Unit 1 & 2. Intro & HR
[1.3] An activity must be done by all corporations to support social and environmental cause or the interests of the society.
What is Corporate Social Responsibility (CSR)?
[3.3] Costs that are not easily identifiable or cannot explicitly be associated with the output of a specific good or service.
What are indirect costs or overheads?
[4.1] An approach to marketing that focuses on meeting the specific demands (desires and needs) of customers and potential customers.
What is market orientation?
[5.1] The rate at which inputs are transformed into outputs.
What is productivity?
[Ansoff Matrix] Entering new market with a new product.
What is diversification strategy in Ansoff Matrix?
[2.4] Job enrichment, enlargement, rotation, teamwork.
What are the examples of non-financial rewards?
[3.4] A type of intangible assets that gives the owner exclusive commercial use of the registered brands, logos, and/or slogans (catchphrases).
What is a trademark?
[4.4] Consist of closed questions that have finite numbers of answers or measurable answers.
What are quantitative questions/data?
[5.7] Proactive measures to prepare how to deal with a crisis to ensure continuity of the business.
What is contingency planning?
[SWOT] Strengths and Weaknesses
What are the internal factors in SWOT analysis?
[2.7] Conciliation & Arbitration, Industrial Democracy, No-Strike Agreement, Single Union Agreement.
What are the approaches to conflict resolution methods?
[3.2] Overdraft, microfinancing, trade credit.
What are the examples of debt-based sources of finance?
[4.2] The process of dividing a market for a product into smaller or distinct groups of customers in an effort to meet their specific desired needs and wants.
What is market segmentation?
[5.2] Producing at very large quantity, with almost no product variation, usually resulting in low variable costs, mostly for the lower end of the market.
What are the characteristics of mass/line/flow production method?
[Decision Tree] Expected Revenue minus all the costs.
What is Expected Value (EV) or expected profit?
[1.6] Possible to become a threat to local competitors, exploitation of local workers, increase pollutions, possible reduction of cultural identity.
What are the possible negative impacts of MNCs on the host countries?
[3.5] Ability of a firm to payback its current liabilities with its current assets, without using inventory.
What is Acid Test/Quick Ratio?
[4.2] Makes the product or brand stand out from the competition in the market; can lead to greater customer loyalty as customers identify something distinctive; add value for customers and are difficult for rivals to copy.
What are the benefits of having Unique Selling Propositions?
[5.6] Having a high proportion of FC compared to VC, leading to higher gain when sales increases but higher risk when sales drops.
What are the impacts of having a high degree of operating leverage?
[BCG Matrix] Either invest and grow it to become a star, or divest before it becomes a dog.
What to do with a problem child/question mark?
[1.5] Want to control quality and consistency, have a healthy working relationships, maintain direct communications with customers, avoid additional costs and logistics, etc.
Why do some businesses want to remain small?
[3.7] The available cash is not optimized for gain, or having too much debtors, or overstocking/having too much inventory.
What does it mean by having too much working capital?
Also accepted: What are the reasons current ratio can be too high?
[4.4] Sample size is too small, respondents are not representative, inappropriate sampling method, bias in research, etc.
What are the factors that can increase sampling error?
[5.3] An approach to design and manufacturing where products are made to be endlessly reused, aiming to eliminate waste by designing materials to cycle as either "biological nutrients" (compostable) or "technical nutrients" (high-quality recycled materials), mimicking nature's nutrient cycles.
What is Cradle-to-Cradle?
[Descriptive Statistics] A measure of variability around the median value in the data (the difference between the 75th percentile and the 25th percentile of a dataset).
What is Interquartile Range (IQR)?