Finance Ratios
The accounting equation
Assets = Liabilities + Owner's equity
Overdraft, Commercial Bills, Factoring
Marketing Objectives (3)
Increase market share, competitive advantage, brand awareness
Strategic role of HR
Improve productivity by focusing on developing workforce
Types of Quality Management.
Quality Control, Quality Assurance, Total Quality Management
The Current Ratio
Current Assets over Current Liabilities
Long-term Borrowing Finance (4)
Marketing Approaches (3)
Production Approach (1820s), Selling Approach (1920s) Marketing Approach (1960s)
Law that covers health and safety in the workplace in NSW
The Work Health and Safety Act 2011
Purpose of Globalisation in Operations.
Accessing, reaching new markets/their influence on operations, franchising and importing
How do you find gross profit on an income statement?
Gross Profit = Revenue - COGS
Influences on Marketing (4)
Psychological, Sociocultural, Economical, Government
Law that protects workers from harassment, bullying and discrimination in NSW
Anti-Discrimination Act 1997
List and Define the 4 V’s.
Variety - Range of products made
Variation in demand - Amount of produce desired by customers by predicting demand/seasonal and Visibility- amount of transformation process seen by consumer (customer contact)
Volume - Quantity of a product made within the Operations process
What is the debt-to-equity ratio and should it ideally be high or low?
Explains how much debt the business has compared to its equity, should be low
Limitations of Financial Reports (3)
Normalised Earnings, Capitalising Expenses, Timing Issues, Valuing Assets, Debt Repayment Issues, Notes to Financial Statements
Laws relating to marketing and organisations they're enforced by
Australian Consumer Law (2011), Competition and Consumer Act (2010)
ACCC ASIC
The Four Processes of HR (order)
Acquisition
Development
Maintenance
Separation
Four Transformation Processes
The Four V's (Influences) and Sequencing and Scheduling (don't forget inputs and outputs), Task Deisgn and Layout etc.
What Finance Ratios should be less?
Expense Ratio and Accounts Recievable Turnover Ratio
Methods of International Payment (4)
Payment in Advance, Letter of Credit, Bill of Exhange, Clean Payment, Documents Against Payment, Documents Against Acceptance
Strategies for marketing for globalisation (3) and pricing strategies in general (4)
Standardisation, Customisation and Global Branding
Price Penetration, Price Skimming, Price Points, Loss Leader
Ways to resolve conflict (order of severity)
Negotiation
Mediation
Conciliation
Arbitration
Why might a business be resistant to meeting CSR
Primarily due to high financial costs and the pressure to maximise short-term profits.