Operations
The business processes that involves transformation / production
Operations
Define marketing?
a system of interacting activities designed to plan, price, promote and distribute products to present and potential customers.
The 5 objectives of financial management
Profitability
Growth
Efficiency
Liquidity
Solvency
A third party specialist is contracted to perform a business function within a business is known as
What is outsourcing
Selling a product at or below its cost price to attract customers into the store is the definition of which marketing (price) strategy
The creation of added value in the production process
Value adding
Give 3/4 examples of Consumer laws
Deceptive and misleading advertising, price discrimination, implied conditions, warranties
The sources of finance available to a business
Internal - retained profits
External - debt or equity
Order of the 4 HRM processes
acquisition
development
maintenance
separation
LIFO
FIFO
JIT
Are examples of which operations strategy?
What is inventory management
Name 4/8 influences on operations
Globalisation
Technology
Quality expectations
Cost-based competition
Government policies
Legal regulation
Environmental sustainability
Corporate Social Responsibility
Investigating and studying interested buyers is the definition of what?
What is market research
Name the four types of shares shares offered as equity finance
New issues
rights issues
placements
share purchase plans
What are the 7 indicators of HRM?
BADCATS
– corporate culture
– benchmarking key variables
– changes in staff turnover
– absenteeism
– accidents
– levels of disputation
– worker satisfaction
The number, kind and variety of tasks a worker is expected to carry out is referred to as what in the HRM syllabus?
What is job design
The 3 main stages of the operations process
Inputs
Transformation processes
Outputs
The 5 aspects of the global marketing strategy
Global branding
Standardisation
Customisation
Global pricing
Competitive positioning
What are the three components of the global market influence on finance?
Global economic outlook
availability of funds
interest rates
What is the order of workplace dispute resolution?
Grievance procedures
1. negotiation
2. mediation
3. conciliation
4. arbitration
Name 4 types of debt financing
MUDL
mortgage
unsecured note
debenture
leasing
Name 6/ 9 operations strategies a business can apply to achieve their goals
Performance objectives
New product or service design and development
Supply chain management
Outsourcing
Technology — leading edge, established
Inventory management
Quality management
Overcoming resistance to change
Global factors
What are the 6 steps (in order) in the marketing process
1. Situation analysis
2. Market Research
3. Establish Objectives
4. Identify target market
5. Develop marketing strategies
6. Implement, monitor and control
The 4 methods of long term borrowing are:
Mortgage
debentures
Unsecured notes
Leasing
Legal influences:
A) what is the three types of the employment contract?
b) what TWO other laws influence HR?
a) awards, enterprise agreements, other employment standards
b) WHS/ workers compensation& anti-discrimination
Control of current assets/ current liabilities and sale and lease back come from:
a) which topic
b) which syllabus area (RIPS)
c) name the dot point
Finance
Strategies
Working capital management