140 terms
Analysing and Improving Operational Performance
Production system eliminating waste; maximizing value.
Operational Management
Analysing and Improving Operational Performance
(already covered - see 1.4).
Operational Management
Analysing and Improving Operational Performance
Production capacity exceeding market demand.
Operational Management
Analysing and Improving Operational Performance
Processes preventing defects before/during production (proactive).
Operational Management
Analysing and Improving Operational Performance
Small employee groups meeting regularly to identify/solve quality problems.
Operational Management
Analysing and Improving Operational Performance
Inspection/testing to identify defects (reactive).
Operational Management
Analysing and Improving Operational Performance
Systematic approach ensuring products/services meet standards consistently.
Operational Management
Analysing and Improving Operational Performance
Unused production capacity available for growth.
Operational Management
Analysing and Improving Operational Performance
Network of organizations/processes producing/delivering product from materials to customer.
Operational Management
Analysing and Improving Operational Performance
Comprehensive approach making quality responsibility of all employees.
Operational Management
Analysing Financial Performance
(Maslow - see 1.4).
Financial Management
Analysing Financial Performance
Business/process relying heavily on human labor.
Financial Management
Analysing Financial Performance
(Quality - already covered).
Financial Management
Analysing Financial Performance
Manufacturing custom products one at a time or in small quantities.
Financial Management
Analysing Financial Performance
See Job Production.
Financial Management
Analysing Financial Performance
(Continuous Improvement).
Financial Management
Analysing Financial Performance
Focused improvement activities over short period (days/weeks).
Financial Management
Analysing Financial Performance
(already covered - see 1.4).
Financial Management
Analysing Financial Performance
Regular servicing of equipment to prevent breakdown.
Financial Management
Analysing Financial Performance
Labor time measurement; employee hours worked.
Financial Management
Analysing Financial Performance
Producing goods through processing/assembly.
Financial Management
Analysing Financial Performance
Moving/storing materials in production.
Financial Management
Analysing Financial Performance
Highest inventory quantity before ordering more.
Financial Management
Analysing Financial Performance
Lowest inventory quantity; triggers reordering.
Financial Management
Analysing Financial Performance
Products becoming out-of-date/unusable before sale.
Financial Management
Analysing Financial Performance
Day-to-day activities transforming inputs to outputs.
Financial Management
Analysing Financial Performance
Directing resources to produce goods/services efficiently.
Financial Management
Analysing Financial Performance
Making something as effective/efficient as possible.
Financial Management
Analysing Financial Performance
Indirect production costs not directly tied to product: factory rent, utilities, depreciation, supervision.
Financial Management
Analysing Financial Performance
(see Waste Minimisation).
Financial Management
Analysing Financial Performance
Inventory quantity triggering new order placement.
Financial Management
Analysing Financial Performance
(Economic Order Quantity).
Financial Management
Analysing Financial Performance
Distributing limited resources (budget, equipment, labor, time) across activities/projects.
Financial Management
Analysing Financial Performance
Using resources (materials, energy, labor, capital) productively with minimum waste.
Financial Management
Analysing Financial Performance
Planning/controlling business resources to achieve objectives.
Financial Management
Analysing Financial Performance
Protecting employees from harm.
Financial Management
Analysing Financial Performance
Requirements ensuring workplace safety: equipment standards, procedures, training, protective equipment.
Financial Management
Analysing Financial Performance
Planning when tasks/production occurs.
Financial Management
Analysing Financial Performance
(see Semi-Fixed Costs - 2.2).
Financial Management
Analysing Financial Performance
(Changeover Costs).
Financial Management
Analysing Financial Performance
Manufacturing step producing product start-to-finish.
Financial Management
Analysing Financial Performance
(Inventory Turnover - already covered).
Financial Management
Analysing Financial Performance
Building/maintaining effective supplier partnerships.
Financial Management
Analysing Financial Performance
Manufacturing minimizing environmental/social impact.
Financial Management
Analysing Financial Performance
Tools, equipment, processes used in production.
Financial Management
Analysing Financial Performance
(Under-utilization).
Financial Management
Analysing Financial Performance
Cost per item produced.
Financial Management
Analysing Financial Performance
Discarded materials, inefficiency, rework, excess capacity.
Financial Management
Analysing Financial Performance
Reducing waste in production/operations.
Financial Management
Analysing Financial Performance
Analyzing work methods to improve efficiency.
Financial Management
Analysing Financial Performance
(see Flexible Workforce - 1.4).
Financial Management
Analysing Financial Performance
Increase in currency value relative to another.
Financial Management
Analysing Financial Performance
Financial support provided to eligible individuals: unemployment benefits, disability support, family allowances.
Financial Management
Analysing Financial Performance
Government regulations promoting fair competition, preventing monopolies/unfair practices.
Financial Management
Analysing Financial Performance
Overall market conditions and competitive pressures.
Financial Management
Analysing Financial Performance
Laws safeguarding consumers: product safety, honest information, rights to redress.
Financial Management
Analysing Financial Performance
Measure of average price changes for consumer goods/services.
Financial Management
Analysing Financial Performance
Total expenditure by households on goods/services.
Financial Management
Analysing Financial Performance
Trading one currency for another at market rate.
Financial Management
Analysing Financial Performance
Sustained decrease in general price level.
Financial Management
Analysing Financial Performance
Decrease in currency value relative to another.
Financial Management
Analysing Financial Performance
Increase in real GDP; expansion of economy.
Financial Management
Analysing Financial Performance
Unpredictability in economic conditions; difficulty forecasting.
Financial Management
Analysing Financial Performance
Study of how societies manage scarce resources.
Financial Management
Analysing Financial Performance
Sensitivity of quantity demanded/supplied to price changes.
Financial Management
Analysing Financial Performance
Total number of people working in economy/sector.
Financial Management
Analysing Financial Performance
Laws protecting employee rights: minimum wage, working hours, discrimination protection, health/safety, dismissal proced
Financial Management
Analysing Financial Performance
Protections employees have: fair treatment, safe conditions, minimum wage, non-discrimination, contractual protection.
Financial Management
Analysing Financial Performance
Effects of business on natural environment: emissions, waste, resource use, pollution.
Financial Management
Analysing Financial Performance
Laws/policies preventing environmental damage: pollution control, resource conservation, waste management, climate regul
Financial Management
Analysing Financial Performance
Requirements for acceptable environmental performance: emissions limits, waste handling, energy efficiency.
Financial Management
Analysing Financial Performance
Price of one currency in terms of another.
Financial Management
Analysing Financial Performance
Unexpected external event affecting economy/business: oil price spike, natural disaster, war, pandemic, financial crisis
Financial Management
Analysing Financial Performance
Government use of taxation and spending to influence economy.
Financial Management
Analysing Financial Performance
Official government set exchange rate (not market determined).
Financial Management
Analysing Financial Performance
Market-determined exchange rate; fluctuates based on supply/demand.
Financial Management
Analysing Financial Performance
Trading currencies; market where currencies exchange.
Financial Management
Analysing Financial Performance
Expenditure by government on goods, services, wages, benefits, infrastructure.
Financial Management
Analysing Financial Performance
Total value of goods/services produced in country in period.
Financial Management
Analysing Financial Performance
Protection of people from work-related harm.
Financial Management
Analysing Financial Performance
Cost of borrowing; return on savings.
Financial Management
Analysing Financial Performance
Increase/decrease in borrowing costs.
Financial Management
Analysing Financial Performance
Exchange of goods/services between countries.
Financial Management
Analysing Financial Performance
Market where labor (employees) is traded for wages.
Financial Management
Analysing Financial Performance
Government use of laws to regulate business behavior.
Financial Management
Analysing Financial Performance
Laws enacted by government regulating business/society.
Financial Management
Analysing Financial Performance
Central bank action controlling money supply/interest rates to influence economy.
Financial Management
Analysing Financial Performance
Single supplier of product/service; no competition.
Financial Management
Analysing Financial Performance
Lowest legal wage employers must pay employees.
Financial Management
Analysing Financial Performance
Industry where single supplier most efficient (high infrastructure cost).
Financial Management
Analysing Financial Performance
Market dominated by few large suppliers.
Financial Management
Analysing Financial Performance
Government regulation of prices; setting maximum or minimum prices.
Financial Management
Analysing Financial Performance
Illegal practice where competitors agree on prices.
Financial Management
Analysing Financial Performance
Government control of prices; typically maximum/minimum.
Financial Management
Analysing Financial Performance
Business with no control over price; must accept market price.
Financial Management
Analysing Financial Performance
Government policies protecting domestic industries from foreign competition.
Financial Management
Analysing Financial Performance
Ability to buy goods/services; determined by income and price levels.
Financial Management
Analysing Financial Performance
Limit on quantity of imports allowed.
Financial Management
Analysing Financial Performance
Economic contraction; negative growth, rising unemployment, falling demand.
Financial Management
Analysing Financial Performance
Business sector with government price/conduct regulation.
Financial Management
Analysing Financial Performance
Government rules controlling business behavior.
Financial Management
Analysing Financial Performance
Government agency enforcing regulations.
Financial Management
Analysing Financial Performance
Meeting regulatory requirements; following rules/standards set by government.
Financial Management
Analysing Financial Performance
Limited availability of resources relative to demand.
Financial Management
Analysing Financial Performance
Government payment supporting producers/consumers.
Financial Management
Analysing Financial Performance
Excess supply relative to demand at current price.
Financial Management
Analysing Financial Performance
Tax on imports, making foreign goods more expensive.
Financial Management
Analysing Financial Performance
Mandatory payment to government by individuals/businesses.
Financial Management
Analysing Financial Performance
Reduction in taxes; temporary or permanent.
Financial Management
Analysing Financial Performance
Advances in technology affecting business.
Financial Management
Analysing Financial Performance
Sharing technology knowledge/capabilities between countries/organizations.
Financial Management
Analysing Financial Performance
Statistical method analyzing data over time to identify trends/patterns.
Financial Management
Analysing Financial Performance
Exchange of goods/services between parties/countries.
Financial Management
Analysing Financial Performance
Obstacles to international trade: tariffs, quotas, regulations, transport costs.
Financial Management
Analysing Financial Performance
Group of countries with reduced trade barriers among themselves.
Financial Management
Analysing Financial Performance
Percentage of labor force without work/actively seeking.
Financial Management
Analysing Financial Performance
Global economic system; interconnected markets, trade, finance.
Financial Management
Analysing Financial Performance
Financial Management
Analysing Financial Performance
Ansoff's Matrix (4 strategies), Boston Matrix (4 quadrants), Porter's Five Forces (5 forces), Porter's Strategic Matrix,
Financial Management
Analysing Financial Performance
Globalisation, FDI, MNCs, Trading blocs, Glocalisation, Offshoring, Outsourcing, Global marketing, Cultural adaptation,
Financial Management
Analysing Financial Performance
All 7 accounting ratios (with formulas), Quantitative skills, Transferable skills.
Financial Management
Analysing Financial Performance
The process of comparing actual financial results with budgeted (planned) figures to identify variances, understand thei
Financial Management
Analysing Financial Performance
When a business is unable to continue trading, typically because it cannot pay its debts (insolvency) or because it is n
Financial Management
Analysing Financial Performance
The distinction between profit (an accounting measure of revenue minus costs over a period) and cash (the actual money a
Financial Management
Analysing Financial Performance
Buying existing business/company to gain control.
Financial Management
Analysing Financial Performance
Different strategic approaches to achieve objectives.
Financial Management
Analysing Financial Performance
External factors affecting business: market conditions, competition, regulations, technology, economics, society.
Financial Management
Analysing Financial Performance
Long-term plan achieving business objectives.
Financial Management
Analysing Financial Performance
Where business stands relative to competitors.
Financial Management
Analysing Financial Performance
Approach to competing effectively.
Financial Management
Analysing Financial Performance
Critical evaluation; identifying strengths and weaknesses.
Financial Management
Analysing Financial Performance
General, broad business direction; aspirational statements.
Financial Management
Analysing Financial Performance
Values, beliefs, behaviors characteristic of organization.
Financial Management
Analysing Financial Performance
Specific, measurable targets business aims to achieve.
Financial Management
Analysing Financial Performance
Business responsibility to stakeholders beyond profit maximization.
Financial Management
Analysing Financial Performance
Overall long-term plan achieving corporate objectives.
Financial Management
Analysing Financial Performance
Systematic evaluation comparing benefits and costs of decision/project.
Financial Management
Analysing Financial Performance
Choice between alternatives; selecting one option from options.
Financial Management
Analysing Financial Performance
Process of choosing between alternatives.
Financial Management
Analysing Financial Performance
Systematic method assisting decision-making.
Financial Management