Unit 1+2
What is a intrapreneur
Acts like an entrepreneur within the business, creating a new business or venture within an organisation
What is held in inventory
Properties, finished goods, semi-finished goods, raw materials
what is working capital
The money needed to pay for raw materials, day to day running costs, such as the employees, credit offered to customers
How many dogs did Maya have?
13
How many weeks are in a year
52 Weeks
What is employee welfare?
Employee's health, saftey and level of morale when at work
Define Mass Market
Selling the same products to the whole market with no attempt to target groups within it
How to calculate break even
Fixed Cost / Sales price per unit - Variable cost per unit
What is a fun fact about Sherif Nagys eyelashes?
They are different colors
how many countries in the world
195
Name 5 business types
Sole Trader, Partnership, Public/Private Limited Company, Co-Operatives, Franchise, Joint Venture, Social Enterprise, Family Owned Business,
Define market segment
A subgroup of a while market in which consumers have similar characteristics
unnessecary spending and focuses on short term and lack of flexibility
Who owns a gun?
Ahmed Kamal
When did Egypt gain independence from Great Britain
March 15, 1922
Name 4 Characteristics of an entrepreneur
Innovative, Commitment and self motivation, Multiskilled, Leadership skills, Self-Confidence, risk taker, hard worker, passionate, focused, flexible, creative
What is outsourcing
Using an outside agency to carry out some business functions and when a business contracts out activity to a third party
disadvantages of using contribution cost
Existing customers may realise lower prices are being offered to new customers and demand a similar price
When high prices are a key feature in establishing the exclusivity of a brand - offering lower prices could destroy brand image
Where there is no excess capacity
In some circumstances, lower-priced goods or services may be resold into the higher priced market by customers themselves
Where did Salma live for 4 years?
Nigeria
how many eyes does a bee have
five
What is the Expectancy theory? (Vroom)
Individuals will choose to behave in ways they believe will lead to outcomes they value and that there is a positive link between effort and performance, to motivate employees managers need to convince workers that increased work effort will improve performance which will lead to rewards
Benefits of supply chain managment.
Supply only according to demand - avoid waste (aka lean production)
Achieving sustainability
Just-In-Time ordering inventories
Reduces costs at all stages of production - electronic tracking on all materials and products
Improved delivery and customer satisfaction
Departments linked for better coordination and communication
Management of information has increased - data available for senior teams to take decisions
What is Variance Analysis (double points)
Calculation of the differences between budgets and actual figures, and analysis of the reasons for such differences
Where did Miss Farida almost get arressted?
LA
what is julys birthstone
ruby