Thought for the day:
“I hear, and I forget. I
see, and I remember. I
do, and I understand’.
-- Chinese Proverb
GET AN A
A
Grade
Band 6
Evaluation
To what extent, Evaluate, discuss,
justify, advise, recommend.
Apply, Examine, Analyse,
Interpret, Formulate.
Band 5
Band 4
Band 2/3
Application & Analysis
Understand
Knowledge
Compare, Contrast,
distinguish,, construct,
calculate, explain.
Define, Clarify, describe, extract,
identify, outline, recall, recount, state
summarie
ACTIVITY
Remember as many words as possible from this list:
Marketing
industrial market
Standardised approach
Customised pricing
Equity
Debentures
intermediate market
Quality
consumer market
mass market
Global sourcing
niche market
Write down all the words you can remember.
MARKETING
Go it so wrong:
http://www.amazon.co.uk/BIC-For-Amber-MediumBallpoint/dp/B004FTDMV6/ref=cm_cr_pr_sims_t
http://www.amazon.co.uk/productreviews/B004FTGJUW/ref=cm_cr_pr_shwvpnt?ie=UTF8&pageNumber=2&showViewp
oints=1&sortBy=bySubmissionDateDescending
The pens, which are promoted as “designed to fit comfortably in a woman’s hand” comes in an “attractive
barrel design available in pink and purple”.
Advertised exclusively for women, one version promises “smooth writing” and comes in a box of 12, writing
in both blue and black ink.
While BIC’s intentions are no doubt sincere, the products have inspired a wave of online ridicule as women
poke fun at their strategy.
The beauty of user-generated reviews and social media for market research purposes is that you can get some
instant and honest feedback on a new product. So the marketing department at Bic will have plenty of
feedback to read through after the launch of Bic for Her…
A PIECE OF NEWS…. BILLABONG
http://www.bbc.co.uk/news/business-14287574 (economic - pg 409)
http://www.bbc.co.uk/news/business-17070614
http://www.bbc.co.uk/news/business-17175199 (global demand)
http://www.bbc.co.uk/news/business-19388637 (finance)
A type of corporate action in
which an acquiring
company makes an offer
to the target company's
shareholders to buy the
target company's shares in
order to gain control of the
business.
Takeover bids can either be
friendly (board approves) or
hostile (buy shares from
shareholders without
approval).
GUESS WHO
Pick a definition
Group asks questions
– can only answer yes or no.
Work around the circle.
Pictionary
– Operation Business words
VERBAL SOCCER
Teacher questions
Kick-off
Three questions = a goal
Answer incorrectly it is a tackle and
possession goes to the other team.
Fouls – shouting out/ arguing with the
umpire.
ESSAY
PRACTICE
Thought for the day:
"When something can be read
without effort, great effort has
gone into its writing“
Enrique Jardiel Poncela (1901-152):
ESSAY - PRACTICE
Question 29 (20 marks)
Outline the reasons why businesses expand globally, and critically analyse the
political, social/cultural and management issues that arise with a global
workforce.
Write down everything you can think of:
Don’t over think… just write
TIPS:
•
Make sure you understand exactly what you are being asked to do. What is the
central issue of the question? What is it giving you the chance to write about?
Underline key words and specific instructions.
•
Your essay must be relevant to the question you have been set. During the planning
process, keep asking yourself, 'Is this issue directly related to the topic I have been
asked to discuss?'.
•
What kind of response does the question call for? Command term! For example, are
you asked to 'analyse' or ‘Evaluate' or 'discuss' the subject of the essay?
•
Write down anything which might be relevant to your answer. This can include ideas,
observations, themes, or examples you remember from your study materials.
TIPS:
•
At this stage you are brainstorming so it is a good idea to make a note of anything
you think of. Think Application.
•
From the ideas you have jotted down, extract the main points you are going to make
in your essay. Ignore anything which isn't relevant to the question.
•
Write your points down so that they form a logical sequence. Your aim is to
formulate a persuasive and coherent argument in response to the question. Try out
different arrangements of your points until you find the order which presents your
ideas most clearly and convincingly.
ESSAY - PRACTICE
Question 29 (20 marks)
Outline the reasons why businesses expand globally, and critically analyse the
political, social/cultural and management issues that arise with a global
workforce.
Explain what is globalisation of business:
•
integration between national economies and high degree of transfer of capital,
labour, financial resources & technology.
•
Allows to be more competitive for business but has made HRM more complex.
ESSAY - PRACTICE
Question 29 (20 marks)
Outline the reasons why businesses expand globally, and critically analyse the political,
social/cultural and management issues that arise with a global workforce.
Opportunities:
•
Global sourcing is a broad reference to sourcing business supplies or services without being
constrained by location and it therefore includes all outsourcing.
•
Economies of scale can lead to significant cost saving in various aspects of the business
enterprise.
•
Broader/expand target audience (increase sales)
•
Scanning and learning / R&D Innovation
•
Tax incentives/grants
•
High cost of skilled labour
•
Shortage of supply of skilled labour
ESSAY - PRACTICE
Question 29 (20 marks)
Outline the reasons why businesses expand globally, and critically analyse the political,
social/cultural and management issues that arise with a global workforce.
•
Service quality
•
Infrastructure
•
Government regulations - compliance
•
Political stability
•
Language skills – cultural awareness (language training/need positive relationships)
•
Deal effectively with cultural; diversity, appreciate business practices and customs of
host country.
•
Good for Interact with customers and learn from os markets
APPLICATION
•
Global sourcing – Crumpler – resource input from Vietnam, China, Taiwan
•
Economies of scale _ Crumpler – increased capacity through global expansion
(million units a year)factory produces similar products under same room (IN
Vietnam)
•
Broader/expand target audience (increase sales) – Billabong – USA, NZ, Japan,
Europe.
•
Scanning and learning / R&D Innovation - Crumpler – trade shows in Europe and
USA.
IN PAIRS
Create a plan for this essay…
Question 28 (20 marks)
Analyse how the market research process may assist a business to develop its
marketing plan and achieve the objectives of financial management.
A3 sheets…. Plan as a group
Question 28 (20 marks)
Analyse how the market research process may assist a business to develop its
marketing plan and achieve the objectives of financial management.
Market research process
• determining information needs, data collection (primary and secondary), data
analysis and interpretation
ANSWERS COULD INCLUDE:
Elements of a marketing plan
•
situational analysis including SWOT and product life cycle
•
establishing market objectives
•
identifying target market
•
developing marketing strategies
•
implementation, monitoring and controlling – developing a financial forecast, comparing actual and planned
results, and revising the marketing strategy
Objectives of financial management
•
liquidity
•
profitability
•
efficiency
•
growth
•
return on capital
Question 27 (20 marks)
Describe the strategies used by a business when marketing a product, and evaluate
the importance of pricing strategies for effective profitability management.
Question 28 (20 marks)
Describe the elements of a marketing plan used by a business, and evaluate the
effectiveness of financial planning in achieving the objectives of a marketing plan.
Exam (2006)
Short Answer
PRACTICE
a)
Cash flow statement
b)
Is a statement that indicates the movement of cash receipts and cash payments resulting from transactions over a period of time.
(movement of cash in and out of a business over a period of time.)
c) Distribution of payments/ discount early payments/ factoring
Subsidiary - daughter
company - is completely
or partly
owned/controlled
Ethnocentric –
Uses parent-country staff in
its organisation
Polycentric – use host
country staff with parent
country staff mgr at
headquarters.
Geocentric – use most
appropriate staff. Global
pool.
ONE OF THESE THINGS IS NOT LIKE THE OTHERS...
Play
Write which you think
is the odd one out
and why…..
ONE OF THESE THINGS IS NOT LIKE THE OTHERS...
Play
Operations
Marketing
Human Resources
Strategy
ONE OF THESE THINGS IS NOT LIKE THE OTHERS...
Play
Operations
Marketing
Human Resources
Strategy
ONE OF THESE THINGS IS NOT LIKE THE OTHERS...
Play
Psychological
Consumer
Sociocultural
Government
ONE OF THESE THINGS IS NOT LIKE THE OTHERS...
Play
Psychological
Consumer
Sociocultural
Government factors
influcing customer choice
ONE OF THESE THINGS IS NOT LIKE THE OTHERS...
Play
Retained profit
Over draft
Commercial Bill
Mortgage
ONE OF THESE THINGS IS NOT LIKE THE OTHERS...
Play
Retained profit
Over draft
Commercial Bill
Mortgage (loans)