Operations
Quality management strategy that relies on continuous improvement is all business aspects.
What is Total Quality Management (TQM)?
Form of debt financing which involves a business selling its accounts receivable to a firm that specialises in collecting unpaid accounts.
What is Factoring?
Market that involves the purchasing of goods/services that go into the production of other products.
What is an Industrial Market?
A government organisation that is in place to prevent/settle industrial disputes between employees and employers.
What is the Fair Work Commission?
Relate cause and effect; make the relationship between things evident; provide why and/or how
What is Explain?
Aiming to be the lowest-cost manufacturer in it's industry
What is Cost Leadership?
External source of finance which has current shareholders granted a chance to purchase more stock in a company.
What is a Rights Issue?
Category for distribution that allows for products to be available at a wide range of locations.
What is Intensive distribution?
Term used to define when employees are no longer needed due to downsizing/closing/outsourcing.
What is Retrenchment?
Identify issues and provide points for and/or against
What is Discuss?
Performance objective that focuses on the consistency and reliability of products produced.
What is Dependability?
The ability to pay current liabilities as they fall due.
What is Liquidity?
Being forced to pay a higher price for a product that is identical to another retailers.
What is Price Discrimination?
Act of two disputing parties voicing their concerns as a Fair Work Commissioner makes an unbiased, legally-binding judgement.
What is Arbitration?
Identify components and the relationship between them; draw out and relate implications
What is Analyse?
A sequencing and scheduling tool that is used to analyse, plan, and schedule large, complex projects. It is used to determine a project’s critical path—the longest sequence of tasks that must be finished for the entire project to be complete.
What is critical path analysis?
This statutory body enforces the Corporations Act 2001, regulates corporations in Australia and enforces penalties on illegal financial practices.
What is the ASIC?
Information sourced for a specific purpose. E.g. surveys, observations and experiments.
What is Primary Market Research?
Act of legislation that prohibits discrimination in the workplace based on ethnicity.
What is the Racial Discrimination Act 1984 (Cth)?
Make a judgement based in criteria;
determine the value of
Term used to refer to the reduction of COGS due to the larger size of the business as production costs are spread over more units.
What are Economies of Scale?
What is a Super Fund?
Factor that influences choice through family, religion, culture and values.
What is Sociocultural?
Is the continuing commitment by companies to behave ethically and contribute to economic development, while improving the quality of life of stakeholders.
What is a Corporate Social Responsibility?
Make a judgement of value, quality, outcomes, results or size
What is Assess?