Unit 1- Business Studies

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What is an Employer?
A business that employs a worker.
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What is an Employee?
Anyone who works for a business.
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What is Recruitment?
The process of finding and oppointing new employees.
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What is Internal Recruitment?
Appointing an existing employee of the business to fill a vacancy.
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What is External Recruitment?
Appointing an employee of another business to fill a vacancy.
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What is a Wage?
When an employee is paid a fixed amount for each hour or day they work.
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What is a Salary?
When a worker is paid a fixed amount per month or year no matter what hours they work.
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What is a Pension?
A wage paid to retired workers. Employees pay into their pension whilst they are working and then take it out when they have retired.
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What are Non-Monetery Rewards?
Rewards to employees that do not involve direct payment or money to them.
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What are Monetary Rewards?
Additional payments made to employeed on top or wages/salaries.
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What is Motivation?
The desire to do something. It refers to the desire to work and be productive.
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What is Job Production?
When individual or unique products are made to match the requirement of the customer.
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What is Batch Production?
When groups/batches or identical products are made.
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What is Operational Efficiency?
Producing goods/services to an acceptable standard with as few resources as possible to keep cost per unit low.
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What are Unit Costs?
The average cost of making one product.
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What is Specialisation?
Work is divided into seperate tasks or jobs that allow workers to become skilled at one of them.
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What is Computerised Stock Control?
The use of computers to keep record of all the stock the business has on its premesis.
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What is Computer Aided Design (CAD)?
Using computer programs to design products, such as cars, chocolate bars and clothes.
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What is a Quality Product?
A goog/service the meets customer expectations and is therefore fit for purpose.
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What is Customer Expectation?
The minimum quality standards for a product or service that is acceptable to customers.
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What is Quality Assurance?
Checking the quality of products at various stages of the production process rather than just at the end.
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What is Customer Service?
Provising services to customers before, duting and after purchase, to standards that meet their expectations.
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What is Consumer Protection?
Laws that protect the interests of consumers when buying goods/services.
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Other cards in this set

Card 2

Front

Anyone who works for a business.

Back

What is an Employee?

Card 3

Front

The process of finding and oppointing new employees.

Back

Preview of the back of card 3

Card 4

Front

Appointing an existing employee of the business to fill a vacancy.

Back

Preview of the back of card 4

Card 5

Front

Appointing an employee of another business to fill a vacancy.

Back

Preview of the back of card 5
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