THEME 2 KEY WORDS

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1. Describes how efficiently resources are actually being used, usually by looking at output per unit of input

  • TQM
  • Productivity
  • Labour capital
  • Productivity efficiency
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2. Employees are organised into teams that share responsibility for production

  • Lean production
  • Team working
  • Kaizen
  • TQM

3. When a firm makes a bid for another and secures over 50% of the shares. That firm effectively swallows up the other one

  • Conglomerate integration
  • Vertical integration
  • Takeover
  • Merger

4. Refers to all those people of working age who have jobs

  • Workforce
  • Employment
  • Unemployment
  • Employees

5. Refers to the traditional method of checking that products are of an adequate standard

  • Quality control
  • Quality assurance
  • TQM
  • Kaizen

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