24th November definitions

Direct prodcution= When someone produces all the things they need using their own efforts and skills, without the advantages of specialization (concentrating on producing only one product) or the division of labour. Direct production is more an economic model than a real production method.

Kaizen= Continuous improvement

Batch = this is a method of production where one operation is completed on a number of units of the product, before they are then passed on to the next stage of the process.
flow= this is where production takes place as a continuous process. The product flows from one process onto the next. This will usually happen where the product is standardised, and can be made using a production line method.
job= this is a method of production where companies use all their factors of production to complete one job at a time. This will usually happen where products are all unique or they are being produced on a very small scale.

Just in time= It originally referred to the production of goods to meet customer demand exactly, in time, quality and quantity, whether the `customer' is the final purchaser of the product or another process further along the production line

Ansoffs Matrix

Four strategies that businesses in relation to makreting business will use each are used at a particular moment

Market Penetration= Afirm tries to gain more of its exsisting market eg. If coca-cola want to sell more in the UK

New Product development= offers more variety meets customers needs

Market development= Attemps to further increasement

Diversication= Entering a new market business establishes themselves

They are are unique selling tecniques
They make you stand out within competitors
reconisable product

5th November Economy News

http://www.youtube.com/watch?v=bjEnPmg_YEI