The range of variables which contribute to successful design; they are function, cost and appearance
Design Mix
1 of 13
The amount of output between the actual levels of output where profit is being made and the break-even level of output; if the margin of safety is zero, then production is at or below the break even level.
Margin of Safety
2 of 13
Occurs when the revenues of a business are greater that its costs over a preiod of time.
Profit
3 of 13
Reducing the levels of stocks in a business.
De-Stocking
4 of 13
The revenue earned by a business from the sale of a given quantity sold x average price
Total Revenue
5 of 13
All the costs of a business; equal to fixed costs plus variable costs
.Total Costs
6 of 13
The process of transforming inventions into products that can be sold to customers.
Innovation
7 of 13
Achieving a minimum standard for a product or service, or a production process which meets customers needs
Quality
8 of 13
The amount of stock held by a business at which an order for new stock is placed with suppliers.
Re-Order Level
9 of 13
The flow of cash into and out of a business
Cash Flow
10 of 13
The highest amount of stock to be kept by a business.
Maximum Stock Levels
11 of 13
The number of people who report directly to another worker in an organisation.
Span of Control
12 of 13
Overtime
Time worked over and above the basic working week.
13 of 13
Other cards in this set
Card 2
Front
The amount of output between the actual levels of output where profit is being made and the break-even level of output; if the margin of safety is zero, then production is at or below the break even level.
Back
Margin of Safety
Card 3
Front
Occurs when the revenues of a business are greater that its costs over a preiod of time.
Back
Card 4
Front
Reducing the levels of stocks in a business.
Back
Card 5
Front
The revenue earned by a business from the sale of a given quantity sold x average price
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