Functions of business
Consumer decision making
Ethics vs Morals
Productivity
Pot Luck!
100
What are the 4 functions of business?
HR, financing, marketing and operations
100
What is another name for a consumer?
Customer
100
Explain the difference between ethics and morals.
Morals: an individuals standard of behaviour; principles of right and wrong.
Ethics: a companies rules/guidelines that outline the principles of right and wrong.
100
Identify 1 way a business can improve their productivity
1.Staff training and upskilling
2.Investment in operations and inventory systems
3.Technology
4.Communication
100
How tall is Mr Murray in feet and inches?
Correct for the right feet, bonus for the inches
6 foot four inches
200
Identify 1 traditional and 1 digital marketing strategy
Traditional: Banners, posters, flyers, billboards, buses, newspaper, radio, telephone
Digital: email, social media, TV ads, apps
200
Identify 2 features that differentiate a good and a service
Good: tangible, direct consumption
Service: intangible, assists in end goal
200
List the 3 factors of a 'Triple Bottom Line'
Planet: ensure your product is environmentally sustainable
People: ensure you consumers see the value and ethic's in your product
Profit: ensure you product can create profit when releasing a product
200
List 4 types of staff training
Coaching, teaching, mentoring, reverse-mentoring, on the job training, off the job training, lectures, PDs, education (diplomas, degree's etc.)
200
Identify this logo:
.svg/1200px-Target_Corporation_logo_(vector).svg.png){kind=logo}
Target
300
Identify 1 positive and 1 negative factor for technology in the workplace
Positive: more accurate, faster, greater volume
Negative: costly, regular updates, replaces humans without jobs, faults in systems
300
Identify 1 factor that influences consumers buying decisions and provide an example
•Marketing and Advertisement
•Personal Factors
•Social and Cultural Influence
•Economic Capability
300
Provide an example of how "Moral action can also be unethical"
A lawyer who tells the court that his client is guilty may be acting out of a moral desire to see justice done, but this is deeply unethical because it violates the attorney-client privilege.
300
Explain how communication can impact productivity in the workplace, AND provide an example
If managers and staff are unable to effectively communicate, this can impact a businesses profits as staff might be unaware of what is expected of them. For example, communicating to staff their quota for the day ensures staff understand what is required of their efforts, rather than doing it at their own pace with minimal effort.
300
Which ocean borders QLD and sits between us and America?
The Pacific Ocean
400
Identify 3 examples of EACH function
Finance: money management, budgeting, taxes, profit, debt, assets and liabilities
Operations: suppliers, manufacturers, wholesalers, location, retail, technology, processes/procedures
HR: staff development, training, rostering, inductions, motivation, performance reviews
Marketing: traditional, digital, promotions, sales, discounts
400
I am Jewish and when I go to the supermarket, I would rather choose bread over bacon. What type of consumer decision factor is influenced in this senario?
Social and cultural
400
This is a Coles Collectable Mini's Set (youtube if needed). List 2 reasons how this can impact a company's profits.
Consumers higher interest in collecting, leading to an increase in profits
Unsustainable product (environmentally unfriendly) leading to a decrease in profits
(others)
400
Which of the following is NOT an example of inventory process systems
a) Tracking input quantity schedule
b) Quality assets and liabilities control
c) Delivery notice package
d) End of day sales figures
b) Quality assets and liabilities control
400
What is the name for a beavers home?
Lodge
500
Name the business Logo:
Crocs
500
List the 4 types of factors for 'Personal' consumer buying behaviours
Lifestyle, age, income and occupation
500
In what year was the Public Sector Ethics Act released?
1994
500
What is the total percentage of technology replacing/substituting human operations within businesses today?
90%
500
Who is Slim Dusty?
An Australian country music singer