TYPES OF BUSINESSES
ONE OWNER, SINGLE LEGAL ENTITY AND UNLIMITED LIABILITY.
DESCRIBE A SOLE TRADER/CHARACTERISTICS OF.
Human Resource Management
What does HRM stand for?
Inputs, processes and outputs.
List the three elements of an Operations System.
HOW MANY BUSINESS OBJECTIVES ARE THERE IN OUR COURSE?
40 or 50 marks out of 75.
1 - 50 SHAREHOLDERS/OWNERS, SHARES ISSUED THROUGH INVITATION ONLY, LIMITED LIABILITY
OUTLINE THE (CHARACTERISTICS OF) A PRIVATE LIMITED COMPANY.
Maintaining the relationship, from establishment and maintenance through to termination, between employees and the business.
What is HRM responsible for?
List three characteristics of a manufacturing business.
THIS OBJECTIVE IS CENTRAL TO MOST BUSINESSES.
WHAT IS A TO MAKE A PROFIT?
Define topic, provide example, link to case study
What does the task word “explain” require?
AUSTRALIA POST, NBN CO, VIC ROADS.
WHAT ARE SOME CONTEMPORARY EXAMPLES OF GOVERNMENT BUSINESS ENTERPRISES?
Providing satisfactory pay for survival.
What is a way that HRM can satisfy physiological needs?
Both seek to produce outputs that satisfy the needs of customers however manufactured are homogenous goods and service goods are not.
Compare manufacturing with service operations.
INCREASE REVENUES OR DECREASE EXPENSES (COST CUTTING).
WHAT ARE THE TWO WAYS TO IMPROVE NET PROFIT?
2 hours and 15 minutes
how long is the bus. man exam?
FULFILLING A SOCIAL NEED.
WHAT IS THE PRIMARY OBJECTIVE OF A SOCIAL ENTERPRISE?
Lawrence and Nohria.
Who developed the four-drive theory?
automated production lines, robotics, CAD, CAM, AI and online services.
List all the tech strategies in operations.
Ways the business tries to attempt to achieve its objectives
WHAT ARE STRATEGIES?
10 marks
How many marks is the biggest exam q worth?
THE MAJORITY WILL BE REINVESTED BACK INTO THE BUS. OR DISTRIBUTED TO MEET A NEED.
WHAT HAPPENS WITH THE PROFITS OF A SOCIAL ENTERPRISE?
Self esteem needs.
What is the fourth tier of Maslow's Hierarchy?
ISO 9001
What is an example of a quality assurance service provider?
Specific measures or data sets that allows a business to evaluate their success in terms of E + E.
WHAT ARE KPIs?
2013
What year did the class of '25 start school?
EXPENSIVE AND COMPLEX TO ESTABLISH, REPORTING REQUIREMENTS, NO CONTROL OVER WHO OWNS.
WHAT ARE THE DISADVANTAGES OF A PUBLIC LISTED COMPANY?
Positive work relationships are more likely to be maintained yet the decision may not be legally binding.
Discuss mediation as a method of dispute resolution.
Pull, Takt, One-piece flow
What are some strategies for implementing lean management?
The number of employees permanently leaving a business who are then replaced.
What is staff turnover?
Run through each questions, look at the case study in section B, plan longer responses
What is reading time for?
LIMITED LIABILITY, MAINTAIN CONTROL OVER WHO OWNS, SHARES CANNOT BE PUBLICLY (FREELY) TRADED, COST OF FORMATION (COMPARED TO SOLE TR. AND PART.).
DISCUSS THE DECISION TO OPERATE AS A PRIVATE LIMITED COMPANY.
Similarity is to pay out wages owed. Difference is the need for redundancy payment.
Compare entitlement considerations for resignation with redundancy.
Improved rep, reduction of costs (esp long term) however expensive and time-consuming.
Discuss the CSR considerations of Operations Management.
BEST USE OF RESOURCES BY USING UP-TO-DATE TECH, INNOVATIVE PROCESSES, HIGHLY SKILLED & MOTIVATED EMPLOYEES.
WHAT ARE WAYS TO IMPROVE EFFICIENCY?
No more than 20 minutes