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Business Studies GCSE > Unit 3-Business Operations > Flashcards

Unit 3-Business Operations Flashcards

(46 cards)

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1
Q

What is efficiency?

A

How well a business uses its resources to produce products.

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2
Q

What is lean production?

A

Is when a business aims to reduce waste during the production process.

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3
Q

What is Kaizen?

A

It means continuous improvement and encourages employees to suggest improvements.

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4
Q

Advantages of Kaizen?

A

-Improves quality and efficiency
-Improves motivation and productivity
-Improves staff retention

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5
Q

What does production mean?

A

Process of turning raw materials into goods and services that can be sold.

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6
Q

What is Job production?

A

A method of production where a product is produced that meets the specific customer requirements.

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7
Q

What are the benefits of Job production?

A

-Products are high quality
-Higher prices can be charged

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8
Q

What are some drawbacks of Job production?

A

-Unit costs are higher than using flow production
-Requires skilled employees, who may demand higher wages

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9
Q

What is flow production?

A

Method of production where all products are identical and the aim is to produce as many as possible.

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10
Q

Benefits of using Flow production?

A

-Businesses can produce on a large scale
-Production can operate 24/7
-Lower unit costs than job production

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11
Q

Drawbacks of using Flow production?

A

-Jobs are repetitive for employees and can lower motivation
-Initial purchase and set up costs can be high
-If machinery breaks down then they cannot make products

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12
Q

What are some factors that influence the type of production method?

A

-The level of demand of products-Flow production is most suitable for products that are sold to the mass market
-Target Market-Job production would be most suitable

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13
Q

What does procurement mean?

A

It means finding and buying the things that a firm needs from suppliers in order to produce the product.

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14
Q

What does Procurement involve?

A

-Deciding what goods/services need to be bought
-Finding suppliers
-Purchasing raw materials

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15
Q

What is stock management?

A

Involves ensuring the right quantity of stock is always available at the right time, quality and price.

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16
Q

Whay are the two types of Stock management?

A

-Just in Time
-Just in Case

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17
Q

What is Just in Time production (JIT)?

A

Minimum levels of stock are held by the business.

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18
Q

What are the benefits of using Just in Time production

A

-Less storage space required
-Less money is tied up in stock
-Stock is less likely to go out of date or be wasted

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19
Q

What are the problems of using Just in Time production?

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A

-No spare stock is held if mistakes occur
-Reliant on suppliers delivering on time
-No economies of scale

20
Q

What is Just in Case (JIC) production?

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A

When a business holds buffer stocks of raw materials/goods

21
Q

What are the benefits of using Just in Case production

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A

-Business is less reliant on suppliers
-Spare products are available to meet unexpected orders
-Economies of Scale are possible

22
Q

What are the problems of using Just in Case production?

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A

-Need more storage space which increases costs
-Money is tied up in stock and unavailable for other purposes

23
Q

What is a supplier?

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A

A business or individual that provides a business with goods or equipment.

24
Q

What are the factors that make suppliers effective?

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A

-Price
-Quality
-Reliability
-Communication

25
What are some factors that affect the choice of suppliers?
-Price -Quality -Reliability
26
What does Logistics mean?
It means getting goods and services from one part of the supply chain to another.
27
What is a supply chain?
A network of organisations that get products to customers
28
What are the benefits of an effective supply chain?
-Increased efficiency -Lower unit costs
29
What are some issues to consider when making supply decisions?
-Using IT systems to monitor the supply chain can be expensive -Reliance on other member of supply chain mean a business does not have full control
30
What does quality mean?
A product is of good quality if it meets the needs and expectations of the customer
31
Why is quality important?
-Customers are able to complain about poor quality on the internet. -If the business is able to develop a reputation for high quality it will have an advantage over competitors.
32
What are the benefits of higher quality?
-Customer satisfaction -Repeat purchases -Customer loyalty
33
What dies Quality Control mean?
It is a traditional method of checking quality. All or some products are checked at the end of the production process.
34
What are the benefits is Quality control?
-Can protect standard of product -A opportunity to receive feedback on product
35
What are th drawbacks of Quality control?
-Products that do not meet requirements will be wasted -Cost of Inspectors may be high
36
What is Total Quality management?
A quality assurance approach where all employees are responsible for quality, by ensuring their internal or external customers are satisfied.
37
What are the benefits of Total Quality management?
-Quality is embedded into the organisation resulting in few quality issues -Improved employee motivation
38
What are the costs of maintaining quality?
-Cost and time of training -Cost of maintaining consistent levels of quality -If standards are not met it may affect reputation
39
What is M-Commerce?
The act of buying or selling a product using a smartphone or similar handheld device.
40
What is E-Commerce?
The act of buying or selling a product using an electronic system such as the internet.
41
What are the benefits to a business of heing E-commerce?
-Quick and easy way to communicate with customers -Easy to monitor satisfaction and collect feedback
42
What are the problems to a business of using E-commerce?
-Poor reviews can be seen by many people which can affect reputation -Has to be constantly updated and reviewed by business
43
What does customer service mean?
Methods used by a business to look after its current and future customers
44
How can a business have good customer service?
-Meeting customer needs -Accurate product information -Positive customer experience and being efficient
45
What is the importance of providing good customer service?
-Can increase sales -Increased customer relations -Enhanced public image
46
What are some dangers of providing poor customer service?
-Loss of customer loyalty -Loss of sales -Unhappy customers may spread their experiences leading to less customers.

Business Studies GCSE (9 decks)

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