HR / Operation / PEST
Is Staff issues with Pay rates
a Human Resources issue?
YES
Which ‘P’ in the Marketing Mix would you relate with a
Niche’ Market position?
PLACE
If interest rates rise, is this an External, Macro or Internal Environment influence on a Business.
Macro
In POLC what does ‘L’ stand for?
Leading
Name the 3 steps of
the Operations Model?
In order… bonus points J
Input -> Process -> Output
Marketing strategy is to understand
the ….. and …. of …..??
Needs and Wants of Consumers
In a PEST Analysis, usually, you look for 3 main characteristics?
Relationships, Trends and Patterns
A framework that businesses use for leadership and management?
POLC – Plan, Organise, Lead, Control
In the Business Operations environment,
What is ‘transformation’?
transformation — conversion of inputs (resources) into outputs (goods or services).
Which one of the 4 Functions relates to “the acquisition, management, and use of "Resources”.
Finance Function
To what degree has the business optimised its use of resources and application of processes in achieving goals and/or objectives?
What is this the definition for?
Efficiency
Which type of ‘Planning’ uses 3-5 years to achieve goals?
Strategic Planning
When Interpreting a PEST with trends, patterns & relationships…,
Explain what ‘Trends’ are?
A general direction in which something is developing or changing.
SMART.
What does this Objective stand for?
Specific, Measureable, Achievable, Realistic, Time based
‘Ensuring all employees are completing their designated tasks.’
Which POLC does this task relate to ?? & Why?
Lead
Which POLC element uses these?
Establishing standards
Monitoring performance
Taking corrective actions
Control
Which of the following isn’t a responsibility of HR Dept?
Manage Employees / Recruitment of positions
Training and Appraisals / Organisation Goal setting
Communication / Employment Legislation
Organisation Goal Setting
Name the main activities that make up the Finance Function”.
500 points for 5,
100 points for each.
* Allocating and monitoring of $ resources / * Investment control & evaluation /
* Accounting information systems / * Communication /
* Finance-related legislation & regulations ie Tax
Definition of Competiveness?
“To what degree has the business offered products or services that meet or exceed market standards in relation to other businesses?”
What is the difference between Planning & Organising
elements of POLC?
Planning - Setting up goals and objectives /
Organising - Identifying and allocating resources to action the plan