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Conor Horgan
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Decks in this class (143)
1.1a - Business Objectives
Mission definition,
Mission statement definition,
What does smart stand for
3
cards
1.1b - Costs
Variable costs definition,
Fixed costs definition,
Total costs formula
5
cards
1.1c - Revenue and Profit
Total revenue formula,
Profit formula
2
cards
1.2a - Sole Traders
Sole trader definition,
Advantages of sole traders,
Disadvantages of sole traders
3
cards
1.2b - Limited Companies
Who are the owners of limited com...,
Limited companies are separate le...,
Who can private limited companies...
15
cards
1.2c - Shareholding
How many shareholders can there b...,
How many shareholders can there b...,
What must happen in order for som...
15
cards
1.2d - Public and Private Sector
What businesses are in the privat...,
Why would a business be privatised,
What businesses are in the public...
8
cards
1.2e - Non-Profit Organisations
What is done with profit in non p...,
Charity definition,
Requirements to become a charity
12
cards
1.3a - Demand
What does pestle stand for,
How can the government encourage ...,
Costs and demand are inextricably...
5
cards
2.1a - Managers and Leaders
Who are more risk averse managers...,
Roles of managers,
What are the four main types of m...
8
cards
2.1b - Leadership Models
What did tannenbaum and schmidt do,
What are the axes on the t s cont...,
What are the styles of leadership...
7
cards
2.2a - Decision Making
Scientific decision making defini...,
Advantages of scientific decision...,
Disadvantages of scientific decis...
7
cards
2.2c - Opportunity Cost
Opportunity cost definition
1
cards
2.2d - Decision Trees
Decision tree definition,
Expected value formula,
Net gain formula
9
cards
2.3a - Stakeholder Perspectives
Examples of internal stakeholders,
Examples of external stakeholders,
What does mendelow stakeholder ma...
4
cards
2.3b - Communication
Advantages of effective communica...
1
cards
3.1a - Marketing Objectives
Marketing definition,
Examples of marketing objectives,
Brand definition
9
cards
3.2a - Primary Market Research
Market research definition,
Why would a business carry out ma...,
What is primary research also kno...
19
cards
3.2b - Secondary Market Research
Sources of secondary data,
Advantages of secondary data,
Disadvantages of secondary data
5
cards
3.2c - Analysing Market Data
Sales value formula,
Sales volume formula,
Sales growth formula
9
cards
3.2d - Sampling
Sampling definition,
Advantages of sampling,
Disadvantages of sampling
14
cards
3.2e - Extrapolation
What statistical techniques are u...,
Confidence intervals definition,
Factors that will influence a con...
7
cards
3.2f - Correlation
Correlation definition,
What is used to measure correlation,
What are the three types of corre...
4
cards
3.2g - Price Elasticity of Demand
Price elasticity of demand defini...,
Ped formula,
What does it mean if the ped 0
8
cards
3.2h - Price Elasticity of Demand (2)
What are the influences on the pe...,
Ways for a business to ensure tha...
2
cards
3.2i - Income Elasticity of Demand
Income elasticity of demand defin...,
Yed formula,
What type of product has a yed of...
8
cards
3.2j - Using Technology to Collect Marketing Data
Examples of technology businesses...
1
cards
3.2k - Collecting Data to Make Marketing Decisions
Marketing definition,
Advantages of marketing,
Disadvantages of marketing
4
cards
3.3a - Market Mapping
Market mapping definition,
Advantages of market mapping,
Disadvantages of market mapping
3
cards
3.3b - STP: Market Segmentation
What does stp stand for,
What does segmentation involve,
Market segment definition
4
cards
3.3c - STP: Market Segmentation (2)
Advantages of market segmentation,
Disadvantages of market segmentation
2
cards
3.3d - STP: Targeting and Positioning
Targeting definition,
What are the different approaches...,
What does concentrated marketing ...
14
cards
3.4a - The Marketing Mix
Marketing mix definition,
What are the seven ps,
What are the main influences on t...
13
cards
3.4b - New Product Development
What are the stages of new produc...,
Advantages of focusing on core pr...,
Advantages of product proliferation
4
cards
3.4c - Product (Boston Matrix)
Product portfolio definition,
Boston matrix definition,
Features of stars
12
cards
3.4d - Product Life Cycle
Product life cycle definition,
What can cause the product life c...,
How can the product life cycle be...
11
cards
3.4e - Pricing Decisions
Price maker leader definition,
Price taker definition,
Features of penetration pricing
14
cards
3.4f - Promotional Mix
Promotion definition,
Above the line promotion definition,
Examples of above the line promotion
22
cards
3.4g - Place
What are the factors that dictate...,
Where are the most appealing prod...,
Where are loss leader products pl...
10
cards
3.4h - The Extended Marketing Mix
Why has the extended marketing mi...,
Physical environment definition,
Process definition
4
cards
3.4i - Influences on an Integrated Marketing Mix
What are the different functions ...,
What are the influences on the ma...
2
cards
4.1a - Understanding Operational Objectives
Operations management definition,
Examples of operational objectives,
Unit cost formula
20
cards
4.2a - Unit Costs
What is unit cost also known as
1
cards
4.2b - Capacity
Capacity definition,
What does capacity depend on,
Capacity utilisation definition
12
cards
4.3a - Labour vs Capital
What are the four factors of prod...,
Labour intensive definition,
Capital intensive definition
7
cards
4.3b - Labour Productivity
Labour productivity definition,
Labour productivity formula,
How can a business improve labour...
18
cards
4.3c - Technology
Technology definition,
What are the main technologies th...,
What are the main uses of robots ...
13
cards
4.4a / 4.4b - Quality / Managing Quality
Advantages of greater quality,
Examples of quality objectives,
Quality management definition
17
cards
4.4c - Suppliers
Supplier definition,
Strategic working relationship de...,
How can a business build a strate...
9
cards
4.4d - Improving Flexibility
How can flexibility be improved,
What can a business do when deman...,
What are the different ways for a...
28
cards
4.4e - Inventory Control
Inventory control definition,
In what situations are low invent...,
Advantages of low inventory levels
12
cards
5.1a - Financial Objectives
Why does a business set financial...,
Examples of financial objectives,
How will a business try to reduce...
18
cards
5.2a - Contribution
Contribution definition,
Profit formulae,
Contribution per unit formula
4
cards
5.2b - Break Even
Break even point definition,
What are the three methods of cal...,
Break even point formula
10
cards
5.2d - Cash Flow
Cash flow forecasting definition,
Cash flow cycle definition,
What does the length of the cash ...
9
cards
5.2e - Working Capital
Working capital definition,
What does working capital cycle show,
Length of working capital cycle f...
7
cards
5.2f - Setting Budgets
Advantages of budgets,
Budget holder definition,
Zero based budgeting definition
14
cards
5.2g - Variance Analysis
Variance analysis definition,
Favourable variable analysis defi...,
What decisions can be made as a r...
8
cards
5.3a - Sources of Finance
Examples of internal sources of f...,
Examples of external sources of f...,
Short term finance definition
31
cards
5.4a - Improving Cash Flow
Why do businesses need profit in ...,
Why do businesses need profit in ...,
How can cash flow issues be improved
5
cards
5.4b - Analysing Profitability
What do income statements identify,
What are the components of an inc...,
Gross profit margin formula
7
cards
5.4c - Methods of Improving Profit
Why might a business struggle to ...,
What are the methods of improving...,
Advantages of increasing price to...
8
cards
5.5a - Making Financial Decisions
Management accounting definition,
Financial accounting definition
2
cards
5.5b - Internal/External Influences on Financial Objectives
Reasons why markets change rapidly
1
cards
6.1a - Understanding HR Objectives
Human resources management defini...,
Human resources definition,
Why have hrm become more importan...
14
cards
6.2a - Analysing HR Performance
Labour turnover definition,
Labour turnover formula,
Reasons staff leave
14
cards
6.3a - Organisational Design
Organisational design definition,
Delayering definition,
Advantages of delayering
31
cards
6.3b - HR Flow
Advantages of having a hr plan,
What are the internal influences ...,
What are the external influences ...
26
cards
6.4a - Motivational Theories
Motivation definition,
Advantages of a well motivated wo...,
What did frederick taylor believe in
16
cards
6.4b - Financial vs Non-Financial Rewards
How can a business improve employ...,
What are the different financial ...,
What are the different non financ...
29
cards
6.4c - Job Design
What are the organisational influ...,
What are the employee related inf...,
What does the hackman and oldham ...
8
cards
6.5a - Employer/Employee Relations
Why do businesses communicate wit...,
What are the barriers to communic...,
How can a business overcome barri...
24
cards
7.1a - Mission Statements
Corporate plan definition,
Mission statement definition,
What does a business mission depe...
8
cards
7.1b - SWOT
Swot analysis definition,
What does swot analysis look at,
External opportunities definition
5
cards
7.1c - Strategy
Business strategy definition,
Strategic decisions definition,
Features of strategic decisions
4
cards
7.2a - Balance Sheets
Balance sheet definition,
What can balance sheets be used t...,
Equity formula
23
cards
7.2b - Income Statements
Income statement,
What is the purpose of an income ...,
What is the order of parts of an ...
10
cards
7.2c - Assessing Financial Performance
How can financial information be ...,
Trend analysis definition,
What is a balance sheet designed ...
6
cards
7.2d - Ratios (ROCE)
Ratio analysis definition,
Return on capital employed defini...,
Why is important to compare roce ...
10
cards
7.2e - Ratios (Current Ratio)
What does current ratio measure,
Current ratio formula,
What does a current ratio of 15 2...
6
cards
7.2f - Ratios (Gearing)
What are the two main sources of ...,
Gearing definition,
Is lower or higher gearing better
9
cards
7.2g - Ratios (Efficiency)
What do financial efficiency rati...,
Payable days creditor days formula,
Payable days definition
13
cards
7.3a - Using Non-Financial Data to Analyse Performance
Performance metrics definition
1
cards
7.3b - Core Competences
Core competences definition,
What are the three ways of assess...
2
cards
7.3c - Assessing Short and Long-Term Performance
Short termism definition,
Advantages of taking a short term...,
Disadvantages of taking a short t...
5
cards
7.3d - Kaplan and Norton
Kaplan and norton balanced scorec...,
What are the aims of the k n bala...,
What are the perspectives of the ...
9
cards
7.3e - Elkington
Elkingtons triple bottom line def...,
Triple bottom line reporting defi...,
Advantages of elkingtons theory
4
cards
7.4a - Political and Legal (Scope and Effects of Competition Law)
Who is protected by legislation a...,
What are the main roles of busine...,
What is the aim of competition po...
15
cards
7.4b - Political and Legal (Scope and Effects of Labour Market Law)
What is the aim of employment law,
What are the characteristics prot...,
Direct discrimination definition
18
cards
7.4c - Political and Legal (Scope and Effects of Labour Market Law)
What are the costs of business on...,
What are the main environmental r...,
Who are the three main environmen...
10
cards
7.4d - Political and Legal (Enterprise)
Entrepreneur definition,
Enterprise definition,
What are the rewards for enterprise
5
cards
7.4e - Political and Legal (Regulation, Impact of Policy on Infrastructure and Trade)
Infrastructure definition,
How can infrastructure spending h...,
Where is the uk ranked in the wor...
16
cards
7.5a - Economy (Macroeconomics and the Business Cycle)
Microeconomics definition,
Macroeconomics definition,
Aggregate demand definition
21
cards
7.5b - Exchange Rates
Exchange rate definition,
What happens to a currencys value...,
What does the effect on a busines...
7
cards
7.5c - Inflation
Inflation definition,
How is inflation calculated,
Cost push inflation definition
13
cards
7.5d - Government Economic Policies
What are the key government econo...,
Monetary policy definition,
Fiscal policy definition
19
cards
7.5e - Economy (International Trade)
European union definition,
What does the eu allow free movem...,
Advantages to uk businesses of th...
24
cards
7.6a - The Social Environment (Ethics)
Social environment definition,
What is the social environment sp...,
Demographic issues affect which t...
23
cards
7.6b - The Social Environment (Environment and CSR)
Negative externalities external c...,
What can government intervention ...,
Pressure group definition
18
cards
7.6c - The Social Environment (Ethics)
Ethics definition,
What are the internal pressures t...,
What are the external pressures t...
7
cards
7.7 - Technology
What are the different types of t...,
Technological innovation can be s...,
Advantages of new technology
6
cards
7.8 - The Competitive Environment (Porter's Five Competitive Forces)
Advantages of competition,
Disadvantages of competition,
Porters five competitive forces d...
13
cards
7.9a - Investment Appraisal (Payback)
Investment definition,
Why would a business invest,
What approach to decision making ...
9
cards
7.9b - Making Investment Decisions (ARR)
Average rate of return definition,
What can arr be compared with,
Arr formula
7
cards
7.9c - Making Investment Decisions (NPV)
Net present value definition,
How will npv be calculated,
Discount rate formula
6
cards
7.9d - Making Investment Decisions (Qualitative Factors and Making Decisions)
What qualitative factors need to ...,
How can a business check if an in...,
Why are investments always uncertain
4
cards
8.1a - Ansoff Matrix
Ansoff matrix definition,
What are the four growth strategi...,
What does a market penetration st...
18
cards
8.2a - Porter's Generic Strategies
Competitive advantage definition,
What are the generic strategies s...,
Porters generic strategies defini...
15
cards
8.2b - Bowman's Strategic Clock
Bowmans strategic clock definition,
What are the eight positions on b...,
Features of low price and low add...
15
cards
8.2c - Competitive Advantage
Comparative advantage definition,
What can a business do with a com...,
Differential advantage definition
5
cards
9.1a - Growth and Retrenchment
Why would a business wish to grow,
Organic growth definition,
How is organic growth paid for
17
cards
9.1b - Mergers and Takeovers
Merger definition,
What happens to shareholder share...,
Takeover definition
13
cards
9.1c - Ventures
Corporate venturing definition,
What are the alternatives to corp...,
How do corporate ventures work
8
cards
9.1d - Franchising
Franchising definition,
Franchisee definition,
Franchisor definition
8
cards
9.1e - Economies of Scale
When do economies of scale arise,
Minimum efficient scale definition,
Internal economies of scale defin...
11
cards
9.1f - Diseconomies of Scale
Diseconomies of scale definition,
What are the different types of d...,
How can co ordination diseconomie...
8
cards
9.1g - Other Issues With Growth
Economies of scope definition,
Advantages of economies of scope,
What does the experience curve su...
12
cards
9.1h - Greiner's Growth Model
Greiners growth model definition,
What is the period between each c...,
What does each crisis produce
7
cards
9.2a - Innovation
Invention definition,
Innovation definition,
What does innovation include
15
cards
9.2b - Methods of Innovation
What are the different ways a bus...,
R d definition,
How does r d support innovation
16
cards
9.2c - Protecting an Innovation
How can a business increase the l...,
Intellectual property definition,
Patent definition
11
cards
9.3a - Internationalism
International market definition,
Advantages of expanding internati...,
How can a business choose the rig...
4
cards
9.3b - Off-shoring and Re-shoring
Disadvantages of manufacturing in...,
Off shoring definition,
Advantages of off shoring
7
cards
9.3c - Methods of Entering International Markets
What are the main methods that a ...,
Direct exporting definition,
Indirect exporting definition
15
cards
9.3d - Influences on Buying, Selling and Producing Abroad
Why would a firm buy products fro...,
How can a firm ensure success of ...,
Advantage of selling products abroad
28
cards
9.4a - Digital Technology (E-Commerce)
What can a business use digital t...,
M commerce definition,
Advantages of m commerce
5
cards
9.4b - The Impact of Commerce on Functional Areas
What is the impact of e commerce ...,
What is the impact of e commerce ...,
What is the impact of e commerce ...
7
cards
9.4c - Other Uses of Data Technology
Big data definition,
What are the four vs that big dat...,
How can big data be used
11
cards
9.4d - The Value of Digital Technology and its Impact on Functional Areas of a Business
Advantages of digital technology ...,
Disadvantages of digital technology
2
cards
10.1a - Causes and Pressures For Change
Change management definition,
What are the different types of c...,
What are the internal forces for ...
9
cards
10.1b - Lewin's Force Field Analysis
What are the four aspects of change,
Force field analysis definition
2
cards
10.1c - Flexible Organisations
Flexible organisation definition,
What structures can businesses pu...,
Advantages of being a flexible or...
13
cards
10.1d - Value of Knowledge and Information Management
Knowledge and information managem...,
Advantages of managing informatio...,
Examples of knowledge and informa...
3
cards
10.1e - Kotter and Schlesinger
What are the barriers to change,
What can limit the success of the...,
What forms can resistance take
11
cards
10.2a - What is Culture?
Culture definition,
Why may culture change over time,
What important functions does org...
4
cards
10.2b - Handy's Cultural Model
What did handy identify,
What is each culture suggested by...,
What are the types of organisatio...
11
cards
10.2c - Hofstede's Cultural Model
Hofstedes cultural model definition,
How did the hofstede cultural mod...,
What are the different dimensions...
11
cards
10.2d - Influences on Culture
What are the influences on a cult...,
Power structure definition,
Disadvantages of changing culture
3
cards
10.3a - Strategic Implementation
Strategic implementation definition,
What are the stages of the strate...,
What are the internal factors on ...
4
cards
10.3b - Network Analysis
Critical path analysis definition,
What information is needed for cp...,
What does cpa calculate
11
cards
10.3d - CPA (Interpretation)
Critical path definition,
Total float time formula,
Advantages of cpa
4
cards
10.4a - The Value of Strategic Planning
Why might a strategy fail,
What are the two key approaches t...,
Planned strategy definition
11
cards
10.4b - Why Strategies Fail
Divorce of ownership and control ...,
Corporate governance definition,
How can divorce of control lead t...
12
cards
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