Organisational Culture & Committees Flashcards Preview

ACCA: F1: B: Business Organisation Structure, Functions & Governance > Organisational Culture & Committees > Flashcards

Flashcards in Organisational Culture & Committees Deck (58)
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1

Research & Development: Research can be of 3 types:

1. Pure (New scientific or technical knowledge)
2. Applied (specific practical aim or application)
3. Development (Use of existing scientific or technical knowledge to produce new products or systems

2

There are 2 categories of R&D:

1. Product research ('offer' to the market)
2. Process research (The way or efficiency with which products are made)

3

The 4 aspects of process research:

1. Processes (crucial in service industries)
2. Productivity (saves money & time)
3. Planning
4. Quality mangement

4

R&D should be closely coordinated with...

...marketing
Customer needs - vital input to new product development

5

The purchasing mix is: (4)

1. Quantity
2. Quality
3. Price
4. Delivery

6

Purchasing is...

...the acquisition of material resources and business services for use by the organisation

7

Importance of purchasing: (3)

1. Cost
2. Quality
3. Strategy

8

Purchasing manager's responsibilities include: (7)

1. Inputs for production
2. Inputs for administration
3. Cost control
4. Liaison with R&D
5. Supplier management
6. Obtaining information (Availability, quality, prices, etc)
7. Maintaining inventory levels

9

Professionalism & effectiveness of the purchasing function does 3 things:

1. Best value for money
2. Meeting quality targets
3. Minimises inventory-holding costs

10

Service is...

...any activity of benefit that 1 party can offer to another that is essentially intangible and does not result in the ownership of anything. Its production may or may not be tied to a physical product.

11

The nature of service: (4)

1. Intangibility
2. Inseparability
3. Variability
4. Ownership

12

Implications of service provision: (4)

1. Poor service on 1 occasion = widespread distrust
2. Complexity
3. Pricing
4. HR Management

13

Dimensions of Service Operations: Determinants (10)

1. Tangibles (Fixtures and fittings)
2. Reliability
3. Responsiveness
4. Communication (Non-technical language!)
5. Credibility
6. Security
7. Competence
8. Courtesy
9. Understanding customers' needs
10. Access (Queuing systems)

14

Marketing is...

...the management process which identifies, anticipates and satisfies customer needs profitably

15

4 Roles of Marketing:

1. Sales support
2. Marketing communications
3. Operational marketing
4. Strategic marketing

16

Operational marketing activities include: (6)

1. Research & analysis
2. Contributing to strategy and marketing planning
3. Managing brands
4. Implementing marketing programs
5. Measuring effectiveness
6. Managing marketing teams

17

Marketing orientations towards customers: (4)

1. Production orientation
2. Product orientation
3. Sales orientation
4. Marketing orientation

18

Marketing mix is...

...the set of controllable variables and their levels that an organisation uses to influence the target market
...the 4 P's are product, price, place and promotion

19

Product issues include: (8)

1. Design
2. Features
3. Quality & reliability
4. Packaging
5. Safety
6. Ecological friendliness
7. What it does
8. Image

20

There are 3 distinctions in products:

1. Product class (cars, washing machines)
2. Product form (Hearses, 4x4, hatchbacks)
3. Brand or make (Nissan, Vauxhall, Rover)

21

Product life cycle includes 5 stages:

1. Introduction
2. Growth
3. Maturity
4. Decline
5. Senility

22

Place issues include: (2)

1. Outlets (Intermediaries / direct)
2. Logistics (Warehouses, storage & transport)

23

Promotion is intended to stimulate customers through 4 behavioural stages:

1. Awareness
2. Interest
3. Desire
4. Action

24

Types of promotion: (4)

1. Advertising
2. Sales promotion
3. Direct selling
4. Public relations

25

Penetration pricing is...

...charging a low price to persuade as many people as possible to buy the product in its early stages

26

Skimming is...

...setting prices to cream off the highest level of profits even though restricting affordability

27

For services, there are 3 more P's:

1. People
2. Processes
3. Physical evidence

28

Advantages of centralised administration offices: (5)

1. Consistency
2. Security / control
3. Head office
4. Economies of scale
5. Single location

29

Disadvantages of centralised administration offices: (3)

1. Wait for tasks to be carried out
2. Reliance means offices are less self-sufficient
3. System faults or hold-ups impact across the organisation

30

Sources of finance: (7)

1. Capital markets
2. Money markets
3. Retained earnings
4. Bank borrowings
5. Government sources
6. Venture capital
7. International money & capital markets