Unit 9 Applied Business made by Brad 0.0 / 5 ? Applied BusinessUnit 9A2/A-levelOCR Created by: Abi FoxCreated on: 12-05-15 10:14 What is a 'business aim'? Overall purpose and direction of an organisation. 1 of 22 What are 'business objectives'? Specific and measurable steps designed to achieve the overall aim of an organisation. 2 of 22 What is a 'mission statement'? A statement that conveys the purpose, culture, philosophy and focus of an organisation to its stakeholders 3 of 22 What is CPA? Critical Path Analysis is a process used by businesses to plan a sequence of activities in a project in the most efficient and quickest way. 4 of 22 How do you work out EST in CPA? Left to Right (Right to Left for LFT). 5 of 22 What is 'Float Time'? The spare time available for the completion of an activity. 6 of 22 How do you calculate 'Total Float'? LFT (this) - Duration - EST (next) 7 of 22 How do you calculate 'Free Float'? EST (next) - Duration - EST (this) 8 of 22 Name three aims of CPA... 1) To plan complex operations 2) To identify when an activity can commence 3) Identify Critical Path 9 of 22 That's not me and? It's Shutdown 10 of 22 Name a benefit of CPA that applies to 155 Ltd Can help 155 Ltd avoid bottlenecks in the production process. 11 of 22 Name a benefit of CPA that applies to 155 Ltd Can help 155 Ltd minimise their costs and wastage (would make them more profitable - retirement and also wastage is currently a problem). 12 of 22 Name a benefit of CPA that applies to 155 Ltd Can help 155 Ltd save money and maximise profit beneficial for 155 Ltd as it would equate to more money for retirement. 13 of 22 Name a benefit of CPA that applies to 155 Ltd Can increase staff morale as better scheduling, currently staff morale is low at 155 Ltd. 14 of 22 What is 'Labour Turnover'? % of the workforce that leaves during a year. 15 of 22 What is 'Absenteeism'? % of workforce that is away at any one time. 16 of 22 What is 'Wastage'? % of output that is counted as unsaleable, due to damage, faulty or poor quality. 17 of 22 What is 'Labour Productivity'? Amount produced in a given time by the labour/workforce. 18 of 22 Absenteeism formula? Absences/Total Workforce * 100% 19 of 22 Labour Turnover formula? Leavers/Total Workforce * 100% 20 of 22 Wastage formula? Waste/Total Output * 100% 21 of 22 Labour Productivity formula? Output (per period)/Labour Employed (per period) 22 of 22
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