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HSC Business studies > Syllabus > Flashcards

Syllabus Flashcards

1
Q

operations processes

1st dot point

A

o inputs

  • transformed resources (materials, information, customers)
  • transforming resources (HR, facilities)
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2
Q

operations strategies 1 (po)

A

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

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3
Q

op processes 2

A

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
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4
Q

op processes 3

A

o outputs

  • customer service
  • warranties
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5
Q

op strat 2 (nps)

A

o new product/service - design and development

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6
Q

op strat 3 (scm)

A

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

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7
Q

op strat 4 (o)

A

o outsourcing - + / -

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8
Q

op strat 5 (t)

A

o technology - leading edge, established

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9
Q

op strat 6 (im)

A

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

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10
Q

op strat 7 (qm)

A

o quality management

  • control
  • assurance
  • improvement
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11
Q

op strat 8 (ortc)

A

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

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12
Q

op strat 9 (gf)

A

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

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13
Q

name operations strategies

A 
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
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14
Q

Role of financial management

A

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

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15
Q

Strategic role of financial management

A

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

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16
Q

Financial influences (all)

A 
o internal sources of finance
o external sources of finance
o financial institutions
o influence of government
o global market influences
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17
Q

Financial influences 1 (i)

A

internal sources of finance - retained profits

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18
Q

Financial influences 2 (e)

A

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
19
Q

Financial influences 3 (f)

A

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

20
Q

Financial influences 4 (g)

A

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

21
Q

Financial influences 5 (gmi)

A

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

22
Q

Financial processes (all)

A

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

23
Q

Financial processes 1 (p)

A

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

24
Q

Financial processes 2 (d)

A

debt and equity financing - +/-

25
Q

Financial processes 3 (m)

A

matching the terms and source of finance to business purpose

26
Q

Financial processes (m,c)

A

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

27
Q

Financial processes 5 (l)

A

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

28
Q

Financial processes 6 (e)

A

ethical issues related to financial reports

29
Q

Financial management strategies (all)

A

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

30
Q

Financial management strategies 1 (cfm)

A

cash flow management

  • cash flow statements
  • distribution of payments, discounts for early payment, factoring
31
Q

Financial management strategies 2 (wcm)

A

working capital management

  • control of current assets - cash, recievables, inventory
  • control of current liabilities - payables, loans, overdrafts
  • strategies - leasing, sale and lease back
32
Q

Financial management strategies 3 (pm)

A

profitability management

  • cost controls - fixed and variable, cost centres, expense minimisation
  • revenue controls - marketing objectives
33
Q

Financial management strategies 4 (gfm)

A

global financial management

  • exchange rates
  • interest rates
  • methods of international payments - payment in advance, letter of credit, clean payment, bill of exchange
  • hedging
  • derivatives
34
Q

Role of human resources management

A 
o the strategic role of HR 
o interdependence
o outsourcing 
- human resource functions
- using contractors- domestic, global
35
Q

HR strategic role

A

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

36
Q

HR influences (all)

A 
o stakeholders
o legal
o economic
o technological
o social
o ethics and corporate social responsibility
37
Q

HR influences 1 (st)

A

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

38
Q

HR influences 2 (l)

A

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
39
Q

HR influences 3 (e)

A

economic

40
Q

HR influences 4 (t)

A

technological

41
Q

HR influences 5 (so)

A

social - changing work patterns, living standards

42
Q

HR influences 6 (ecsr)

A

ethics and corporate social responsibility

43
Q

effectiveness of HR management

A

o indicators

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

HSC Business studies (1 decks)

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