Unit 1
PU's written document detailing how it sets out to achieve its objectives and the strategies to achieve these goals was originally based on an expected increase in student numbers in 2021/22.
What is business plan?
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?
Given Adriana's priority of maintaining aggressive marketing strategies and the need to use its marketing budgets most effectively. PU will have undertaken the process of formulating appropriate strategies and preparing marketing activities to meet its marketing objectives.
What is marketing planning?
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?
The extent to which a product is fit for its purpose, i.e., whether it meets (or exceeds) the expectations and the needs or wants of the customer.
What is quality?
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?
One of the six key concepts in business management recognises that competition, new technologies and markets, and trends in consumer behaviour lead business organizations to adapt their objectives, strategies and operations.
What is change?
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 could leverage these types of platforms.
What are social media platforms?
Adriana and the trustees worked hard to reduce the impact of the problems and, thanks to excellent work from the university employees, the impact on student learning was minimized. It can be inferred from the way PU managed the impacts of the catastrophic accident that PU had prepared the immediate steps to be taken in the event of a crisis or emergency.
What is contingency planning?
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?
A type of organizational structure consisting of the professional core, the contractual fringe, and a flexible labor force might appeal to a university like PU as it undertakes workforce planning in response to evolving external environment.
What is Handy's shamrock organisation?
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?
The promotion emphasized PU’s achievements both in research and teaching, its services for students, its high levels of student satisfaction and its competitive fees. It is a form of promotion that is undertaken by a business by paying for communication with consumers rather than focusing on short-term incentives to purchase.
What is above-the-line promotion?
When a nearby chemical plant exploded in September 2021 damaging and contaminating lecture theatres and student accommodations, steps were taken by the organisation to limit the damage from a crisis by handling, retaining and resolving it.
What is crisis management?