Cost minimisation - Samenvattingen, Aantekeningen en Examens

TEST BANK Enterprise Risk Management S - The Marketplace to Buy and Sell your Study Material 1 RSK2601 TEST BANK Question 1 Which one of the following is a benefit of effective risk and opportunity management? 1) Improved profit certainty 2) Increased shareholder value 3) Increased stakeholder confidence Correct option 3 4) Lower economic returns Explanation Improved cost certainty, sustainable shareholder value, increased stakeholder confidence and higher economic returns are all benefits of ef...

TEST BANK Enterprise Risk Management S - The Marketplace to Buy and Sell your Study Material 1 RSK2601 TEST BANK Question 1 Which one of the following is a benefit of effective risk and opportunity management? 1) Improved profit certainty 2) Increased shareholder value 3) Increased stakeholder confidence Correct option 3 4) Lower economic returns Explanation Improved cost certainty, sustainable shareholder value, increased stakeholder confidence and higher economic returns...

TOPIC ONE - Answer OPERATIONS Define the operations function - Answer refers to business processes that transform and add value to inputs to produce outputs, part of the value chain Define the operations process - Answer Inputs - Transformation - Outputs (More Value then Inputs) Define strategic role of operations management - Answer 'affecting all key business areas in the longer term' - meeting key objectives of profit maximisation and competitive advantage What is Michae...

AQA GCSE Business Questions with complete solution 2024 Efficiency is the...? - correct answer minimisation of production resources whilst maximising production output. The lower the average unit cost is, the more _________ a business is. - correct answer efficient Break even formula: - correct answer Fixed Costs / Contribution (selling price - V. Cost) What are 6 types of waste? - correct answer Over Production Waiting Times Transport Stock going out of date/fashion/becoming...

AQA A level business 3.4 (2022/2023) Rated A Define Operation management: The process of organising a business's resources in order to supply consumers with goods and services e.g. of Operation manegment x2 Managing the supply chain Monitoring quality Define Operations objectives The specific goals set in relation to the production of goods and services that will enable a company to achieve its corporate objectives Types of operational objectives (x6) Costs Quality Speed of response and flex...

Marketing - A management process involved in identifying, anticipating and satisfying consumer requirements profitably Marketing mix - This is more commonly referred to as the '4 P's'. These are four elements of a business' marketing that are designed to meet the needs of the customers. Brand Name - A name, term, sign, symbol, design or any other feature that allows consumers to identify the goods and services of a business and to differentiate them from those of competitors ...

Globalisation Competitive advantage = adapting to global conditions. 38 000 restaurants in 120 countries. Quality tests three things Quality of inputs used Durability and reliability of the good or service The good is fit for purpose Eg. 2011 McAus coffee did not meet customers' "sophisticated coffee palate" (feedback showed dissatisfaction with consistency and strength of the blend). Responded by barista made coffee. Brainpower Read More Previous Play Next Rewind 1...

RSK3701 SUMMARISED EXAM NOTES 2023 UPDATED SUMMARY. Study Unit 01 Define and explain - Risk: Risk is the uncertainty of loss. Unfavourable deviation from the expected. Define Risk Management: A means of removing some or all of the uncertainty Differentiate between : Pure / Event Risk Speculative Risk There is either a Loss or No Loss Taken out in the hope of some gain. Particular risk: Affects only you of your family, not society as a whole. Break in. Fundamental risk: Affects society...

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MRCPsych Paper B stats