Internal business failure is caused by factors ___________ the business

External business failure is caused by factors __________of the business

Which 4 of the following are causes of Internal business failure?

• Poor cash flow

• Poor quality product

• Competition

• Too much customer credit

• Poor marketing

Which 4 of the following are causes of External business failure?

• Changes to legislation

• Poor quality product

• Competition

• Changes in consumer tastes

• Economic Conditions

What is meant by production?

• Turning an invention into a good or service

• The transformation of resources into goods or services

• Selling goods or services

• Using capital equipment when making a good or service

What is Job production?

• Products move continuously through the stages of production

• Factory is divided into sections where a team makes the complete product

• A group of products move together through several stages of production

• Making one product at a time

Which 3 are advantages of job production?

• Highly skilled workers

• High quality product

• Can adapt to meet customer needs

• Cheap to produce

Which 3 are disadvantages of job production?

• High labour costs

• Slow production

• Can adapt to meet customer needs

• Very expensive

What is Batch production?

• Products move continuously through the stages of production

• Factory is divided into sections where a team makes the complete product

• A group of products move together through several stages of production

• Making one product at a time

Which 3 are advantages of batch production?

• Unit cost of production is lower

• Specialised machinery used for each stage

• Flexible to alter products in later stages

• Complex different machines needed

• Defects affects whole batch