Unit 1
An advantage of this form of business is that it qualifies for government grants and subsidies.
What is "Peacewick University" a not-for-profit business?
Line 32: Many of the lecturers had inadequate IT skills to prepare and deliver high-quality online courses
The university should have offered this.
What is training?
Peacewick University has to pay these costs even though there are no classes at the moment at the physical campus.
What are fixed costs?
Using these paid media outlets (TV, radio, print) and internet marketing outlets (social media), PU emphasized its achievements and increased student interest
What are above-the-line and below-the-line promotions?
Line 121: Fewer employees and students at the university have led to significantly lower energy consumption; it also means less waste, less use of water, less pollution, and a reduction in PU’s carbon footprint.
It is this type of sustainability.
What is ecological sustainability?
International students dropped out and some students demanded compensation. Overall, business activities contracted during this external economic factor
What is an economic recession?
Peacewick University had a very challenging year. To solve its cash-flow problems the university used a certain HR strategy likely with the results of creating low staff morale.
What is redundancy?
Peacewick university offers education services to national and international students. Both target markets pay different tuition fees. Therefore, the University creates with its differentiated selling prices the term we are looking for.
What are revenue streams?
Line 54: International students pay higher fees to the university than the fees that the university receives from local students.
It is this type of pricing strategy.
What Is Price Discrimination?
Line 65: By January 2022, the standard of teaching at PU nearly returned to its earlier high quality, although in a different format. Much of the teaching remained online, which enabled lecturers to meet smaller groups of students face to face.
This is a form of production.
What is batch production?
Peacewick University wants to open another campus in country A. This is a form of growth strategy where a business sells its existing products into new markets
What is "Market Development"?
Due to the chemical accident and destruction of buildings, the university had to offer a new type of work utilizing advancements in telecommunications and internet technologies.
What is Teleworking?
Opening another campus is a form of spending on likely fixed assets including IT equipment, research facilities and buildings. This form is also commonly known as investment expenditure.
What is Capital expenditure?
Line 72: The Faculty of Medicine's research into medicines that is proving positive following testing on the public.
It is this type of research.
What is primary research?
Line 26: all on-site teaching stopped for two months while some very limited classroom accommodation was found elsewhere in the city and on a separate campus
This is the reaction to an unexpected event. (HL)
In September 2021 there was a catastrophic accident at a nearby chemical plant. The impact on the surrounding area was severe. The explosion caused a large amount of damage to nearby buildings, including to student accommodation, lecture theatres and other university buildings. In addition, part of the teaching campus was contaminated by harmful chemicals.
What are external environmental factors?
Staff turnover in the Faculty of History is high. We don't have much information except that the manager uses a persistent pattern of mistreatment from others in the workplace that causes either physical or emotional harm. It can include such tactics as verbal, nonverbal, psychological, and physical abuse, as well as humiliation.
What is workplace bullying?
Line 81: The government and some computer manufacturers helped provide IT equipment for students and employees
It is this type of external source of finance
What are government grants?
Line 77: As 2021/22 progressed, evidence indicated that PU’s marketing was increasing student interest for the next academic year. However, applications for student places at PU remained low.
To connect with prospective students, colleges and universities need to leverage these type of platforms.
What are social media platforms?
Line 42: the Faculty of Medicine received a large amount of funding from the government
This is the purpose of the funding
What is research and development (R&D)?
The university has an emphasis on meeting the needs of 21st-century society, so it has strong IT, business, electronics, medicine, engineering and media faculties.
What is a market-orientated business?
Jim now expects members of his department to do as they are told, and he rarely consults anyone. A disadvantage of this leadership style :
Stifles initiative and creativity as employees are not involved in decision making
What is autocratic leadership?
Line 57: Faced with a major cash-flow problem, PU had to find ways to reduce outflows.
This is how to calculate PU's closing cash-flow balance.
What is opening balance + net cash flow?
Line 146: Research suggests that the number of students studying history and international languages has decreased in the last few years, and this trend is likely to continue.
The subjects are in this phase of the product life cycle
Line 26: all on-site teaching stopped for two months while some very limited classroom accommodation was found elsewhere in the city and on a separate campus
This is the preparation for an unexpected event. (HL)
What is contingency planning?