2.4, Resource Management Flashcards Preview

AQA A-Level Business Studies > 2.4, Resource Management > Flashcards

Flashcards in 2.4, Resource Management Deck (14)
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1

What happens when businesses combine inputs, raw materials and components in order to produce goods.

Production

2

Describes the effectiveness of production. It is commonly measured by output per worker.

Productivity

3

A measure of how well production is organised to make the best use of resources.

Efficiency

4

The cost to the business of producing each product.

Average Cost

5

Producing a one-off item for a one-off customer. e.g., a wedding dress or tailor-made suit.

Job Production

6

Producing a set number of identical or similar items at a time.

Batch Production

7

Continuous production of a single item.

Flow Production

8

Setting up small production lines or teams (known as cells), and encouraging employees to work in teams.

Cell Production

9

An approach to operations that focuses on the reduction of resource use.

Lean Production

10

The output which a firm could produce in a given time period.

Productive Capacity

11

The use that a business makes of its resources.

Capacity Utilisation

12

The point at which a business cannot produce any more output.

Full Capacity

13

The position where a business is producing at less than full capacity.

Under-Utilisation

14

Reducing the number of resources put into the production process.

Rationalisation