Beauty & Personal Care Market Overview 2023
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Questions and Answers

What is the largest Beauty & Personal Care market in 2023?

  • Asia (correct)
  • South America
  • Europe
  • United States

    • Zago Milano was founded in 2017 and is the first indie brand made entirely in Italy.

    True

    What percentage of responders engage with Beauty & Personal Care products online?

    20%

    What does the Balance Sheet represent?

    <p>A snapshot of a company’s properties and debts at a specific date</p> Signup and view all the answers

    The total revenue for the United States Beauty & Personal Care market in 2023 is US$ ______ billion.

    <p>97.8</p> Signup and view all the answers

    Which of the following factors is most crucial for customers when choosing skincare products?

    <p>Quality</p> Signup and view all the answers

    The Income Statement acts as a snapshot of the company’s value.

    <p>False</p> Signup and view all the answers

    What does ROE stand for and what does it measure?

    <p>Return on Equity; it measures a corporation's profitability by revealing how much profit a company generates with the money shareholders have invested.</p> Signup and view all the answers

    Match the business stage with its focus:

    <p>Pre-IPO = Growth and market entry Post-IPO = Operational stability and risk management</p> Signup and view all the answers

    The ability of a company to meet its current obligations is referred to as __________.

    <p>liquidity</p> Signup and view all the answers

    Leadership KPIs in the compensation structure are only focused on profitability.

    <p>False</p> Signup and view all the answers

    Zago Milano's mission is to make a difference in the world of skincare with ______.

    <p>undermakeup</p> Signup and view all the answers

    Match the following financial ratios with their descriptions:

    <p>ROE = Net Income/Stockholder Equity ROA = EBIT/Total Assets ROI = Return on Investment ROS = EBIT/Sales</p> Signup and view all the answers

    Which ratio measures how much operating profit is produced over sales?

    <p>ROS</p> Signup and view all the answers

    Solvency refers to a company's ability to generate profits efficiently.

    <p>False</p> Signup and view all the answers

    What is the primary focus of growth in a company?

    <p>Increasing its size without compromising its existence and autonomy.</p> Signup and view all the answers

    Which perspective is NOT one of the four interrelated perspectives in the Balanced Scorecard model?

    <p>Innovation</p> Signup and view all the answers

    The Balanced Scorecard only focuses on monetary measurements.

    <p>False</p> Signup and view all the answers

    What are the three major goals of the Boston Lyric Opera's mission statement?

    <p>Produce high quality professional opera productions, develop future opera talent, promote opera appreciation through educational and community outreach.</p> Signup and view all the answers

    The Balanced Scorecard helps to align employees towards the __________ goals and mission of the company.

    <p>strategic</p> Signup and view all the answers

    Match the following challenges faced by the Boston Lyric Opera with their descriptions:

    <p>Financial pressures = Rising operating costs and reduced unrestricted corporate donations Theater transition = Moved to Shubert Theater to increase capacity Funding focus = Need to convert subscribers to donors Ticket sales = Covered less than 40% of operating expenses</p> Signup and view all the answers

    What is one characteristic of the Balanced Scorecard?

    <p>Integrates diverse strategic variables</p> Signup and view all the answers

    Performance management focuses solely on tangible resources.

    <p>False</p> Signup and view all the answers

    What is the primary focus of Profit Planning Systems?

    <p>Predicting financial inflows and outflows</p> Signup and view all the answers

    What is the primary purpose of fixing targets in a strategic plan?

    <p>To provide clear objectives and metrics for measuring progress towards goals.</p> Signup and view all the answers

    Performance Measurement Systems only focus on long-term outcomes.

    <p>False</p> Signup and view all the answers

    What are the two levels at which strategy operates?

    <p>Corporate Strategy and Business Strategy</p> Signup and view all the answers

    SWOT Analysis helps identify a firm’s internal strengths and weaknesses relative to external __________ and __________.

    <p>opportunities, threats</p> Signup and view all the answers

    Match the following SWOT components with their definitions:

    <p>Strengths = Internal capabilities that give an advantage Weaknesses = Internal limitations that may hinder performance Opportunities = External conditions that can be advantageous Threats = External challenges that may pose risks</p> Signup and view all the answers

    Which of the following is NOT one of the Five Forces in market analysis?

    <p>Financial Resources</p> Signup and view all the answers

    Effective systems only consider intrinsic motivations of employees.

    <p>False</p> Signup and view all the answers

    What do performance measurement and control systems help balance within organizations?

    <p>Organizational tensions</p> Signup and view all the answers

    What is the primary disadvantage of specialization in market responsiveness?

    <p>Reduced customer responsiveness</p> Signup and view all the answers

    Decentralized organizations promote slower decision-making at lower levels.

    <p>False</p> Signup and view all the answers

    What determines what managers prioritize in an organization?

    <p>Span of Attention</p> Signup and view all the answers

    In centralized organizations, decision-making is concentrated at _____ levels.

    <p>higher</p> Signup and view all the answers

    Match the following organizational characteristics with their descriptions:

    <p>Span of Control = Number of subordinates reporting to a manager Span of Accountability = Range of metrics a manager is responsible for Centralized Organizations = Focus on efficiency and control Decentralized Organizations = Promote responsiveness to customer needs</p> Signup and view all the answers

    What is one of the roles of information in organizations?

    <p>To support operational effectiveness</p> Signup and view all the answers

    Internal information primarily helps in assessing operations within the organization.

    <p>True</p> Signup and view all the answers

    What type of organizations utilize narrow spans of control?

    <p>Centralized organizations</p> Signup and view all the answers

    Which of the following is NOT a component of the Inputs-Process-Outputs (IPO) Model?

    <p>Feedback Mechanism</p> Signup and view all the answers

    The primary focus of process monitoring is to enhance innovation.

    <p>False</p> Signup and view all the answers

    What does SWOT stand for in performance analysis?

    <p>Strengths, Weaknesses, Opportunities, Threats</p> Signup and view all the answers

    Managers communicate strategies and performance goals to external stakeholders like investors, suppliers, and ______.

    <p>board members</p> Signup and view all the answers

    Which focus area must managers consider when monitoring performance?

    <p>Technical Feasibility</p> Signup and view all the answers

    Match the following components with their descriptions:

    <p>Inputs = Resources required for production Transformation Process = Activities that convert inputs into outputs Outputs = Final products or services Feedback = Comparison of actual performance against expectations</p> Signup and view all the answers

    Feedback is used solely for evaluating employee performance.

    <p>False</p> Signup and view all the answers

    What is the purpose of decision-making in performance control?

    <p>To determine what to monitor based on technical feasibility, cause and effect, cost, and innovation needs.</p> Signup and view all the answers

    Study Notes

    Performance Management

    • Assignment grade: 25% simple average of 2 assignments
    • Final exam (written): 75% consisting of essay questions relating to class theory, cases, and exercises
    • Final exam duration: 90 minutes
    • PMS (Performance Measurement Systems) consist of:
      • Convey financial information
      • Are formal
      • Used by managers (influence decision-making and managerial action)
      • Influence organizational activities

    Business Strategies

    • Refers to how companies create value for customers while differentiating themselves from competitors.
    • Business models are used by managers as frameworks for competing.
    • Business goals are aspirations that managers set (economic/financial, market share, organizational learning/innovation).

    PMS to Support Strategy

    • Balancing profit, growth, and control
    • Balancing short-term results with long-term capabilities and growth
    • Balancing stakeholder performance expectations
    • Balancing opportunities and attention
    • Balancing human behaviors' influences

    Growth in Sales

    • Growth in sales leads to growth in assets
    • Example: 12,000 sales with a DSO of 90 days leads to 3000 receivables
    • Example: Increase in sales to 18,000 (1500 x 12) with a DSO of 90 days leads to 4500 receivables (+50%).

    Assets and Liabilities

    • Current Assets: Cash, inventory, and receivables
    • Fixed Assets: Tangible (machinery, building, equipment), intangible (patents, rights), financial
    • Liabilities vs. Equity

    PMS Objectives

    • Communicate strategic goals to the organization
    • Identify available resources for long-term goals
    • Specify cause-and-effect relationships between business goals and profit
    • Provide key performance indicators for growth
    • Establish and monitor short-term profit goals

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    Related Documents

    Performance Measurement PDF

    Description

    Test your knowledge on the Beauty & Personal Care market for 2023, including critical financial metrics and consumer engagement. This quiz covers key concepts like market revenue, ratios, and important factors influencing skincare product choices. Perfect for industry enthusiasts or business students.

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