Directive terms
What is describe?
A small market that sells to a small part of the total customers.
What is a niche market?
What is development?
The amount of profit that is reinvested back into the business.
What is retained profit?
What is cost leadership?
Sketch in general terms
What is outline?
This term describes the process by which a consumer’s attitudes or behaviour are influenced by the actions, opinions, or examples of others, often seen in social media and word-of-mouth marketing.
What is a sociocultural influence?
The type of separation that can be both voluntary or involuntary.
What is redundancy?
The financial objective where the business has sufficient current assets to pay for current liabilities.
What is liquidity?
The shortest time to complete all activities.
What is the critical path analysis?
Show cause and effect or show relationship between
What is explain?
This marketing strategy focuses on creating emotional connections with consumers, often leveraging celebrity endorsements to drive product credibility and appeal.
What is opinion leaders?
The indicator that measures the number of staff that leave the organisation.
What is staff turnover?
The law that ensures that companies comply with the financial regulations.
What is the Corporations Act 2001?
Materials, Customers and Information.
What are transformed resources?
Show relationship between components and draw out implications
What is analyse?
This pricing method involves determining the cost to produce a product and then adding a fixed percentage as profit to arrive at the selling price.
What is cost based pricing?
The influence that has led to businesses offering more flexible working conditions.
What is the social influence?
A business has added the transportation costs of a new piece of equipment to the purchase price when valuing the asset in the Balance Sheet. This is an example of what limitations of financial statements.
What is capitalised expenses?
Buying cheaper raw materials from overseas to decrease costs.
What is global sourcing?
Provide points for and/or against
What is discuss?
This Australian law protects consumers by prohibiting misleading or deceptive conduct in trade or commerce.
What is Competition and Consumer Act 2010
Before an Enterprise Agreement can be approved by Fair Work Commission it must meet the requirement that the employees cannot be any worse off under this agreement in comparison to the Modern Award.
What is the BOOT (Better Off Overall Test) test?
The international payment method that is the least risky for importers.
What is clean payment?
The operations strategy that involves checking random samples before, during and after the transformation process.
What is quality control?
Make a judgement based on criteria
What is evaluate?
Under Australian Consumer Law, consumers are entitled to this type of compensation if a product fails to meet guarantees of acceptable quality, fit for purpose, or matching description.
What is refund or replacement?
The state of the economy where the demand for labour is increasing and may eventually lead to shortages of labour.
What is a boom?
Debt servicing cost.
What is interest?
A business that sells fresh milk to supermarket would use this inventory valuation method.
What is FIFO?
Inquire into
What is examine?
The marketing approach that is used by a business that focuses on promoting the product.
What is the selling approach?
Steve Job's Leadership Style
What is pace setting leadership?
The financial objective a business is trying to achieve when a business changes their global pricing strategy to price penetration.
What is profitability?
What is LIFO?