Operations
The strategic role of operations is.....
Cost leadership and good/service differentiation
What does SWOT stand for?
Strengths. Weaknesses. Opportunities. Threats.
What is the liquidity – current ratio?
(current assets ÷ current liabilities)
Key Influences
Who are the key stakeholders for businesses? MUST GET AT LEAST 4.
Corporate social responsibility (CSR) is.......
Open and accountable business actions based on respect for people, community/society and the broader environment
Operations processes can be defined as..........
transformation and value adding through the use of facilities and human resources
Factors influencing customer choice......
psychological, sociocultural, economic, government
What is the gross profit ratio?
(gross profit ÷ sales)
What is a subsidiary?
a company that is owned by another company (referred to as the parent) and it is often located in another country
Who is McDonald's major delivery/logistics partner?
Martin Brower Australia
Standardisation refers to the......
making of products that are homogeneous or identical
What consumer laws influence marketing?
External sources of finance- What are long-term sources of finance? (borrowing)
Mortgage, debentures, unsecured notes, leasing
What are monetary rewards?
Monetary rewards those rewards reflected in pay or having financial value. For example, direct rewards: Base pay. Incentive pay (bonuses/commissions). Allowances. Pay increases. Share plans. Profit sharing. Gainsharing
Approximately how many McDonald’s restaurants currently operate in Australia?
1000
Product differentiation.....
distinguishing products (goods or services) in some way from those of competitors
What is customer choice (buying behaviour)?
The decisions and actions of customers when they search for, evaluate, select and purchase goods and services
External sources of finance- What are short-term sources of finance? (borrowing)
Overdraft, commercial bills, factoring
What steps are taken during a typical dispute resolution process? MUST GET AT LEAST 4.
Listening to staff, negotiation, mediation, grievance procedures, involvement of courts and tribunals
Approximately how many McDonald’s restaurants are there worldwide?
Trading in over 100 counties, around 42,000.
Define the term ‘good/service differentiation’.
Refers to the process of distinguishing a product (good or service) from competitors in order to gain a competitive advantage in the market.
Define puffery.....
Exaggerated claims used for promotional purposes, that no reasonable person would take as factual
What are the objectives of financial management?
- profitability, growth, efficiency, liquidity, solvency
- short-term and long-term
Name the strategies in human resource management.... YOU MUST GET AT LEAST 4.
- leadership style/job design – general or specific tasks/recruitment/training and development/performance management/rewards/global/workplace disputes
What is the "triple bottom line?”
It is a business concept used to describe the responsibility businesses have to people, planet and profit