Operations
Finance
HR
Marketing
Definitions
100

Which company does Apple outsource some of its operations too? 

Foxconn
100
Name the objectives of financial management

PLEGS - profitability, liquidity, efficiency, growth, solvency 

100

Define 'contractors' 

an external provider of services to a business 

100

List the 6 different types of markets 

resource, industrial, intermediate, consumer, mass, niche

100

Accounting equation

A = L + OE

200

Strategic role of Operations

Cost leadership and good/service differentiation

200

Name all 4 'categories' of influences 

sources of finance, financial institutions, influence of gov, global market influences 

200

The HR Process

Acquisition, Development, Maintenance, Separation 

200

What is the aim of the Competition and Consumer Act 2010? 

To protect consumers against undesirable business practices and prohibit various unfair (restrictive) business practices.

200

Employer association

an organisation that represents and assists employer groups. They are usually respondents to the awards covering the employees of their members, and covering employers in the same or related industry.

300

List all of the influences of Operations

globalisation, technology, quality expectations, cost based competition, gov polives and legal regulations, enviro sustainability, CSR 

300

List 3 limitations of financial reporting and 2 ethical issues related to financial reports 

Limitations: normalised earnings, capitalising expenses, valuing assets, timing issues, debt repayments, notes to the financial statement 

Ethical issues: audited accounts, record keeping, reporting practices 

300

List all of the HR influences 

stakeholders, legal influences (employment contract, WH&S, antidiscrimination), economic, social, technology, ethical 

300

What is SMEIDI?

Situational analysis, Market research, Establishing market objectives, Identifying target markets, Developing market strategies, Implementation, monitoring and controlling 

300

Foreign exchange market (Forex)

a market that determines the price of one currency relative to another

400

Name 4 Operation Strategies

Performance objectives (quality, flexibility, speed, customisation, dependability, cost), new product or service design and development, supply chain management, outsourcing, technology (leading edge and established), inventory management, quality management, overcoming resistance to change, global factors

400

List the cash flow management strategies AND the working capital strategies 

Cash flow: cash flow statements, distribution of payments, discounts for early payment, factoring 

Working capital management: control of current assets, control of current liabilities, leasing, sale and lease back 

400

List 3 strategies for HR 

Leadership styles, job design, recruitment and selection process, training and development, performance management, rewards, global strategies, workplace disputes

400

What are the 7Ps? 

Place, price, promotion, product, people, physical evidence, processes

400

Opinion leader

a person who influences others

500

Name the 12 Transformation Processes 

4 V's (volume, variety, variation in demand, visibility), sequencing, scheduling, technology, task design, process layout, monitoring, controlling, improving 

500

If I wanted to analyse my business' efficiency, which ratios would
I be using? 

Double points for writing down the correct formula on the board. 

expense ratio (total expenses/sales) and accounts receivables ratio (sales/accounts receivable. 365/X)

500

List the 7 indicators that measure the effectiveness of HRM 

corporate culture, benchmarking key variables, changes in staff turnover, absenteeism, accidents, levels of disputation, worker satisfaction 

500

List the 5 global marketing strategies 

global branding, standardisation, customisation, global pricing, competitive positioning

500

Remuneration 

The financial (e.g. pay) and non-financial (e.g. career security) benefits that employees receive in return for their work effort

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