CA5 Flashcards
(115 cards)
State:
“Usually a physical thing that you can touch (but not always) where the quality of it can be compared and are available when needed or wanted”
Product/Goods
Define:
Needs of a customer
Requirements to live (water, food…)
Define:
Wants of a customer
Luxuries that we desire (phones, holidays…)
Fill The Blank:
A customer’s ………. and ………. must be …………. for a business to survive
Wants, Needs, Satisfied
Define:
Primary Sector
Extraction of raw materials or natural resources and growing goods
Farming, Fishing, Mining, Oil
Define:
Secondary Sector
Any business involved in manufacturing of a product, often using the resources gathered in the primary sector
Car Manufacturers, Food Production, Construction
Define:
Tertiary Sector
Businesses that provide services for consumers
Hairdressers, Banks, Supermarkets, Hospitals
Define:
Quaternary Sector
Business that provide information services to other companies or consumers
ICT, R&D, Consultancy
State:
3 sectors of the economy
Private
Public
Third
Define:
Private sector of the economy
Owned and controlled by private individuals and aim to survive and make profit
Sole traders, Private Ltd Companies
Define:
Public sector of the economy
Organisations owned and controlled by the government to provide services to the public for no profit; funded by taxes
National Gov., Local Gov. (Health, Education, Housing)
Define:
Third sector of the economy
Organisations/businesses that aim to help a cause by raising money or increasing awareness
Charities, Social Enterprise
Define:
White Goods
Large household electrical appliances (Fridge, Washing Machine…)
Define:
Tangible
Physical objects you can hold and see
Explain:
Anti-trust laws
Laws preventing a singular company holding a majority of one market share and gaining a monopoly to encourage competition
Fill The Blank:
Organisations implement processes that are carried out by a particular ……………….. area. But each ……………….. area does not work in ………………… with collaboration between the ……………….. areas
Functional, Functional, Isolation, Functional
State:
4 functions of human resources (HR)
- Recruit people to undertake a variety of roles within the organisation - ensuring they have appropriate qual., experience etc.
- Training employees
- Employee relations
- Understanding and keeping up to date with current workforce legislation and regulation
- Setting pay scales, benefits and compensation
Fill The Blank:
Human Resources is critical to the organisation because it deals with …………….
People
Explain:
The consequences of not monitoring stock levels
Use of digital to enable automated stock/inventory control
Customers will go another supplier if an item is ‘out of stock’
State:
3 examples of features that software can introduce to automating inventory and stock control
Use of digital to enable automated stock/inventory control
- Track levels of stock and inventory using QR codes and barcodes in real time and across locations
- Label productions through the generation of QR codes or barcodes
- Compatibility with other software programs such as spreadsheets so that analysis of sales, production and so on can take place
- Producing reports which can be saved, shared and printed
- Multi-user access so relevant data can be shared
- Automatic production of quotes and/or invoices which can be shared with finance software
State:
3 examples of hardware that may be used in conjunction with software
Use of digital to enable automated stock/inventory control
2 of:
* Servers/Clouds
* Computer Terminals
* Networks
* Printers
* QR Code/Barcode readers
State:
2 reasons why the cloud is overtaking traditional storage in house style systems
Traditional, cloud-based tech. and services for coms. and collaboration
2 of:
* Reliability
* Scalability
* Cost-effectiveness
State:
2 reasons a company with their own IT infrastructure/data centres may choose to stick with them over the cloud
Traditional, cloud-based tech. and services for coms. and collaboration
- Managerial benefits
- Security
Explain:
Traditional Technologies
Traditional, cloud-based tech. and services for coms. and collaboration
Hardware connected to a network via a server which gives the employees access to the business’s stored data and applications