external factors affecting a business

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what does PESTLE stand for
Political, economic, social, technolgical, legal, enviromental
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what are the different types of production
mass, flow, job
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what is job production
high skilled workers, high cost of production
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what is flow production
this is the division of labour, low skilled workers, low cost of production
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what is job production
this is where one type of product is produced then the product is changed
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what is lean production
aim is to reduce all waste in production process to reduce cost
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what are 3 examples of lean production
kaizen, kanban, just in time
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what is just in time
having just the right amount of stock, low levels of stock/ imports come in when needed
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what is cell production
to organise the workforce into teams. this relys on responsibility and autonmy
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what is bench marking
mesures own performance aganst othere businesses
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what does bench marking involve
collecting data, analysing and adapting
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what is economies of scales
benefits of being a girl to reduce the cost of production
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what is marketing economiesof scale
to be able to lower the cost of promotion through access top more efficetive marketing media
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what is financial economies of scale
having access to creit with favourable rates of borrowing
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what is technical economies of scale
use of more effective machinery and equipment saving the business money
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what is purchasing economies of scale
bigger businesses able to buy in large amounts but save money
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what is risk-bearing economies of scale
the business has such large capital that it can afford to invest in projects that might fail
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what is capacity utilisation
the extent to which a enterprise uses its installed productive capacity
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what are the benefits of having full capacity
lower cost, more efficent
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what are the negatives of full capacity
quality suffers, demotivated staff, maintance is difficult, cant cope with changes to demand
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what are differnt ways of full capacity utilisation
overtime and outsourcing
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how does a business improve stock control
prediction deman, minimise theft, technology and scanning
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what are the different types of production

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mass, flow, job

Card 3

Front

what is job production

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Card 4

Front

what is flow production

Back

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Card 5

Front

what is job production

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