Marketing
Name 2 promotion methods
E-marketing, sales promotion, PR/customer relations, advertising
Name 2 skills that attribute to successful management
Interpersonal skills, crititical thinking, strategic planning, vision, leadership
what kind of B influence is an economic downturn
a negative external influence.
Risks of debt finance
Liquidation, bankruptcy, heightened overdraft
Difference between the name of a private and public company
Private=Pty Ltd public=Ltd
What is Market based pricing?
Market based pricing evaluates the general market price of similar goods for sale or related goods, after this they can then price their product under or over the standard.
namer the two different leadership styles management can adopt
Autocratic and democratic, contingency would be acceptable too
What Is SWOT an acronym for?
Strengths weaknesses oppurtunites threats
What finance method involves selling shares to gain funds, also. what is a downside of this
equity finance, ownership is diluted or decisions must now be shared
(non discussable)
What kind of business is Pure flow Plumbing Pty Ltd
private company
Packaging
Brand name
What are the four stages of the HR cycle
Aquisition, development, Maintenence, Separation
difference between an internal and external B influence
Internal Influences are things a B can control such as location or management. Whereas external are factors that are outside of the B's control
What method can a business use to quickly increase sales
Reducing the price of the product
Are there more golf courses or McDonalds in Australia
Golf courses
Name three of the main concepts under PLACE
Intensive distributiion, Exclusive Distribution, selective distribution
What are some examples of non-monetary rewards commonly used by B's
Extra leave, greater range of freedom, less surveillance, perks, recognition, flecibility
What kind of economic event forces employers to lay off workers.
recessions
What can poor financial planning lead to (name at least two examples but only one has to be right)
Reduced cashflow, debt, bankruptcy
who was the creatopr of the classical scientific B method and at which B was it developed?
Henry Fayol, at the ford factory
Name one way a business can retain customers and a real life example
Loyalty programs- Woolworths rewards points
limited flexibility- apple retains customers by making it very difficult to change to other programs
Focusing on customer service- Apple having programs such as applecare which appeal to many customers.
(if another answer not mentioned is provided, the team can debate with me and miss whether it is suitable)
Name 2 methods a Business can use to help train new employees
external training programs, coaching, mentorship
(if another answer not mentioned is provided the team can debate with me and miss whether it is suitable)
By what time (in years) do most new B's fail
their fifth year
Fast food B with the most locations in australia
Subway