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?
Many of the lecturers had inadequate IT skills to prepare and deliver high-quality online courses
The university should have offered: ..... the process of teaching a particular new skill or knowledge in order to develop a person’s competence in the workplace. The purpose is to match the skills of employees with the needs of the organization
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?
This is an offensive strategy that uses provocative tactics to generate a response from your audience. It often involves marketing warfare tactics, where one brand will attack or parody another in order to generate buzz and draw attention to itself.
What is aggressive marketing?
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.
Tip: John Elkington
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?
Peacewick university has an interesting approach to pricing. International students pay higher fees to the university than the fees that the university receives from local students.
What Is Price Discrimination?
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 Job 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?
Part of the recovery was investing in a particular type of research including testing and experiments.
The Faculty of Medicine’s research into medicines is proving positive following testing on the public. Financial support from pharmaceutical companies could result in commercial production of the medicines, once approved.
What is primary research?
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.
To continue the momentum, Adriana could consider applying the following operations method in its research and testing facilities:
All material inputs in the operations method must be either technical (recyclable or reusable with no loss of quality) or biological (consumable or compostable in an ecologically friendly way). It can be time consuming and expensive to implement effectively.
What is Cradle-to-cradle (C2C)?
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?
The successes of some of the research projects suggest further growth and investment in those areas of the university’s activities.
The government and some computer manufacturers helped provide IT equipment for students and employees through this form of external finance.
What are government grants?
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?
Market leaders often use R&D expenditure as a barrier to entry so that they can continue to dominate the industry. For Peacewick some of the advantages are...
What are
- enhance a firm's corporate image, e.g. brand perception as an innovator
- gives the university a competitive advantage and help to attract funding and industry partners
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?
Peacewick university suffered from declining enrollment and consequently had cash-flow problems. How can a business calculate its closing balance?
What is opening balance + net cash flow?
Refurbishment of the teaching and learning facilities is connected to which element of the marketing mix?
What is the physical environment?
Explain why crisis management and contingency planning was so important to Adriana.
What are
- Business continuity was important
- the government and other industry partners provided contingency and emergency financial aid
- it helps to manage the crisis and minimize losses