external factors affecting a business 0.0 / 5 ? Business StudiesEconomic growthA2/A-levelOCR Created by: leobarnard1Created on: 04-02-20 09:36 what does PESTLE stand for Political, economic, social, technolgical, legal, enviromental 1 of 22 what are the different types of production mass, flow, job 2 of 22 what is job production high skilled workers, high cost of production 3 of 22 what is flow production this is the division of labour, low skilled workers, low cost of production 4 of 22 what is job production this is where one type of product is produced then the product is changed 5 of 22 what is lean production aim is to reduce all waste in production process to reduce cost 6 of 22 what are 3 examples of lean production kaizen, kanban, just in time 7 of 22 what is just in time having just the right amount of stock, low levels of stock/ imports come in when needed 8 of 22 what is cell production to organise the workforce into teams. this relys on responsibility and autonmy 9 of 22 what is bench marking mesures own performance aganst othere businesses 10 of 22 what does bench marking involve collecting data, analysing and adapting 11 of 22 what is economies of scales benefits of being a girl to reduce the cost of production 12 of 22 what is marketing economiesof scale to be able to lower the cost of promotion through access top more efficetive marketing media 13 of 22 what is financial economies of scale having access to creit with favourable rates of borrowing 14 of 22 what is technical economies of scale use of more effective machinery and equipment saving the business money 15 of 22 what is purchasing economies of scale bigger businesses able to buy in large amounts but save money 16 of 22 what is risk-bearing economies of scale the business has such large capital that it can afford to invest in projects that might fail 17 of 22 what is capacity utilisation the extent to which a enterprise uses its installed productive capacity 18 of 22 what are the benefits of having full capacity lower cost, more efficent 19 of 22 what are the negatives of full capacity quality suffers, demotivated staff, maintance is difficult, cant cope with changes to demand 20 of 22 what are differnt ways of full capacity utilisation overtime and outsourcing 21 of 22 how does a business improve stock control prediction deman, minimise theft, technology and scanning 22 of 22
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