Edexcel Business Studies Revision - WebDesPix 2010

Revision flashcards and answers associated with the WebDesPix case study 2010. Reproduced by special permission; Danielle Britton ©2010

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Define: Quality Control

Checking the quality of a product against the standards developed by the company, usually by spot checking.

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Why is quality important?

  • product works well and does what is expected
  • otherwise customers will leave
  • WDP must ask for reviews of products and ensure product standards are constant
  • WDP relies on word of mouth
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What are the benefits of being an LTD?

  • limited liability
  • money can be raised by selling shares to family and friends
  • specialist managers can be employed
  • easier to expand business
  • no minimum investment needed before they start trading
  • incorporated (company can be sued but not the owners)
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What is TQM?

Total Quality Management

  • attitude taken on by workers
  • workers check own products
  • good quality products made
  • 100% satisfaction
  • Japanese concept
  • everyone is responsible
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Define: Quality Control

  • product works well and does what is expected
  • otherwise customers will leave
  • WDP must ask for reviews of products and ensure product standards are constant
  • WDP relies on word of mouth
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What is an LTD?

Private Limited Company

  • limited liability
  • cannot sell shares on the stock exchange
  • must sell shares to family and friends
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What is Kaizen?

  • Japanese concept
  • everyone asked to put idea forward on how production can be improved
  • everyone is involved
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What are the benefits of Quality Control?

Reduces the number of faulty or inaccurate websites created.

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What are the disadvantages of Quality Control?

  • only checks a sample of products
  • other products that were not tested may be faulty and reach customers leaving them dissatisfied
  • time/materials are wasted on making faulty products as checks are done at the end of production
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Why is the book clerk part-time not full-time?

  • Tom works full time on finance and paperwork
  • clerk will deal with enquiries and send bills to customers
  • communicates with customers
  • filling duties
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What are the benefits to WDP by being a partnershi

  • more capital - more investors
  • more ideas
  • split jobs according to skills
  • work can be shared
  • holiday times covered
  • financial details kept private
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What is the benefit of TQM?

If everyone does their job correctly, there will be lower costs and satisfied customers.

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Define: Current Assets

Things that a business owns that can be easily turned into cash, e.g electronics, furniture.

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Define: Assets

Anything that a business owns that has value.

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What is CDS?

C - cash (get money out of bank)

D - debtors (people who owe you money)

S - stock (raw materials waiting to be processed and finished products ready to sell)

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What is "search engine optimization"?

The process of designing a website so that it ranks highly when searched for using search engines.

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What are "domain registrations"?

The process of reserving a unique web address that can be used to referred to the company website.

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Define: Public Sector Ownership

Companies owned by the government, financed by money from taxes, not aimed to make a profit.

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Where is WDP located and why?

Bristol

  • "located where studied"
  • university near which produces potential employees with IT degrees
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What is a Market Leader?

  • A firm that has the biggest percentage of total sales revenue (market share) of a market
  • WDP want to sell the most website designs to be a well-known market leader
  • Market share = your sales/total market sales * 100
  • 
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What is an apprenticeship?

A training program where you earn as you learn.

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Where are WDP's competitors?

  • more competitors all over the world as websites can be accessed internationally
  • because clients are in the South West, this would mean that WDP are mainly competing with similar companies in the South West
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What are the disadvantages of being a partnership?

  • unlimited liability
  • need to consult each other before making decisions - slow
  • disagreements
  • each legally responsible for the actions of others
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Why does WDP use organizational structure charts?

  • see how company is organized
  • inform new employees who is in charge
  • information can be passed between 'areas' and everyone is clear about who does what
  • employees can see where they are - where does the authority lie
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