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Demand- the desire of customers to buy a product or service when backed by the ability to
pay. Factors which influence demand are: the price, incomes, competitor's actions, the firm's
own marketing strategy and seasonal factors. As the price increased the demand will go up as
more people can afford…

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Operations Management- the process and acts which an organisation performs to satisfy customers. The production function
changes raw materials into finished goods. During the process value is added. There are three types of production:

Job Production- items which are made to meet the specific requirement of the customer. Made in…

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Prevention- try to avoid problems from occurring
Detection- ensures quality problems are detected before reaching the customer
Correction- correcting faults and making sure it doesn't occur again
Improvement- customer expectations of quality are always changing

Quality Initiatives
Bench Marking- Comparing a firms performance with the best practice in the industry…

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some may see targets as threatening it will require ful committment from all employees to succeed and objectives can
quickly become out of date.


Management style- the way in which a manager deals with there employees
Leadership Styles
McGregor- (Theory X and Theory Y) Their are two types of managers.…

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Stock control
The management process that ensures stock is ordered, delivered and handled in the best possible way. An efficient stock
control system will balance the need to meet customer demand against the cost of holding stock.
Stock- the raw materials a business needs to carry out it's operations
The…

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Fixed Costs- expenses that do not change, they have to be paid whether or not the business is trading, examples are costs like
rent and interest charges.
Variable Costs- they will alter as demand and output adjust. An increase in output will require greater supplies and the costs of
these…

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