Business General - Miss Shaw - Year 10 - Up to February 2016 Flashcards Preview

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Flashcards in Business General - Miss Shaw - Year 10 - Up to February 2016 Deck (11)
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1

What is a distribution channel?

A distribution channel is the network of individuals and organizations involved in getting a product or service from the producer to the customer.

2

What is Batch Production?

A production method which involves making each component of a product in different stages to be assembled at a final stage. It is used for mass production.

3

What is Job Production?

Also known as 'One Off Production'. It is producing small quantities of custom made products to often different specifications

4

What is operational efficiency?

Operational efficiency is the capability of an enterprise to deliver products or services to its customers in the most cost-effective manner possible while still ensuring the high quality of its products, service and support.

5

Name some ways a business increase operational efficiency?

-Staff Training
-Improved Procedures (How a business does something)
-Specialisation in a certain area
-Reduced Wastage
-Improved Motivation

6

What is Operations Management?

Operations management means controlling the resources of a business to make a product or provide a service efficiently and to a satisfactory level of quality.

7

What is customer service? How is it important for small businesses?

Customer service means meeting the needs of customers as fully as possible and is very important for small businesses, who can improve their customer service by offering a personalised and reliable product for their customers

8

What is reliability?

Providing a service of the same standard to every customer, every time they visit.

9

What impacts does the internet have on customer service and why would a small business invest in a website?

-Websites allow consumers to access a firms products through the internet

- They are cheap and easy for a firm to set up, although are often developed by a third party company and supported by online marketing companies

-They allow the consumer to identify and purchase products

-They provide After Sales Service with extensive information available online

10

What is 'E-Commerce'?

Any form of business transaction between a firm and a consumer through the internet.

11

How can small businesses reduce costs by utilising 'E-Commerce'?

-They can source cheaper supplies through 'E-Commerce'

-Expansion through 'E-Commerce' is likely to be much cheaper than opening new stores