Unit 3

Question 1

The Role of Business Operations.

Answer 1

Operations refer to the process involved in producing goods & services efficiently.

Question 2

What Businesses Aim for.

Answer 2

.produce high-quality products that meet customer needs
.Keep costs low to maintain profitability
.improve productivity through efficiency

Question 3

Methods of production.

Answer 3

. Job production
.Each product is unique and made to customer specification
.used in industries like luxury goods,Tailoring, Custom cakes and construction.

Question 4

Pros of Method of production

Answer 4

Pros:
.High quality
.skilled workers lead to craftsmanship
.can charge higher prices.

Question 5

Cons of method of production

Answer 5

.High production costs due to labour-Intensive work
.slower production process

Question 6

Flow production (Mass production)

Answer 6

.continuous production of identical products
.Used by businesses like Coca-Cola, car manufacturers and fast food chains.

Question 7

Ways to improve efficiency.

Answer 7

.Automation - use of machines and robots
.lean production- Reduction waste,improving processes
.just in time (JIT) - holding minimal stock to reduce costs
. Kaisen (continuous improvement)-small improvements over time

Question 8

Stock management

Answer 8

Just in case (JIC) stock control

.Businesses hold extra stock to prevent running out

.used in businesses with high demand uncertainty

Question 9

Pros of Stock management

Answer 9

.always have stock available
.can cope with unexpected demand

Question 10

Cons of stock management

Answer 10

.Storage costs are high
.Risk of waste (perishable goods)