Podcast
Questions and Answers
Which of the following is true about strategy?
Which of the following is true about strategy?
- It only focuses on maximizing sales
- It is a short-term plan that guides a company's daily operations (correct)
- It has no impact on daily operations
- It is a long-term plan that guides a company's daily operations
What is an incorrect statement regarding financial management?
What is an incorrect statement regarding financial management?
- One of the main goals is to minimize sales
- One of the main goals is to maximize cost
- Both a and b are incorrect
- None of the above (correct)
Are IKEA customers allowed home delivery for their purchases?
Are IKEA customers allowed home delivery for their purchases?
- The statement does not provide this information
- No, they are not allowed home delivery (correct)
- Home delivery is only available for certain products
- Yes, they have the option for home delivery
Was CocaCola's #MakeItHappy campaign a successful social media campaign?
Was CocaCola's #MakeItHappy campaign a successful social media campaign?
Is long-term debt required to be paid within a year?
Is long-term debt required to be paid within a year?
What does direct procurement relate to?
What does direct procurement relate to?
What does competitive advantage refer to?
What does competitive advantage refer to?
What does the term 'vision' represent in a company?
What does the term 'vision' represent in a company?
What is the Marketing Mix composed of?
What is the Marketing Mix composed of?
What does direct procurement relate to?
What does direct procurement relate to?
What does the income statement measure?
What does the income statement measure?
What is Net Working Capital defined as?
What is Net Working Capital defined as?
What does Technology Development refer to?
What does Technology Development refer to?
What is Porter's value chain model used for?
What is Porter's value chain model used for?
What is finance about?
What is finance about?
'Selective hiring techniques' are used for what purpose?
'Selective hiring techniques' are used for what purpose?
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Study Notes
Strategy
- A plan of action designed to achieve a particular goal or set of goals.
Financial Management
- Does not require long-term debt to be paid within a year.
Logistics and Delivery
- IKEA customers are allowed home delivery for their purchases.
Social Media Marketing
- CocaCola's #MakeItHappy campaign was a successful social media campaign.
Procurement
- Direct procurement relates to purchasing raw materials, goods, or services directly from a supplier.
Competitive Advantage
- Refers to a company's ability to perform at a higher level than its competitors.
Company Vision
- Represents a company's desired future state or position.
Marketing Mix
- Composed of four Ps: Product, Price, Place, and Promotion.
Financial Statement Analysis
- The income statement measures a company's revenues and expenses over a particular period.
Working Capital
- Net Working Capital is defined as a company's current assets minus its current liabilities.
Technology Development
- Refers to the process of creating new or improved products, processes, or services.
Value Chain Analysis
- Porter's value chain model is used to analyze the activities that create value for a company's customers.
Finance
- The management of money and investments for individuals, businesses, and organizations.
Human Resources
- Selective hiring techniques are used to identify and recruit the best-qualified candidates for a job.
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