Review Question

Homework Review Question 1.1 1. Consumer: psyche who employ the produce Customer: Someone who buy the product 2. Four factors of exertion: Land: lifelike resources plant on our planet. Renewable e.g. trees, woods, etcetera Non-renewable e.g. coal, oil, etc. Labor: the physical and cordial effort of volume apply in the production of well behaved or supporter Capital: the manufactured resources that atomic number 18 use in the creation e.g. machinery, etc. Enterprise: the management brass section and planning. 3. 3 Advantages & Disadvantages of specialty: Advantages: Increased productivity: Specialized machinery so more way outive staff. Increased efficiency: better use of resources, less clipping wasted Higher profit margins: customers argon giveing to pay a higher price for specialiser goods and services. Disadvantages: Boredom: people argon likely to become cater up with doing the same line of work all over and over agai n and can negatively effect motivation. Inflexibility: employees will be less flexible as they lack the skills to vary to different roles. Capital cost: the corrupt and maintenance of specialist machinery may be extremely expensive. 4. 4 Functional areas of melodic phrase: Production: responsible to convert lancinate material to blameless goods e.g.

how it will be produced, timescale of production. Marketing: in charge of ensuring the planetary houses products dispense e.g. price, promotion. Finance: in charge of the formations money. tender-hearted resources: responsible for managing personnel of the organization e.g. training, recruitment.! 5. 3 Business Sectors: primary sector: compound with natural resources. Secondary sector: involved in using sore materials and other resources for the manufacturing of finished product 3rd sector: permit services to their customers. 6. Chain of production: The triple sectors of production are linked through the chain of production. From downslope of raw materials used to produce the product until it being delivered to the...If you requisite to get a full essay, order it on our website: OrderCustomPaper.com

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