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Business Terms Role of Operations Flashcards | StudBud

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Business Terms Role of Operations

12 terms·StudBud Administration·85 plays

Key terms you need to know in #Operations Management

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Questions 12

Answers

1
Consumers expect business to operate fairly, so they expect ...
employees to be treated appropriately
freebies at least once each week
free trade for all
extra chocolate on Fridays
2
A common factor of production is
Books
Raw materials
Television sets
Food
3
What is the business process involving transformation?
Operations
Finance
Human Resources
Marketing
4
Differences in which laws do TNCs take advantage of in production?
Intellectual property laws
All of the above
Labour laws
Environmental laws
5
For a producer of oranges, transformation includes which of the following?
Steel
Sugar
Labour
An office
6
How do consumers advise business of their needs and wants?
Going to gaol
Writing letters to big business
Not going shopping
Purchasing goods and services
7
Most businesses will seek to minimise what to gain market share?
Loan repayments
Market research
Production costs
Lunch times
8
All consumers aim to .....
spend more than their income of goods and services
borrow from Mum and Dad as often as possible
spend as little money as possible on goods and services
spend as much money as possible on goods and services
9
consumers express their concern about what when selecting which business to support?
Sustainable practices
Joanie's new outfit
Their hairstyle
Tony's bald head
10
In a service business, inputs are mainly
Capital as machinery
Packaging and Space
Qualifications and Technology
Information and Time
11
An Operations Management approach called 'lean production' refers to
low-fat cheese
waste minimisation
skinny jeans as uniform
fat-free cafes
12
The creation of this occurs when transforming inputs into output
Profit
Extra oomph
Controls
Value adding