Business Operations Flashcards

Front

The daily functioning of an organization, managing inputs and outputs, including manufacturing, purchasing, and logistics.

Back

Operations

Front

The making of products from raw materials and other inputs like labor, machinery, and tools.

Back

Manufacturing

Front

An example of an output.

Back

House

Front

What purchasing manages.

Back

The flow of inputs and outputs

Front

A candy store owner buys chocolates for $6 per box and sells them for $10 per box. The store owner’s gross profit for the chocolates.

Back

$4 or 40%

Front

Describe inputs and outputs in terms of the six business functions.

Back

This flashcard consists of a diagram.

Front

A manufacturer makes finished products from raw materials and is a type of:

Back

Business ownership

Front

A distributor buys products from manufacturers and resells them to wholesalers, retailers, or the public.

Back

Retailers

Front

Two types of retailers: Bricks-and-Mortar retailers and ________ retailers.

Back

Online

Front

McDonald's and Subway are examples of a ________ business model.

Back

Franchise