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Business Foundations > Capsim Foundation Pg. 1-17 > Flashcards

Capsim Foundation Pg. 1-17 Flashcards

1
Q

Why were operating inefficiencies and poor product offerings not answered because of the monopoly?

A
  • Increasing costs could be passes on customers

- Mediocre products would sell, because there is no other options

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2
Q

what follows post-monopoly era?

A

Competition

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3
Q

what are Sensors?

A

Devices that observe physical conditions.

Ex. phones have sensors that allow it to interpret touch

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4
Q

What is an example of a sensor?

A

phones have sensors that allow it to interpret touch

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5
Q

What does an Industry Conditions Report outline?

A

the beginning business environment, and customer buying criteria.

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6
Q

What are the 6 management tools?

A
  • Rehearsal Tutorial
  • Foundation FastTrack
  • Situation Analysis
  • Proformas & annual Reports
  • Foundation Spreadsheet
  • Just in Time information
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7
Q

What does the Rehearsal Tutorial teach you?

A
  • Invent and Revise Products
  • Make marketing decisions
  • Schedule production and buy/sell equipment
  • Ensure your company has the financial resources it needs for the upcoming year
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8
Q

What is the FastTrack?

A

an extensive year-end report of the sensor industry. It includes:

  • customers buying patterns
  • Product positioning
  • Public financial records and other info. that will help you get ahead.
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9
Q

What does the Situation Analysis help you with?

A

Operational planning.

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10
Q

What are Profomas?

A

PROJECTIONS for the upcoming year.

Helps envision the impacts of your pending decisions and sales forecasts.

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11
Q

What are Annual reports?

A

RESULTS from the previous year.

Helps you analyse last year’s results.

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12
Q

What is the Foundations Spreadsheet?

A

Nerve center of company where you formulate and finalize management decisions for every department.

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13
Q

How does “Just in Time Info” help you?

A

it gives you detailed info. about the area you are viewing.

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14
Q

What are the 4 main departments/ functions areas in the Rehearsal Tutorial?

A
  • Research & Development (R&D)
  • Marketing
  • Production
  • Finance
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15
Q

What does the R&D (Research and Development) do?

A

design your product line. They Invent and revise products to customer’s needs.

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16
Q

What is the role for Marketing Departments?

A

they price and promote your products.
interact w/ customers.
responsible for sales forecasts.

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17
Q

What does Production Departments do?

A

determines how many units will be manufactured during the year.
Responsible for buying & selling production lines.

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18
Q

What does the Finance Department do?

A

Makes sure your company has the financial resources it needs to run through the year.
Can also issue stock dividends, buy back stock/ retire bonds before their due dates.

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19
Q

What are Plug-ins?

A

different than modules.

their decisions have a greater overall impact on your organization.

20
Q

Name the 6 Inter-Department Coordination.

A 
1 R&D and Marketing
2 R&D and Production
3 Marketing and Production
4 Marketing and finance
5 Finance and Production
6 Finance and all Departments
21
Q

How does R&D work with Marketing?

A

Makes sure products meet customer expectations.

22
Q

How does R&D work with Production?

A

To ensure assembly lines are purchased for new products. If a product is discontinued, Productions tells R&D.

23
Q

How does Marketing work with Production?

A

Makes sure manufacturing quantities are in line w/ forecasts. if Market want to discontinue product, they tell Production to sell the product’s line.

24
Q

How does Marketing work with Finance?

A

to project revenues for each product and to set Account Receivable policy.

25
Q

What is and Accounts Receivable policy?

A

it is the amount of time customers can take to pay for their purchases.

26
Q

How does Finance work with Production?

A

Productions tells Finance if it needs more money for additional equipment. If Finance cannot raise enough money, they tell Production to scale back its requests/ perhaps sell idle capacity.

27
Q

How does Finance work with All Departments?

A

acts as a watchdog over company expenditures.

28
Q

What is Decision Audit?

A

a complete trail of all team decisions. It helps you identify your decision-making strengths and weaknesses.

29
Q

What doe Successful Managers do?

A
  • Analyse the market and its competing products
  • Create and execute a strategy
  • Coordinate company activities.
30
Q

What information will help you understand your customers?

A

Industry Conditions Report

31
Q

What are the two primary groups of people?

A
  • Low Tech

- High tech

32
Q

What are the 4 Buying Criteria?

A

Price, Age, MTBF (Mean Time Before Failure), Positioning

33
Q

What price are Low Tech wanting?

A

Inexpensive products.

34
Q

What price are High Tech wanting?

A

advanced tech and is willing to pay higher prices.

35
Q

What does age mean in segments?

A

Length of time since the product was invented or revised.

36
Q

What age do High Tech want?

A

new tech.

37
Q

What are do Low Tech want?

A

Proven tech that has been in the market for a few years.

38
Q

What does MTBF (Mean Time Before Failure) mean?

A

a rating of reliability measured in hours.

39
Q

What MTBF do High Tech prefer?

A

high MTBF rating

40
Q

What MTBF do Low Tech prefer?

A

satisfied with low MTBF rating

41
Q

What is Positioning?

A

Combining size and performance.

42
Q

What do Perceptual Maps Track?

A

Positioning

43
Q

Where are Drift rates published?

A

Industry Conditions Report

44
Q

What Buying Criteria stays the same?

A

Price, age, and MTBF.

45
Q

What Buying Criteria changes every year?

A

Positioning

46
Q

What are the 4 “P’s” of Marketing?

A

Product, price, place, and promotion

Business Foundations (1 decks)

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