Shelly Irwin MKT 376 Exam #1 Study Guide Chapter 1 1. Business marketing compared to consumer marketing: the nature of the customer and how that customer uses the product. In business the customers are organizations (businesses, government, institutions). They differ in: nature of their markets, market demand, buyer behavior, buyer-seller relationship, environmental influences (competition, political, legal) and market strategy 2. Value: economic, technical, service, and social benefits
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1. Good conceptual and analytical skills combined with the ability to achieve results in a high pressure environment. I have learnt how to set priorities, monitor workflows etc. It all comes down to when the deadline has been set, and how much work is involved in getting the job done. The last thing I would need to do is ask for an extension because I underestimated the task at hand. As an example, at work, I need to prepare an FTE report fortnightly. I also prepare other
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PRODUCTION AND OPERATION MANAGEMENT PART ONE 1. Inputs in to outputs 2. The first operation to the finished product 3. Demand that is controlled by the company 4. Complete Enterprise wide business solution 5. Computer aided design 6.Technological forecast 7. All of the above 8. Production planning and scheduling & control system 9. Functional layout 10. Work measurement PART TWO 1. Define job shop production? Job Shop Production: In this system, products are manufactured to meet
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defined budget as the “year-end profit forecasts”. Budgets have been using by companies for years since decades ago as a tool for management to use to achieve its strategic goals. A company plans its expedition toward its strategic goal in a planned method, and its preparation for the expedition with a strategic plan called a budget. Critics of budgets claim that budgets are bad for business and no longer sufficient and are “fundamentally flawed” as a planning and control model in today’s complex
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England has defined management accounting as: “Any form of accounting which enables a business to be conducted more efficiently can be regarded as Management Accounting”. As per American Accounting Association, “Management Accounting includes the methods and concepts necessary for effective planning, for choosing among alternative business actions and for control through the evaluation and interpretation of performances. As per Institute of Chartered
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Identifying and Reducing High Staff Turnover Introduction The Information Technology Department (IT) at ABC Hospital is comprised of the following Teams: Radiology IT, Radiation Oncology IT, Lab IT, Cardiology IT & Peri-operative IT Teams. The focus of the IT Department is to provide IT Support for the clinical applications utilized by the respective departments that they support. The IT department focuses on application support, incident management, project management, and a strong focus
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Materials Materials are the principle component in production and transform into finished goods. The basic substances used in the process of production and from which a product is made are termed as materials. The term material is fairly comprehensive. It in includes not merely raw materials but work-in-process or semi finished goods, finished goods and consumable stores also because they may use to the process of production. Types of Materials Direct Materials: Materials that became a
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Chapter 1: A new framework for implementing corporate sustainability Key points: ▪ Sustainability performance is the effect of corporate activity on the social, environmental, and economic fabric of society. ▪ A balance between economic progress, social responsibility, and environmental protection, sometimes referred to as the triple bottom line, can lead to competitive advantage. ▪ The evaluation of social, economic, and environmental impacts of organizational actions is necessary
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Chapter 1: A new framework for implementing corporate sustainability Key points: ▪ Sustainability performance is the effect of corporate activity on the social, environmental, and economic fabric of society. ▪ A balance between economic progress, social responsibility, and environmental protection, sometimes referred to as the triple bottom line, can lead to competitive advantage. ▪ The evaluation of social, economic, and environmental impacts of organizational actions is necessary
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new business ideas, but there are a few new twists. Using measurements to support manufacturing operations has its roots back to the late 19th and early 20th centuries with ideas espoused by Frederick W. Taylor, the father of applying scientific methods to running business. His ideas for time and motion studies of operations were successfully used to scientifically manage production lines and warehouse operations. These ideas, however, led to exaggerated business processes that transitioned into
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