Chapters 16 & 17 Study Guide
- Private companies that ship their own goods are called
- A working model of a product is called a
- The details of a product's movement from the manufacturer to the customer are called
- Carriers the general public can use.
- A process that includes managing transportation, storage, materials handling, and delivery terms.
- A system for verifying and maintaining the desired standards in a product or service is called
- A key factor in production management is
- Carriers that have a contract with a particular shipper to handle their goods are called
- A type of organization used to supplement line or line-and-staff organizations.
- A type of credit that entails less risk for the merchant.
- A no-credit policy is used by many businesses that sell
- The intent of these statements is to simplify day-to-day management.
- A policy that guarantees the quality of the goods a business sells.
- A fair policy regarding replacements, refunds, or repairs will help a business maintain
- Form of business organization used when a company is large enough to hire staff, or people who support production and distribution employees.
- General statements of intent about how a business is to be run.
17.Quality circles and ______are two ways to ensure quality products.
18.Businesses use ______and PERT diagrams to schedule production.
19.______development is considered the highest risk part of start-up for a small business.
20.The ______involves managing productivity, automation, and preventative maintenance.
21.The four steps in product development are opportunity recognition, ______, designing the product, and prototype building and testing.
22.The three functions of ______are acquiring the resources needed to create a business's products, planning how to convert those resources into products, and making sure that the products meet the standards set for them.
23.Small business owners can reduce the cost and risks involved with product development by ______.
24.______is the physical movement of the product from the manufacturer to the customer.
25.The three Cs of credit are ______, capacity, and capital.
26.Three of the most common type of organizational structures are line, line-and-staff, and ______organizations.
27.______are necessary for entrepreneurs to manage a business.
28.Job descriptions and job specifications help determine the kind of ______a business needs.
29.A(n) ______helps an entrepreneur delegate responsibility, authority, and work.
30.A business that has too many ______will limit its flexibility to manage its operation.
31.Hours of operation, and credit policies are a part of the ______of a business.
32.Businesses use different ______methods to reach different types of applicants.
33.Scheduling chart that shows tasks to be performed on the vertical axis and time required on the horizontal axis
34.Groups of employees who meet to solve problems involving product quality
35.The process of taking an idea, designing it on paper or computer, building a model, and testing it
36.A measure of how much a business can produce
37.The use of machines to do the work of people
38.The hiring of people and companies to handle tasks a business doesn't have the ability to do
39.The seller pays all freight costs
40.Scheduling diagrams that show a project's major activities in sequence
41.Chart that presents all the jobs in a business and shows how they are related to each other
42.Document that details the duties and responsibilities of a job
43.So much per unit produced
44.An arrangement in which a business or individual can obtain products in exchange for a promise to pay later
45.Form of business organization used by many new businesses
46.Document that spells out the abilities, skills, educational level, and experience needed by an employee to perform a given job
47.To attract prospective employees
48.Pay based on a percentage of sales
49.Discuss the four steps in product development.
50. Explain in detail the difference between policies and rules. Please provide examples of each.