Inputs (HSC SSCE Business Studies): Flashcards
📚Flashcards
Practise the cards
10 cards from this deck
ShowHide
Practise the cards
10 cards from this deck
Inputs in business operations
Inputs in business operations
Resources required in production process to create goods/services
Two main categories of inputs
Two main categories of inputs
Transformed resources and transforming resources
Labour as an input
Labour as an input
Physical and mental effort contributed by workers
Energy and value-adding relationship
Energy and value-adding relationship
Direct and proportional - higher value needs more energy
Raw materials
Raw materials
Essential substances in their unprocessed or natural state
Intermediate goods
Intermediate goods
Products with initial processing needing further transformation
Capital-labour substitution
Capital-labour substitution
Process where machinery and technology replace human workers
Transformed resources
Transformed resources
Inputs that undergo change or conversion during operations
Transforming resources
Transforming resources
Inputs that enable transformation but remain unchanged
CRM (Customer Relationship Management)
CRM (Customer Relationship Management)
Systems that maintain ongoing customer contact and interactions