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  1. Print the notecards
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17 notecards = 5 pages (4 cards per page)

Viewing:

Business (9609) AS Level - Unit 4

front 1

The output

back 1

of a business is the total amount produced in a given time period.

front 2

Inventory

back 2

refers to the stocks held in a business, such as materials and semi-finished goods.

front 3

Operations management

back 3

oversees the planning, coordination and control of the transformation process, turning resources (inputs) into outputs.

front 4

Productivity

back 4

measures the output per hour, per person or per machine.

front 5

Sustainable

back 5

activities are those that meet the needs of the business or of society without compromising on the ability to meet future needs.

front 6

Capital-intensive

back 6

production means there is a high proportion of capital (for example, machinery) used relative to other factors of production.

front 7

Labour-intensive

back 7

production means there is a relatively high proportion of labour (employees) used relative to other factors of production.

front 8

The supply chain

back 8

refers to all the different stages involved in making, distributing and selling a good or service, beginning with the material through to the production of parts, through to the distribution and sale of the product.

front 9

Supply chain management

back 9

involves managing the flow of goods and services, and includes the different processes that transform raw materials into final products.

front 10

Lean production

back 10

is an approach that continually seeks to reduce any form of wastage in the production process.

front 11

Capacity

back 11

measures the maximum amount of output a firm can produce at a given moment with its existing resources.

front 12

Factors of production

back 12

are inputs into the transformational process of business, such as land, labour, capital and enterprise.

front 13

Capacity utilisation

back 13

measures the existing output relative to the maximum possible output.

front 14

Capacity under-utilisation

back 14

occurs when a business is producing less than the maximum amount it can produce, given its existing resources.

front 15

Rationalisation

back 15

occurs when a business reduces the scale of its operations and reduces its capacity level.

front 16

Subcontracting

back 16

occurs when one business employs another business to undertake some of the work.

front 17

Outsourcing

back 17

occurs when the business uses other producers to undertake some of its operations.