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5 - Business operations

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  1. 5.1 Economies and diseconomies of scale

    1. Economies of scale: • internal (falling average total costs as output increases) • external (falling average total costs due to external factors).

    2. Diseconomies of scale: • limits of growth.

  2. 5.2 Production

    1. 5.2.1Production processes

      Production processes: • different types: - job - batch - flow • labour and capital intensive production • the impact of different types of production • calculation of productivity and the impact of productivity improvements.

    2. 5.2.2Principles of lean production

      Principles of lean production: • just-in-time (JIT) • Kaizen • the importance of using resources effectively.

    3. 5.2.3Impact of technology in production

      Impact of technology in production: • use of robotics • balancing cost, productivity, quality and flexibility.

  3. 5.3 Factors of production

    1. Changing relationships between enterprise, capital, land, and labour: • difference between capital-intensive and labour-intensive activities.

  4. 5.4 Quality

    1. The concept of quality and its importance in: • the production of goods and the provision of services: - quality control - total quality management (TQM) • allowing a business to gain a competitive advantage.