Business Studies Unit 2 Definitions

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Sale and Leaseback
A method of raising finance involving a business selling a major asset and then leasing the same asset back from the new owner
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Robotics
The science and technology of robots, and their design, manufacture and application
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Return on capital
A measure of the return made by investing in a business or business project
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Rationalisation
Reorganising production in order to increase productivity and efficiency and often involves closure or relocation of production capacity
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Quality control
The inspection of products as part of a sampling process to ensure that the right production standards have been achieved
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Quality assurance
Organising every process to get the product ‘right first time and prevent mistakes ever happening
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Quality
Where a product meets a customer’s requirements
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Public Relations
The promotion of a business through news stories, sponsorship and similar activities
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Card 2

Front

The science and technology of robots, and their design, manufacture and application

Back

Robotics

Card 3

Front

A measure of the return made by investing in a business or business project

Back

Preview of the back of card 3

Card 4

Front

Reorganising production in order to increase productivity and efficiency and often involves closure or relocation of production capacity

Back

Preview of the back of card 4

Card 5

Front

The inspection of products as part of a sampling process to ensure that the right production standards have been achieved

Back

Preview of the back of card 5
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