QB Flashcards
What does SMART stand for?
Specific Measurable Achievable Relevant Time-bound
What is the marketing mix? (4)
Product
Price
Promotion
Place
Define a staff function
One in which authority arises in giving specialist advice to another manager or department over which you have no line authority and therefore no authority to make or influence decisions in that other department
What are the four elements to the procurement mix?
- Quantity
- Quality
- Price
- Lead time
The _______ will comprise the systems and processes that allow the business to function, such as the financial system and ICT
Technostructure
What is the purpose of value chain analysis?
To work out how to perform activities better, as well as how to best manage internal and external linkages in the wider value chain of suppliers and customers
What does Porter’s five force analysis show?
How potential entrants, customers, substitutes, suppliers and incumbent rivals in an industry struggle among each other in a competitive environment
Johnson and Scholes recommend evaluating strategies against the SFA criteria. What does this stand for?
Suitability
Feasibility
Acceptability
Business risk includes what three risks?
- Strategy
- Enterprise
- Product
What does operational risk cover?
Process
People
Systems
Legal
What is the purpose of tactical information for staff?
To help them deal with short-term issues and opportunities
What is factoring
A form of debtor finance in which as business sells its account receivable to a third party at a discount
What is a system that aims to increase the productivity and inform of workers called?
An office automation system
A company’s supervisory board is elected by who?
Shareholders and employees
What is the difference between product risk and market risk?
Product risk: the risk that customers do not buy the company’s products in the expected quantities in the market
Market risk: the exposure to potential loss that would result from changes in market prices or rates
Which section of a company’s finance function would have primary responsibility for ensuring the sound stewardship by managers of the resources entrusted to them?
The financial transactions recording section
Marketing orientation is focused on what?
Supplying what the customer wants
How long after the anniversary date does a company have to file its next annual return?
28 days
When an organisational culture is outward-looking and high on control, it is termed what?
A rational goal culture
Will an organisational chart show the degree of decentralisation?
No
Machine bureaucracy depends primarily on the standardisation of its______ ______ _______ for coordination
Operating work processes
A _____ plan sets out the market to be served, how they wil be served and the finance required
Business
A ____ plan sets out the business’s overall objectives and hiw to achieve them
An ______ plan specifies what is expected of each function in a business
Business, operational
When a plc departs from relevant accounting standards and provisions of the CA 2006, which regular body is it referred to?
The financial reporting council
What are the six Wates principles?
- Purpose and leadership
- Board composition
- Director Responsibilities
- Opportunity and risk
- Remuneration
- Stakeholder Relationships and Engagement
One of the specific roles and responsibilities given to the ____ committee is the development and implementation of policy on engaging the external auditor to supppy non-audit services
Audit
Exploratory data analysis aims to identify what?
Relationships between different variables in a set of data
