5.1 (Mrs Barnes) Flashcards
(46 cards)
(Business L1 Sectors) - Summarise the Primary Sector
Creates raw materials for other sectors (e.g. agricultural, farming, fishing, forestry, mining). Associated with the economy’s of developing countries.
(Business L1 Sectors) - Summarise the Secondary Sector
Once the primary sector produces the raw materials, the secondary sector transforms them into various products (e.g. factory workers).
(Business L1 Sectors) - Summarise the Tertiary Sector
This sector consists of jobs that provide a service to the public (e.g. hotels, retail industry, restaurants and sales). Most of UK workers, work in this sector.
(Business L1 Sectors) - Summarise the Quaternary Sector
Subcategory of the tertiary sector (e.g. Phone, cable and internet providers.)
(Business L2 Departments) - Key Departments
Human Resources (HR), Research, design and development, Logistics, Marketing, Financial, Management
(Business L2 Departments) - Summarise the role of a ‘Human Resources’ department within a company
Ensures the correct number and quality of employees
(Business L2 Departments) - Summarise the role of a ‘Research, Design and Development’ department within a company
Researches new product ideas which are then designed and developed
(Business L2 Departments) - Summarise the role of a ‘Logistics’ department within a company
Distributes the product or service to the end user
(Business L2 Departments) - Summarise the role of a ‘Marketing’ department within a company
Makes consumers aware of the product or service and ensures it meets their needs
(Business L2 Departments) - Summarise the role of a ‘Finance’ department within a company
Responsible for all of the money within the business (profit and cashflow)
(Business L2 Departments) - Summarise the role of a ‘Management’ department within a company
Ensures the organisation operates effectively and efficiently
(Business L4 Technology supporting an organisation) - What is an ESPO?
ESPO stands for the electric point of sale (barcode scanners)
(Business L4 Technology supporting an organisation) - What are ESPOs used for?
ESPOs are used to support stock control (updating a virtual inventory),
(Business L4 Technology supporting an organisation) - What is ‘Just In Time’ in a production context?
‘Just In Time’ is an ESPO Inventory System based on the principal of deliverys scheduled with integrated variability (a form of inventory management that requires working closely with suppliers so that raw materials arrive as production is scheduled to begin, but no sooner).
(Business L4 Technology supporting an organisation) - When was ‘Just In Time’ invented?
‘Just In Time’ was first adopted in the 1970s.
(Business L4 Technology supporting an organisation) - Who invented ‘Just In Time’?
Toyota (a Japanese) company invented ‘Just In Time’
(Business L4 Technology supporting an organisation) - What are the advantages of ‘Just In Time’?
Maximised efficiency and minimized storage necessary.
(Business L5 Collaborative Technology Supporting an Organisation) - What are the Advantages of Collaborative Processes?
Strong collaborative processes can save money on travel and hardware costs. Collaborative
(Business L5 Collaborative Technology Supporting an Organisation) - What are the Advantages of Integrated Systems / Data Collaboration?
Integrated systems and data collaboration can help decision makers come to important conclusions about consumer behaviour.
(Business L5 Collaborative Technology Supporting an Organisation) - What are the four main types of Business Collaboration?
Alliances,
Portfolios,
Innovation Networks,
Ecosystems
(Business L5 Collaborative Technology Supporting an Organisation) - Alliances
Alliances consist of agreements between two or more independent firms, temporarily combining efforts to reach a common goal.
(Business L5 Collaborative Technology Supporting an Organisation) - Portfolios
Portfolio type collaborations consist of many two-way deals with smaller / local firms, mainly for the larger company’s benefit as the smaller firms aren’t networked together and profit little in comparison to larger businesses
(Business L5 Collaborative Technology Supporting an Organisation) - Innovation Networks
Innovation Networks are used to develop individual and group capabilities, as well as secure long term survival. Innovation Networks consist of firms that share R&D goals related to products, services, processes or business models, (e.g. The Human genome Project).
(Business L5 Collaborative Technology Supporting an Organisation) - Ecosystems - What are they? (1)
Ecosystems are the most complex form of business collaboration. Definition: They are loosely interconnected networks of companies and other entities that coevolve capabilities around a shared set of technologies, knowledge, or skills, and work cooperatively and competitively to develop new products and services.
