Syllabus

Question 1

operations processes

1st dot point

Answer 1

o inputs

• transformed resources (materials, information, customers)
• transforming resources (HR, facilities)

Question 2

operations strategies 1 (po)

Answer 2

o performance objectives - quality, speed, dependability, frequency, cost, customization

Question 3

op processes 2

Answer 3

o Transformation process

• influence of volume, variety, variation in demand, visibility (customer contact)
• Sequencing and scheduling - Gantt chart and critical path analysis
• technology, task design, process layout
• monitoring, control, and improvement

Question 4

op processes 3

Answer 4

o outputs

• customer service
• warranties

Question 5

op strat 2 (nps)

Answer 5

o new product/service - design and development

Question 6

op strat 3 (scm)

Answer 6

o supply chain management - logistics, e-commerce, global sourcing

Question 7

op strat 4 (o)

Answer 7

o outsourcing - + / -

Question 8

op strat 5 (t)

Answer 8

o technology - leading edge, established

Question 9

op strat 6 (im)

Answer 9

o inventory management - +/- of holding stock, LIFO, FIFO, JIT

Question 10

op strat 7 (qm)

Answer 10

o quality management

• control
• assurance
• improvement

Question 11

op strat 8 (ortc)

Answer 11

o overcoming resistance to change - financial costs, redundancy payments, purchasing new equipment, retraining, inertia, reorganizing plant layout

Question 12

op strat 9 (gf)

Answer 12

global factors - global sourcing, economies of scale, scanning and learning, research and development

Question 13

name operations strategies

Answer 13

o performance objectives
o new product/service
o Supply chain management
o outsourcing
o technology
o Inventory management
o Quality management
o overcoming resistance to change
o global factors

Question 14

Role of financial management

Answer 14

o Strategic role (effective planning and management of a business; financial resources to ensure the business achieves its overall goals and objectives. )
o objectives of financial management
- profitability, growth, efficiency, liquidity, solvency
- long term, short term
o interdependence

Question 15

Strategic role of financial management

Answer 15

effective planning and management of a business; financial resources to ensure the business achieves its overall goals and objectives.

Question 16

Financial influences (all)

Answer 16

o internal sources of finance
o external sources of finance
o financial institutions
o influence of government
o global market influences

Question 17

Financial influences 1 (i)

Answer 17

internal sources of finance - retained profits

Question 18

Financial influences 2 (e)

Answer 18

external sources of finance

• debt - short-term borrowing (overdraft, commercial bills, factoring), long-term borrowing (mortgage, debentures, unsecured notes, leasing)
• equity - ordinary shares (new issues, rights issues, placements, share purchase plans), private equity

Question 19

Financial influences 3 (f)

Answer 19

financial institutions - banks, investment banks, finance companies, superannuation funds, life insurance companies, unit trusts, and the Australian Securities Exchange

Question 20

Financial influences 4 (g)

Answer 20

influence of government - Australian Securities and Investments Commission, company taxation

Question 21

Financial influences 5 (gmi)

Answer 21

global market influences - economic outlook, availability of funds, interest rates

Question 22

Financial processes (all)

Answer 22

o planning and implementing
o debt and equity financing
o matching the terms and source of finance to business purpose
o monitoring and controlling
o financial ratios
o limitations of financial reports
o ethical issues related to financial reports

Question 23

Financial processes 1 (p)

Answer 23

planning and implementing - financial needs, budgets, record systems, financial risks, financial controls

Question 24

Financial processes 2 (d)

Answer 24

debt and equity financing - +/-

Question 25

Financial processes 3 (m)

Answer 25

matching the terms and source of finance to business purpose

Question 26

Financial processes (m,c)

Answer 26

monitoring and controlling - cash flow statement, balance sheet, income statement

Question 27

Financial processes 5 (l)

Answer 27

limitations of financial reports - normalized earnings, capitalizing expenses, valuing assets, timing issues, debt repayments, notes to the financial statements

Question 28

Financial processes 6 (e)

Answer 28

ethical issues related to financial reports

Question 29

Financial management strategies (all)

Answer 29

o cash flow management o working capital management o profitability management o global financial management

Question 30

Financial management strategies 1 (cfm)

Answer 30

cash flow management - cash flow statements - distribution of payments, discounts for early payment, factoring

Question 31

Financial management strategies 2 (wcm)

Answer 31

working capital management - control of current assets - cash, recievables, inventory - control of current liabilities - payables, loans, overdrafts - strategies - leasing, sale and lease back

Question 32

Financial management strategies 3 (pm)

Answer 32

profitability management - cost controls - fixed and variable, cost centres, expense minimisation - revenue controls - marketing objectives

Question 33

Financial management strategies 4 (gfm)

Answer 33

global financial management - exchange rates - interest rates - methods of international payments - payment in advance, letter of credit, clean payment, bill of exchange - hedging - derivatives

Question 34

Role of human resources management

Answer 34

``` o the strategic role of HR o interdependence o outsourcing - human resource functions - using contractors- domestic, global ```

Question 35

HR strategic role

Answer 35

acquire the right people for the right job at the right time in order to achieve the overall business goals including profit maximization

Question 36

HR influences (all)

Answer 36

``` o stakeholders o legal o economic o technological o social o ethics and corporate social responsibility ```

Question 37

HR influences 1 (st)

Answer 37

stakeholders - employers, employees, employer associations, unions, government organizations, society

Question 38

HR influences 2 (l)

Answer 38

legal - the current legal framework the employment contract - common law ( rights and obligations of employers and employees), minimum employment standards, minimum wage rates, awards, enterprise agreements, other employment contracts - occupational health and safety and workers compensation - anti discrimination and equal employment opportunity

Question 39

HR influences 3 (e)

Answer 39

economic

Question 40

HR influences 4 (t)

Answer 40

technological

Question 41

HR influences 5 (so)

Answer 41

social - changing work patterns, living standards

Question 42

HR influences 6 (ecsr)

Answer 42

ethics and corporate social responsibility

Question 43

effectiveness of HR management

Answer 43

o indicators - corporate culture - benchmarking key variables - changes in staff turnover - absenteeism - accidents - levels of disputation - worker satisfaction