools + machinery
- Used to produce goods or perform services
- E.g. technology, machines
10
Q
Factors a business should consider when planning for its capital resource needs
A
- What kinds of tools/machinery needed?
- How will they repair, maintain + replace capital equipment when needed?
- Do they have the right workers with the right skills to operate machinery?
