Marketing
- Product Concept
- Market Concept
List. 2 purposes of accounting
Plan future activities
Comply with law
List the three types of management
upper management, middle management, lower management
How do we protect our money
holographic stripe, watermark portrait, see through numbers, security thread
What is the bank act
Outlines the rules and regulations that banks have
to follow
What are the 4 p's of marketing
Product, Price, Place, Promotion
What is accounting?
Process of recording, analyzing and
interpreting the economic activities of a
business
List the management styles
Authoritarian, Visionary, Democratic, Laissez-Faire
What is a legal tender?
Coins (minted or the Royal Canadian Mint –
Ottawa and Winnipeg)
Bills (uses two privately owned printing
companies)
List the three goals of the bank act
protecting depositors' funds, insuring the maintenance of cash reserves,
and promoting the efficiency of the financial
system through competition.
What do the two C's of marketing mean?
Competitive- Indirect market, direct competition
Consumer- Lifestyle, Demographic
What is a transaction
occurs when something that
has value is exchanged fo something else that
has value
Explain Democratic management
This style is based on the philosophy that two heads are better than one and that everyone deserves to have a say, no matter what their position or title.
represents changes in prices
as experienced by Canadian consumers. It measures price
change by comparing, through time, the cost of a fixed basket
of goods and services.
owned by Canadian shareholders
- shares are traded on the major Canadian
stock exchanges
- Canada has 19 schedule 1 banks
Define and give an example of market share
The portion of a market controlled by a particular company or product.
if a company sold $100 million in tractors last year domestically, and the total amount of tractors sold in the U.S. was $200 million, the company's U.S. market share for tractors would be 50%
Explain double entry bookeeping
based on the principle that each
transaction involves two changes
List the four functions of management
planning, organizing, leading, controlling
What is gross income
Gross income is what you earn before any
deductions.
Whats a credit union
Are organized and owned by groups of people
who agree to pool and share their resources
What is the most important way to measure the
impact of marketing?
Interest in the product
Increase in sales
List the 5 steps of preparing a balance sheet
Fill in statement heading, list the assets, list the liabilities, calculate owners equity, put it all together
Explain the four functions of management
Planning- process of setting realistic goals
Organizing- Arranging people and tasks to carry out the business's plan
Leading- focusing employees on achieving objectives and motivate their staff to accomplish these objectives
Controlling- Method managers use to increase, maintain or decrease the resources they are allocated
What is left over is discretionary income
You can spend it on anything you want –
vacations, eating out etc.
What Is Caisse Populaire?
Caisse populaire describes a cooperative,
member-owned financial institution that
fulfills traditional banking roles, in addition to
providing lending, insurance, and investment
services.