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Vce Business Management Final Exam Questions With 100% Correct Answers
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Vce Business Management Final Exam Questions With 100% Correct Answers
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Vce Business Management Final ExamQuestions With 100% Correct Answers
Computer-Aided design - A software system that allows a product to be designed on a
computer
- designers and product development engineers can easily experiment with variations of designs
allowing for greater creativity in product design as products can be tested before they are produced
Computer-Aided manufacturing - The use of software to control and computerise the
manufacturing process.
-It involves the control of machinery, tools and equipment whereby they are fed programmed
instructions through a computer.
Website development - Allows businesses to increase sales and improve operation systems
using online technology
Materials Requirement Planning - Looks at MPS and determines the exact materials that will
be needed to meet the MPS.
- Ensures that the business is never under stock with materials, so that production is continuous.
- Ensures that the business isn't overstocked where money is tied up with idle stock.
Just In Time - Materials are delivered to the business just as they are needed in the production
process.
-Requires the operations manager to keep just enough materials on hand to get the workplace
through the next production period
- For it to be effective there must be a strong relationship between the business and suppliers
Forecasting - Requires a prediction of the materials that may be needed in the upcoming
period.
- allows a business to prepare and meet the forecasted demand and allows the ordering of raw
materials inputs ahead of time for periods of high demand or to produce more finished goods than
required on days leading up to an expected busy time
,Master Production Schedule - Shows exactly what is going to be produced, the quantity to be
produced, how the production will be carried out (including labour requirements) and when the
production will occur.
- outlines delivery dates and when contracts are to be met
Quality control - A system that aims to ensure predetermined standards are met involving the
use of inspections of a product/service at various points in the production process
Quality Assurance - A process whereby a business receives certification that its systems and
processes meet strict national and/or international standards as determined by the International
Standards Organisation
Total Quality Management - A process that emphasises continuous improvement in all aspects
of the business by sharing responsibility among all members of a business with customer focus (both
internal and external) being the top priority.
- It aims to REMOVE all faults or errors before production occurs and the system encourages the
belief in continuous improvement (Kaizen) - an ongoing commitment to achieving the highest
possible standard
Lean management - An approach that improves the efficiency and effectiveness of operations
by eliminating waste and improving quality.
- works towards reducing or eliminating seven wastes
Waiting
Excess inventory
Transportation
Motion
Over production
Overprocessing
Defects
Corporate social responsibility in operations - Refers to how businesses takes responsibility for
their actions that impact on the wider community through the use of ethical practices.
CSR Inputs - - Fair dealing with suppliers
, - Ensure suppliers are ethical and socially responsible
- Environmentally sustainable inputs (this may cost more and may not be available locally)
- Local vs Overseas (local suppliers create jobs for local communities that spend wages, which benefit
the local community, where using overseas suppliers reduces this
CSR Process - - OH&S (beyond legal requirements) improved outcomes for staff, less time lost
through injuries, but can be costly through rewriting of procedures
- Training - benefits staff by upscaling, increasing motivation, however loss of time whilst training
employees
- Efficient uses of resources - minimising waste, and ensuring waste is disposed of in a manner that
reduces impacts on the environment
CSR Outputs - - Create good products that support the reduction of waste - fit for intended
purpose and so there is reduced chance of returns, defective products of those that may cause injury
to consumers
- Packaging decisions - aim to minimise packaging the reduce environmental footprint while still
considering perishable items and hygiene
Inputs - The resources used in the production process to achieve a final output. They include:
- Raw Materials
- Capital equipment
- Labour
- Money
- Time
Processes - Refers to the actions performed on the inputs to transform and convert the into
the finished product or service
Outputs - The finished product or completion of a service
Global sourcing of inputs - Refers to the practice of selecting and using suppliers from an
overseas location to obtain the most cost-effective materials and other inputs
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