Production 0.0 / 5 ? Business StudiesOperations managementGCSEAQA Created by: Carys ReesCreated on: 19-05-17 14:10 What is meant by mark-up? The amount added to the cost price of goods to cover overheads and profit. 1 of 31 How do you calculate the selling price of a product? SP=CP+PROFIT 2 of 31 What is the cost price? The production process 3 of 31 What is a product orientated business? Developing of the product, creates the demand for the product 4 of 31 What does a product orientated business include? High advertisement and promotional costs 5 of 31 What is a market orientated business? It involves carrying out market research, then developes the product to suit the needs of the customer 6 of 31 What does a market orientated business include? High market research and promotional costs and some advertisement 7 of 31 What is capital intensive? Plant and machinery (computers/robotics) 8 of 31 What does labour intensive mean? The work of individuals e.g. Holiday company 9 of 31 What is job production? When a single item is produced at a time. It is to create unique products. 10 of 31 What is batch production? It is when a number of products are produced at the same time. Usually products are identical. 11 of 31 What is flow production? It is where identical, standardised items are produced on an assembly/production line. 12 of 31 Is job production capital or labour intensive? Labour intensive 13 of 31 Is batch production capital or labour intensive? Capital intensive 14 of 31 Is flow production capital or labour intensive? Capital intensive 15 of 31 Is job production a mass or niche market? Niche market 16 of 31 Is batch production a mass or niche market? Mass market 17 of 31 Is flow production a mass or niche market? Mass market 18 of 31 What is meant by division of labour? Where employees specialise in what they do best 19 of 31 What is meant by mass customisation? Flow production methods where you take the same products and make them unique 20 of 31 What is lean production? When a business aims to avoid waste by making efficient use of a companys key resources 21 of 31 What is meant by the term JIT (Just In Time)? They have a little buffer stock just in case 22 of 31 What is meant by the term TQM (Total Quality Management)? Ensuring every employee puts in a great amount of effort to each product 23 of 31 What is meant by the term Cell production? How a group of employees are positioned to work efficiently within the business 24 of 31 What is meant by the term multi-skilled workers? Where the business trains employees to be multi-skilled within the company 25 of 31 What are the two factors to multi-skilling? Job enrichment+Job enlargement 26 of 31 What is meant by job enrichment? A management concept to move employees around to different areas to make them more challenging 27 of 31 What is meant by job enlargement? A job design technique in which the number of tasks is increased to add greater variety to activities 28 of 31 How do you measure labour productivity? Output (in a certain time)/Number of employees (during the same time)=no. of products per employee 29 of 31 How to calculate the average cost per unit Total cost/Output 30 of 31 Stock turnover ratio Cost of sales/Average stock=No. of times 31 of 31
Comments
No comments have yet been made