Defintions Flashcards
(6 cards)
1
Q
Capacity
A
The maximum output over time (labour, equipment , facilities)
2
Q
Capacity utilisation
A
The percentage of capacity used
3
Q
Strategic positioning
A
Where a business places its product within its market to set itself apart from competitors
Focuses on price and differentiation ( porters )
4
Q
Economies of scale
A
When units costs fall as output rises
5
Q
Diseconomies of scale
A
Where the business gets so big that unit costs rise
6
Q
Stakeholders
A
Any group or individual that is affected by or has an interest in the operations and objectives of the business
