Operations
This term describes the process of converting inputs into outputs.
What is transformation?
This term refers to the four tools a business blends to satisfy customers
What is the marketing mix? (4 Ps)
This financial statement reports a business's revenue and expenses over a period.
What is the income statement (Profit and loss statement)
This HR process involves attracting and choosing suitable candidates to fill a job vacancy.
What is recruitment and selection?
This planet is the largest in our solar system
What is Jupiter
This approach aims for zero defects through continuous improvement involving every employee.
What is Total Quality Management?
This type of research involves collecting new, first-hand data specific to the current issue, such as through surveys
What is primary research?
This liquidity ratio measures a business's ability to pay short-term debts using its current assets.
What is the current ratio?
This area of law governs the relationship between employers and employees, covering pay, conditions, and dispute resolution.
What is workplace/industrial relations?
This author wrote "Pride and Prejudice" and "Sense and Sensibility."
Who is Jane Austen?
This inventory system minimises stock-holding costs by having materials arrive exactly when needed for production.
What is just-in-time (JIT)?
This pricing strategy sets a high initial price for a new product, then lowers it over time.
What is price skimming?
This source of finance involves borrowing funds that must be repaid with interest.
What is debt finance?
This ongoing process involves activities designed to build employee skills and prepare them for future roles.
What is training?
This is the longest river in the world
What is the Nile?
This operations strategy involves producing goods tailored to individual customer specifications, often built-to-order.
What is customisation?
This term describes dividing a broad market into groups of consumers with similar needs or characteristics.
What is market segmentation?
This financial report forecasts cash inflows and outflows to help a business ensure it can meet its obligations.
What is a cash flow statement?
This process formally assesses an employee's job performance against agreed standards or goals.
What is performance appraisal?
This chemical element has the symbol "O"
What is Oxygen?
This process evaluates a business's performance against the best practice of industry leaders.
What is benchmarking?
During this final stage of the product life cycle, sales fall and a business may withdraw or reposition the product.
What is the decline stage?
This term describes the relationship between the debt and equity a business uses to fund its assets
What is gearing?
This process involves an employee's employment ending, whether voluntarily, through retrenchment, or dismissal.
What is separation?
This country hosted the 2000 Summer Olympics
What is Australia?