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Ch 8A
Ch 8A
Ch 8A
Ch 8A
Ch 8A
100
...are the actions that a business takes to achieve specific goals.
What are strategies?
100
... is the use of external sources or businesses to undertake business functions or activities for the business.
What is Outsourcing?
100
... refers to the mutual dependence that the key functions have on one another. The key business functions work best when they overlap, and employees work towards common goals. For each function area to perform at capacity, it depends on the support of the others.
What is Interdependence?
100
... refers to the separation of key business functions into specialised units or departments. The business is divided into functional areas.
What is Division?
100
... refers to the business processes that are involve transformation or, more generally, 'production'.
What are Operations?
200
... consists of all the activities in which managers engage to produce a good or service.
What is Operations Management?
200
... are goods that can be touched.
What are Tangibles?
200
... include services that cannot be touched.
What are Intangibles?
200
... are the resources used in the transformation (production) process.
What are inputs?
200
... are those inputs that are changed or converted in the operation process.
What are Transformed Resources?
300
... are those inputs that carry out the transformation process.
What are Transforming resources?
300
... is the conversion of inputs (resources) into outputs (goods or services).
What is a Transformation?
300
... refers to the end result of a business's efforts - the service or product that is delivered or provided to the consumer.
What are Outputs?
300
... is the strategy which a business uses to make sure that its products meet customer expectations.
What is Quality Management?
300
... refers to the degree of excellence of goods or service and its fitness for a stated purpose.
What is Quality?
400
... involves the use of inspections at various points in the production to check for problems and defects.
What is Quality Control?
400
... involves the use of a system so that a business achieves set standards in production.
What is Quality Assurance?
400
... is an ongoing, business-wide commitment to excellence that is applied to every aspect of the business's operation.
What is Total Quality Management?
400
... are groups of workers who meet to solve problems relating to quality.
What are Quality Circles?
400
... involves an ongoing commitment to achieving perfection.
What are Continuous Improvements?
500
... is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and service to create exchanges that satisfy individual and organisational objectives. Simplified version: ... is a total system of interacting activities designed to plan, price, promote, and distribute products to present and potential customers.
What is Marketing?
500
... is a group of customers with similar characteristics who presently, or who may in the future, purchase the product.
What is a Target Market?
500
... refers to the decisions and actions of consumers when they purchase goods and services for personal household use.
What is Consumer Buying behavior?
500
... is the market segment at which most of the marketing resources are directed.
What is the Primary Target Market?
500
... is a narrowly selected target market segment.
What is Niche Market?