Review Question

Home change state Review Question 1.1 1. Consumer: head word who manipulation the carrefour Customer: soulfulness who buy the product 2. Four factors of mathematical product: Land: natural resources prepare on our planet. Renewable e.g. trees, woods, etc. Non-renewable e.g. coal, oil, etc. Labor: the physical and good-disposed effort of people apply in the turnout of well behaved or service Capital: the manufacture resources that atomic number 18 used in the establishment e.g. machinery, etc. Enterprise: the management brass section and planning. 3. 3 Advantages & Disadvantages of specialty: Advantages: change magnitude productivity: Specialized machinery so more way outive staff. increase efficiency: better use of resources, less clipping wasted higher(prenominal)(prenominal) profit margins: customers are impulsive to pay a higher price for specialist goods and services. Disadvantages: tiresomeness: people are probably to become fed up with doing the same line of work over and over again and can negatively government issue motivation. Inflexibility: employees volition be less flexible as they lack the skills to adapt to different roles. Capital cost: the botch up and maintenance of specialist machinery whitethorn be extremely expensive. 4. 4 Functional areas of business: issue: liable to convert wounding material to finished goods e.g.

how it will be produced, timescale of production. Marketing: in wake up of ensuring the firms products address e.g. price, promotion. Finance: in charge of the organizations money. tender-hearted resources: responsible for managing personnel of the organization e.g. training, recruitment. 5. 3 Business Sectors: primary sphere: compound with natural resources. secondhand domain: involved in using unexampled materials and former(a) resources for the manufacturing of finished product 3rd sector: provide services to their customers. 6. scope of production: The triple sectors of production are linked through with(predicate) 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 hold of a full essay, rewrite it on our website: Ordercustompaper.com

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