Operations
Identify a course input in the production process.
Materials, Labour, Facilities, Human resources, Energy, Information, Customer, technology, Time, Capital, Plus any other reasonable input.
What does a cashflow statement measure?
Cashflow
What process identifies business strengths and weaknesses?
SWOT Analysis
What does WHS stand for in the workplace?
Work health and safety
Identify the two supermarkets in Australia hold majority market share.
Coles and Woolworths
Identify an operations strategy from the syllabus.
· performance objectives – quality, speed, dependability, flexibility, customisation, cost
· new product or service design and development
· supply chain management – logistics, e-commerce, global sourcing
· outsourcing – advantages and disadvantages
· technology – leading edge, established
· inventory management – advantages and disadvantages of holding stock, LIFO (last-in-first-out), FIFO (first-in-first-out), JIT (just-in-time)
· quality management – control – assurance – improvement
· overcoming resistance to change – financial costs, purchasing new equipment, redundancy payments, retraining, reorganising plant layout, inertia
· global factors – global sourcing, economies of scale, scanning and learning, research and development
Define debt financing.
Borrowing money form a financial institution.
Identify ONE pricing strategy.
skimming, penetration, loss leaders, price points
Idenitfy one indicator used to measure the effectiveness of human resources.
Which Australian bank generated the most profit in 2023?
Commonwealth Bank
Identify a tool/methods used to sequence and schedule the operations process.
Ghantt Chart or Critical Path Analysis
Identify TWO financial objectives
Growth, Efficiency, Liquidity, Profitability, solvency.
What channel choice involves only selling the business product through one reatil store in a large geographicla area?
- Selective
- Extensive
- Exclusive
- Exclusive
How are award contracts and enterpreise agreements different?
Award contract are predetermined by the Fair Work Commission and offer employees the minimum standards in the relevent industry while enterprise agreements are made at the worplace level between the employer and employee and offer remuneration that extends beyond the award entitlements.
Who is the current CEO of Apple?
Tim Cook
Identify TWO quality management strategies that can be used to ensure the qulaity of products.
Quality control, quality assurance, quality improvement
Identify a working capital management strategy.
– control of current assets – cash, receivables, inventories
– control of current liabilities – payables, loans, overdrafts
– strategies – leasing, sale and lease back
I'm a promise that if the product doesn't meet quality standards then the consumer can return the product.
Warranty
Identify TWO aspects of the of the ten minimum standards in Australia.
See link for answers
chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://www.gibsonclark.com.au/wp-content/uploads/sites/3/2013/06/National-Employment-Standards.pdf
Which entrepreneur stated the following " I always have optimism, but I'm realistic. It was not with the expectation of great success that I started T......... or S..............
Elon Musk
What is the total movement of material and goods/services from sourcing to customer? (operations strategy)
Supply chain management
I'm used to lower the risk involved with overseas financial transactions.
Hedging or derivatives
Identify the following marketing strategy.
A sales represenattive is trained to know the product features and communicate these to the consumer in an attempt to entice them to buy the product.
Personal selling
I am a human resource strategy that involves locating and attracting the right quantity and quality of staff.
Recruitment
What am I? In 2009, I made hundreds of business go bankrupt, people lost millons of dollars in shares as stock prices plummeted and thousands of poeple lost money in their superannuation.
The 2009 Global Financial Crisis.