12 of the Business glossary’s terms, each with the part of the syllabus where you first meet it.
Specialist or technical language used by a particular profession or group, which people outside that group may not understand.
A principle of the Toyota Production System in which machines or workers stop production as soon as an abnormality appears, so that faults are fixed at their source and defective output is not passed on.
The process of studying a job to identify its tasks and responsibilities and the skills, knowledge and qualities needed to do it.
A document that sets out the title, purpose, main tasks, responsibilities and reporting relationships of a job.
Increasing the number and variety of tasks in a job, at a similar level of skill and responsibility.
Redesigning a job to give the employee greater responsibility, challenge and control over their work, for example by adding planning, decision-making and checking tasks.
A method of production in which a single, unique product or service is made to an individual customer’s specification, one job at a time, usually by skilled workers.
Moving employees between different jobs or tasks at regular intervals, so that they gain a variety of experience and skills.
An agreement between two or more businesses to create and jointly own a new, separate business for a shared project, sharing its costs, risks, control and profits.
An approach to stock management in which a business holds large stocks of materials, components and finished goods as a buffer against supply disruption or unexpected rises in demand.
A method of lean production in which materials, components and finished goods are produced or delivered only when they are needed and in the quantities needed, so that very little stock is held.
An AO3 command term asking for valid reasons or evidence that support an answer or conclusion.