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Business Studies IGCSEPDF 21
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Logistics:
The management of the movement, storage, and delivery of materials and
finished goods.
● Supplier:
A business that provides goods or services to another business.
● Procurement:
The process of obtaining goods and services a business needs from suppliers.
● Computer-aided design (CAD):
Software used to create detailed product designs and technical drawings.
● Computer-aided manufacturing (CAM):
Software and machinery used to control the production process automatically.
● Robotics:
The use of programmable machines to perform repetitive or dangerous
production tasks.
● Capital-intensive production:
Production that relies more on machinery and technology than human labour.
● Labour-intensive production:
Production that relies heavily on human workers rather than machines.
● Added value:
The difference between the selling price of a product and the cost of the
materials used to make it.
➢ Unit 5: Financial Information and Decisions
● Finance:
The money required by a business to carry out its activities.
● Capital:
Money invested into a business by the owner(s) to start up or expand
operations.
● Start-up capital:
The finance needed to start a new business.
● Working capital:
The capital needed for the day-to-day running of a business.
Formula:
Working capital = current assets - current liabilities