1
Q
What is added value?
A
A businesses enhance the worth to raw materials to make products
PROFIT IS NOT EQUAL TO ADDED VALUE BUT WITHOUT ADDED VALUE THEN NO PROFIT
2
Q
Formula for added value?
A
SP-TC(raw materials)
3
Q
Ways to improve added value?
A
Improve efficiency
Raising prices
Brand status
Business component 1
flashcards
Decks in class (42)
# Cards
-
Entertprise18
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Business Plans5
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Markets31
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Market Research20
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Business structure12
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Business location6
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Business finance19
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Business costs & revenues13
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Functioning markets1
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The marketing mix11
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Product17
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Promotion9
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Place5
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Price12
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Decisions about marketing mix4
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New technology7
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Functioning finance2
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Budgeting4
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Business finance2
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Cash flow6
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The income statement5
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Ratio analysis2
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Functions of the Hr0
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Changes in workforce planning4
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Workforce planning2
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Recruitment8
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Training5
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Appraisal3
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Workforce performance4
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Organisational design14
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Motivation0
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Management and leadership18
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Employer/Employee relationships0
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Operations management0
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Added Value3
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Production10
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Technology2
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Lean production14
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Research and Development4
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Economies and of scale8
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Quality9
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Purchasing1
