Prelim Flashcards
What is internal recruitment? Try and give an advantage :)
Internal recruitment is when the job vacancy is only advertised within the organisation. Therefore only people working within the organisation can apply for it.
An advantage is that employees will already have experience with the business.
A disadvantage is that someone will need to replace the person that gets the job.
Name three roles of the manager in a business. Pls name three.
Planning- thinking about the future and what might happen
Organising - making sure resources are available and organised properly
Commanding - Instructing others to carry out tasks and trying to get the best from them
Co-ordinating - ensuring resources are in place when necessary so that work is carried out effectively
Controlling - ensuring things are carried out according to plan by monitoring and evaluating.
Whut is external recruitment? Try and give an advantage. :D
External recruitment is when the job vacancy is advertised both within and out with the organisation and anyone can apply.
An advantage is that more potential applicants can apply and obviously will bring with them different skills and junk.
A disadvantage is that this will take a lot longer and will probably be more expensive than internal.
Whut is leasing, bhoy?
Leasing - businesses could rent equipment rather than buying it straight up. Advantages of this: saves on having to purchase expensive equipment and equipment can be changed regularly and kept up-to-date. Disadvantages of this: leasing over a long period of time prove more expensive compared to buying it outright and the leased item is not owned by the organisation and is therefore not an asset to them.
Name a conflict between owners and employees.
Owners and employees: owners want to pay as low a wage as possible so that their profit is high whereas employees want high wages for their work. Owners want employees to work as many hours as possible whereas employees want to work as few hours as possible.
Name a conflict between owners and customers.
Owners and customers: owners want to make as much profit as possible by charging the highest price they can whereas customers want as low a price as possible.
What are out of the pipeline promotion?!
Out of the Pipeline promotions - offered to customers to encourage them to purchase their products. They offer promotions such as customer competitions, free samples, buy one get one free etc. The benefits of this is that it will bring in more customers because customers will want to buy their products if their is a promotion. Another benefit is because you are bringing more customers this means more profit is being made and that money can go back into the business to improve it.
Give a wee description of advertising :)
Advertising - this is when a product advertises their product or service to the public and this can be done in many ways such as through the Internet, tv, newspaper etc. The advantages of TV advertising is that the advertisement reaches a national audience. Also adverts maintain a high profile and a lot of people will be able to see the advert.
What is outsourcing bruv? You got this, this ones easy.
Outsourcing is when a company hires another business to do some work for them. Many firms outsource cleaning or IT operations to smaller, more specialist companies.
What are the advantages of using a SWOT diagram?
Used to identify an organisations Strengths, Weaknesses, Opportunities and Threats. This is useful as it allows an organisation to identify their weaknesses and how they can improve them. Also if an organisation can spot opportunities in the market then they can capitalise on them and make a lot of money.
What are the two obvious factors to consider when setting stock levels?
Price of stock.
Stock storage capacity.
Duh.
Name some methods introduced to improve product quality please.
- Quality control- used once product has been finished, to check it meets minimum requirements.
- Quality circle- group of workers are involved in discussions to solve production problems.
- Total quality management (TQM)- Involves quality control at every stage of production and involves continuous inspection of production process.
- Benchmarking- uses a standard set by an established quality leader to discover the best methods of production.
- quality assurance- the process wherby quality is at the forefront of every stage of the development, design, marketing, manufacturing and selling process.
Ethical issues which can affect a business?
All organisations have to obey statutory requirements on issues such as the environment, health and safety, and equal opportunities.
How could social media assist a business?
Social media can assist a business by raising the profile of a business. Free advertising.
What are EPOS? What do they allow?
This stands for Electronic Point Of Sale. These allow customers to pay for products without needing assistance from store staff.
