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Business Studies - S1 > Business Operations > Flashcards

Business Operations Flashcards

1
Q

What is Primary Production?

A

Primary production is the sourcing of raw materials from the ground or the sea.

Primary production includes farming, fishing, mining, quarrying, forestry and oil drilling.

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2
Q

What is Secondary Production?

A

Secondary Production takes the raw material produced by the primary industries and works on it to manufacture finished goods.

For example, wood produced by the primary industry would be manufactured into tables and chairs.

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3
Q

What is Tertiary Production?

A

Tertiary production provides services to all other industries and to members of the public.

Examples include: shops, banking, marketing, insurance and transport, hospitality, education etc.

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4
Q

What is the chain of Production?

A

Chain of production refers to when each stage of production is dependant on the other two in order to get the finished product to the consumer.

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5
Q

Explain the changing trends across the types of production?

A

In the most developed countries, such as Ireland, the modern trend in employment is for a move away from the primary and secondary sectors towards employment in the tertiary sector – this trend is known as de-industrialisation.

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6
Q

What are some reasons for changing trends across the types of production?

A

· Work has become more mechanised than in previous years when work was done manually. Many manufacturing factories now have machines/robots resulting in a loss of jobs.

· The agriculture industry’s price of good has been reduced. E.g. milk is sold cheaply in supermarkets making it difficult for farmers, forcing them to close.

· There is little raw materials in Northern Ireland, so fewer people are needed therefore in the primary industries.

· Many traditional industries in Northern Ireland have closed down due foreign goods coming on to market at cheaper prices.

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7
Q

What is Manufacturing?

A

Manufacturing is the name given to the process of making products.

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8
Q

What is Job manufacturing

A

Job manufacturing is where one single item is completed at a time and is often produced to the customer’s individual specification.

Each product is unique and a long time would have been spent making it. Goods produced by this method are expensive to buy.

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9
Q

What are examples of job manufacturing?

A

· House plans

· Specifically designed wedding dress

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10
Q

States advantages of job manufacturing?

A

· The product is made to the customer’s exact requirements

· Quality of goods is very high

· Can charge a higher price

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11
Q

Disadvantages of job manufacturing?

A

· Increases the average cost of production

· Requires specialist labour

· Slow production process

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12
Q

What is Batch manufacturing

A

Batch manufacturing is used when several of the same product are made at one time. Products are not necessarily produced for a particular customer but are made at regular intervals and then sold to a number of customers.

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13
Q

What are examples of batch manufacturing

A

· Bread

· Newspapers

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14
Q

States advantages of batch manufacturing?

A

· Reduces the need for skilled and flexible workforce

· Machinery may be used

· Manufacturing is faster

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15
Q

States Disadvantages of batch manufacturing?

A

· All equipment must be cleaned and reset between jobs, which loses time

· Products are not made to the requirements of customers-identical

· More space is required for working and storage

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16
Q

What is Flow manufacturing?

A

Flow manufacturing occurs when production takes place as a continuous process. The product is produced along an assembly line with components and parts being added at each subsequent stage.

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17
Q

What are examples of flow manufacturing?

A

· Motor Vehicles

· Toys

· Televisions

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18
Q

States advantages of flow manufacturing?

A

· Final product is less expensive

· Large quantities can be manufactured

· The quality of the product is standardised

· Machinery can be used so labour costs are reduced

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19
Q

States Disadvantages of flow manufacturing?

A

· The work is repetitive and boring

· There is an increased risk of accidents

· Large capital investment is required

· Large buildings are usually needed

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20
Q

What is Process manufacturing?

A

Process manufacturing refers to the manufacturing of process goods which cannot be disassembled. Process manufacturing involves the combination of ingredients according recipes rather than assembly of parts.

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21
Q

What are examples of process manufacturing?

A

· Food and beverages

· Petrol

· Paint

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22
Q

States advantages of process manufacturing?

A

· Large quantities can be manufactured

· Machinery can be used so labour costs are reduced

· Manufacturing is fast

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23
Q

States Disadvantages of process manufacturing?

A

· Large capital investment is required

· Large buildings are usually needed

· Machinery breakdown can halt manufacture

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24
Q

What is specialisation?

A

Specialisation is when an employee concentrates on one particular operation, and does it all the time.

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25
Q

Advantages of specialisation?

A

· People can work constantly at jobs which suit their special skills or training. In this way each person becomes an expert.

· The finished product should be of higher quality because of this expertise.

· Resources can be used effectively and concentrated in one place.

· Goods are made faster, therefore the output from the business is increased resulting in higher profits.

26
Q

Disadvantages of specialisation?

A

· Specialised workers are trained in only one skill so other work may be difficult to find if they become redundant.

· The work may become boring and repetitive, leading to careless mistakes.

· Delays or strikes in one section can cause stoppages throughout the manufacturing.

27
Q

What is division of labour?

A

Division of labour is when the manufacture of a product is divided into a number of small stages and each employee is given a single task which may be very narrow.

28
Q

Advantages of division of labour?

A

· Each worker becomes an expert in one task.

· Lengthy training is avoided but they only need to know one task.

· The work is faster so the costs per unit of manufacture are reduced.

29
Q

Disadvantages of the division of labour?

A

· Boring and repetitive work.

· Bored workers can cause accidents.

· Workers may not take pride in their work – poor quality.

· Delays or strikes can stop the production line completely.

30
Q

What is inventory control?

A

Ensures that the business is not holding large amount of goods for long periods.

Ensures that the business is holding enough inventory to keep its manufacture flowing and to meet the needs of customers.

31
Q

What is the method of inventory control minimum inventory level

A

This is when the business works out the minimum amount of inventory with which it can function. Inventory is re-ordered when that minimum level is reached.

32
Q

Advantages of minimum inventory level method

A

· Less warehousing space is needed for storage

· Ensures that inventory is only reordered when it reaches a certain level

· Capital is used effectively within the business

33
Q

Disadvantages of minimum inventory level method

A

· There may be a delay between ordering the goods and having them delivered, thus the factory may have to cease production until the inventory arrives.

· Businesses can lose its customers if the goods are not available

· It puts pressure on the suppliers

34
Q

What is the Batch inventory control method

A

This method is associated with process manufacturing rather than with industries which make products in a continuous flow. It simply calculates the value of the inventory held and available for manufacturing.

35
Q

What is the First In First Out Inventory Control (FIFO) method?

A

This method is based on selling the oldest inventory first and selling or using the inventory in rotation.

36
Q

Advantages of First In First Out Inventory Control

A

· This method is easy to understand and operate

· This method helps to prevent products going past their sell by date.

· When calculating closing stock it is more likely to reflect the current market valuation.

37
Q

Disadvantages of First In First Out Inventory Control

A

· It can require large warehousing space to be able to rotate stock

· It can be time-consuming due to have to rotate old stock with new stock around

-It can be difficult to calculate the price of products if many different batches are ordered at different prices

38
Q

What is Just-in-time method of inventory control method?

A

This method involves products being manufactured just in time for them to be sold.

This prevents large amounts of finished goods having to wait to go to market.

The raw materials which are needed for making the final product, are ordered and arrive just in time for use in its manufacture.

Large amounts of goods are not held in warehouses waiting to be used.

39
Q

Advantages of Just-in-time inventory control

A

· Capital is used very effectively

· Warehousing is not needed for storage

· There is no waste by having excess inventory

· The finished product should be cheaper for the consumer to buy.

40
Q

Disadvantages of Just-in-time inventory control

A

· The business is very dependant on having a very efficient ordering system

· Manufacturing could be halted if the wrong goods are delivered at the last minute

· It puts severe pressure on suppliers.

· The company and its suppliers must work together closely.

41
Q

Advantages of The Impact of Technology on Manufacturing

A
  1. An improvement of the quality of the finished product.

As a result of the use of technology, the quality of the product is standardised and the possibility of human error is minimised.

  1. The development of new products.

Improved methods of research and development would lead to new products being added to the business’s range, gives a competitive edge.

  1. An increase in the business’s production level.

A fully mechanised business can work 24 hours a day with no interruptions. This would have the effect of increasing the level of output and lead to the benefit of economies of scale.

42
Q

Disadvantages of The Impact of Technology on Manufacturing

A

Possible redundancies of employees.

The increase of automated jobs can cause staff redundancies. Previous skills are no longer required and new ones are needed.

Retraining programme.

A programme of continuous training is required to keep employees up to date with the latest development in technology. This is expensive for the business to sustain.

Capital Costs.

The installation, updating and maintenance of technology requires a substantial capital investment. This costly investment is often impossible for small businesses to fund.

43
Q

What is quality assurance?

A

Quality Assurance is the monitoring and evaluation of a product or service to ensure that standards of high quality are being delivered.

44
Q

Why do businesses find quality assurance important?

A

· It prevents mistakes or defeats in the company’s products

· It provides confidence in consumers that the products are reliable and safe

· It gives the company an advantage over competitors

· It enhances the reputation of the company

· It increases sales and profits

45
Q

What is Customer Service Excellence Standard?

A

The government has developed the Customer Service Excellence Standard for public sector/service organisations to improve their effectiveness and efficiency.

Thus standard places importance on members of the public and ensures that they are top-priority in public service provision.

46
Q

To achieve Customer Service Excellence Standard, emphasis is placed on:

A

· Delivery of the service

· Whether the service is delivered on time

· Level of information available to the customer

· Good Staff attitude

47
Q

Aims of the Customer Service Excellence Standard are to -

A

· Encourage continuous improvement in the delivery of the public service

· Encourage individuals and teams to learn new skills when dealing with customers

· Reward organisations which deliver good services based on customers’ needs.

48
Q

What is the ISO 9001?

A

Help organisations to manage their processes.

It is subject to regular validation by external assessors.

Continual assessment takes place to ensure that standards are being maintained.

49
Q

ISO 9001 looks at how the business:

A

· Trains it staff

· Checks that’s its products are of high quality

· Handles mistakes and responds to consumers

· Has systems to improve its products or services

50
Q

The advantages for a business of having the ISO 9001 award are:

A

· Greater efficiency and less waste

· Successful working practices

· Risk management

· Greater consistency in its products or services

· Advantage over its competitors and Increased profits

51
Q

The disadvantages for the business of applying for the ISO 9001 award are:

A

· Costly process

· Time-consuming process

· Difficulty of getting some staff to accept change

52
Q

What is the European Foundation for Quality Management (EFQM)

A

The European Foundation for Quality Management (EFQM) was created in order to encourage European business organisations to improve their standards so that they be world leaders and achieve total advantage over their competitors.

53
Q

The EFQM model has nine criteria which look at what the business does and what it achieves:

A

· Leadership

· Policy and strategy

· People

· Processes

54
Q

What is Investors in People (IIP)

A

This award is for the importance of the people who work in the business and the need to invest in their training and development.

The idea behind the IIP award is that if the people who work in a business are improved, they will improve the business’s systems which, in turn, will improve the performance of the entire business.

55
Q

The Investor in People award scheme is externally accessed and aims to:

A

· Resolving all the people issues in the business

· Improving the skill levels of all staff

· Getting people to take responsibility for their own development

· Getting everyone to understand the business’s aims.

56
Q

Why do businesses apply for quality awards?

A

· Good for the image of the business

· Assures the public that the business’s product or service is good

· Help improve the profitability & gives a competitive advantage

· Can motivate the employees as they feel that they are part of a
good business

57
Q

Rights and responsibilities of employers in the area of health and safety - employers are expected to:

A

• Ensure the safe use of substances

• Provide health and safety training for employees

• Carry out regular fire drills

• Provide protective clothing e.g. goggles, where necessary

• Maintain all machinery in efficient working order

58
Q

What is the The Health and Safety Executive (HSE)

A

The Health and Safety Executive is the body which has the responsibility for enforcing health and safety legislation.

It produces advice on health and safety matters and guidance of the law and the executive shares this responsibility with the local councils, depending on the health and safety issue.

It also conducts research into the working and effectiveness of regulations, advising Government after consultation with both employers and employees

59
Q

What does the HSE do?

A

· Carries out inspections to ensure laws are being met.

· Investigates incidents.

· Gives free guidance and advice to businesses on how to improve health and safety.

· Advises government on health and safety laws after consultation with both employers and employees.

60
Q

Rights and responsibilities of employees in the area of health and safety - employees are expected to:

A

• Take all reasonable care for their own health and safety and the safety of others
• Co-operate in meeting the business’s health and safety requirements
• Use all equipment carefully to keep it in good working order
• Wear the protective clothing and equipment provided
• Undergo health and safety training
• Report all faults and dangers

Business Studies - S1 (5 decks)

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