Unit 9 Applied Business made by Brad

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  • Created by: Abi Fox
  • Created on: 12-05-15 10:14
What is a 'business aim'?
Overall purpose and direction of an organisation.
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What are 'business objectives'?
Specific and measurable steps designed to achieve the overall aim of an organisation.
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What is a 'mission statement'?
A statement that conveys the purpose, culture, philosophy and focus of an organisation to its stakeholders
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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.
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How do you work out EST in CPA?
Left to Right (Right to Left for LFT).
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What is 'Float Time'?
The spare time available for the completion of an activity.
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How do you calculate 'Total Float'?
LFT (this) - Duration - EST (next)
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How do you calculate 'Free Float'?
EST (next) - Duration - EST (this)
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Name three aims of CPA...
1) To plan complex operations 2) To identify when an activity can commence 3) Identify Critical Path
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That's not me and?
It's Shutdown
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Name a benefit of CPA that applies to 155 Ltd
Can help 155 Ltd avoid bottlenecks in the production process.
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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).
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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.
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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.
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What is 'Labour Turnover'?
% of the workforce that leaves during a year.
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What is 'Absenteeism'?
% of workforce that is away at any one time.
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What is 'Wastage'?
% of output that is counted as unsaleable, due to damage, faulty or poor quality.
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What is 'Labour Productivity'?
Amount produced in a given time by the labour/workforce.
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Absenteeism formula?
Absences/Total Workforce * 100%
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Labour Turnover formula?
Leavers/Total Workforce * 100%
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Wastage formula?
Waste/Total Output * 100%
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Labour Productivity formula?
Output (per period)/Labour Employed (per period)
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Other cards in this set

Card 2

Front

What are 'business objectives'?

Back

Specific and measurable steps designed to achieve the overall aim of an organisation.

Card 3

Front

What is a 'mission statement'?

Back

Preview of the front of card 3

Card 4

Front

What is CPA?

Back

Preview of the front of card 4

Card 5

Front

How do you work out EST in CPA?

Back

Preview of the front of card 5
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Abi Fox

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Abi Fox

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On one condition: GET REVISING!! :D x

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Come on guys we haven't got long left, so lets make the most of the time we have and #smash these exams!!! #goteam xxxxx

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Business tutoring available 

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