AFO GCSE Business Revision Paper 1

When all staff are responsible for monitoring and maintaining quality throughout the business

Making unique products to meet customers exact needs

Good customer service takes place...

Total revenue - Total costs =

Removing management to save money

Production methods that minimise waste

The term for staff staying with a business (not going elsewhere)

Recruiting from within the business

A business sells 100 units at £15 each. Total costs are £500. What is the profit?

What type of ownership has limited liability and restricted shareholders?

Experience that someone receives

Recruitment document that sets out the role, duties and pay for a position

Employment contract working 35-40 hours per week

Short term goal for a business to achieve

Farms, Oil rigs and Fishing

Reasons why employees go to work

Which of these internal growth methods is the fastest?

(Total costs/Units) =

What's the link? speed, quality, distance, reputation, cost, ethics, sustainability

Total costs are £300 and 15 units are made. What is the unit cost?

Training for new members of staff

Financial method of motivation for those selling goods/services

Recruiting from outside of the business

One method of lean production that reduces storage but relies on suppliers heavily

When a managers shares their workload with a subordinate

Rent is £50 per week and materials are £20 per unit. What are the total costs for making 100 units in a week?

Includes; Job analysis, Job description, Person specification and Adverts

Fixed costs + Variable costs =

Capital, Enterprise, Land, Labour

Benefit of having good quality products?