Term 4

Question 1

what are the 4 tasks in market day?

Answer 1

1. human resources
2. marketing
3. finance
4. operations

Question 2

what is operations in charge of? (6)

Answer 2

1. In charge of making your product
2. Identifying, sourcing and setting up all required equipment
3. Setup of the production line to make your product
4. Identifying how many people are needed to run the stall and what their tasks are,
5. Identifying the ingredients needed and organizing their supply and storage
6. Calculating product costs and any action required to make your product a reality.

Question 3

what is finance in charge of? (4)

Answer 3

1. Managing the money in the lead-up to Market Day
2. Buying equipment, ingredients etc.
3. Collecting money from customers
4. This must be a very ethical person

Question 4

what is marketing in charge of? (5)

Answer 4

1. Customer awareness and promotion/advertising
2. Identifying your customer segments
3. Identifying the value proposition of your product
4. The product is appropriately priced compared to competitors
5. Planning how customers will be treated at your stall and the type of experience they can expect

Question 5

what is human resources in charge of? (4)

Answer 5

1. In charge of communication between all team members
2. Managing the list of tasks and due dates
3. Keeping everyone motivated
   making sure that every team member knows what is expected of them
4. Everything runs smoothly on market day making sure everyone in the team is happy