Business Studies (HSC) Exam Study Guide with Complete Solutions
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Course
Business Studies
Institution
Business Studies
Business Studies (HSC) Exam Study
Guide with Complete Solutions
TOPIC ONE - Correct Answer️️ -OPERATIONS
Define the operations function - Correct Answer️️ -refers to business processes that
transform and add value to inputs to produce outputs, part of the value chain
Define the operati...
Define final goods - Correct Answer✔️✔️-A good or service purchased directly by the
consumer. They are the final output of production processes.
Define interdependence (functions) - Correct Answer✔️✔️-the mutual reliance that the
key functions have on one another - work best when they overlap and employees work
towards common goals
How is marketing impacted by operations? - Correct Answer✔️✔️-- Types of products
that can be produced
- Speed of production
- Cost at which they are produced
How is finance impacted by operations? - Correct Answer✔️✔️-- Amount of money
required to buy the inputs
How is human resources impacted by operations? - Correct Answer✔️✔️-- Number of
staff required
- Skills
- Working methods
How does marketing impact operations? - Correct Answer✔️✔️-- Providing information on
what the market wants
- Types of products that can be marketed effectively
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