Ops
What are the 2 strategic roles of operations?
What are the 5 objectives of financial management?
profitability, growth, efficiency, liquidity and solvency
What does SMART objective stand for?
specific, measurable, achievable, realistic, timebound.
Balance sheet equation.
A=L+OE
What year did the McDonald's brothers first open a restaurant?
1940
Which business model was initially started based on speed, lower price and volume?
McDonald's
The main internal source of finance
Retained profit
If you were walking past someone and they asked you if you would like to go for a holiday not because they had a holiday for you but they were doing research what is this?
What is it when earnings are adjusted to take into account a one off occurrence?
Normalised earnings.
In 1968 McDonald's started selling which iconic product?
The Big Mac
What are the two types of inputs?
Transformed and transforming
3 profitability ratios
GP, NP, ROE
Give 2 examples of sin goods
alcohol, tobacco and gambling
When expenses of financing a non-current asset are treated as an asset rather than an expense.
Capitalising expenses.
How many seconds does McDonald's allocate for their burgers to be assembled?
20 seconds
What are the 4Vs?
volume, variation in demand, visibility and variety
Often forgotten step in the ARTR.
365/result
Two types of data collected in market research.
Primary and secondary
Which ratio should be 1.2-2.5 times greater than current liabilities?
Liquidity?
McDonald's is in the top 10 largest spending companies when it comes to advertising worldwide. What rank do you think they are?
8th
What are the two sequencing and scheduling tools?
Gantt chart and CPA
Which ratio is also known as the debt to equity ratio?
Gearing
Price strategy used by Apple when it releases new products.
Price Skimming
What is measured in the Triple Bottom Line?
A business's financial, social and environmental performance.
Since 1976 McDonald's has been an official sponsor of what globally?
The Olympic Games