1/54
Looks like no tags are added yet.
Name | Mastery | Learn | Test | Matching | Spaced |
---|
No study sessions yet.
Anticipating Risk
uncertainties in nature, in the economic system and in human nature.
Product is King
a company’s succes is the product itself.
Product Failues
Business Failure
What are the 2 Stages of Market Research?
Preliminary Survey and Intensive Market Study
Preliminary Survey
determine the potential demands.
Intensive Market Study
used for the basis of production plans and sales campaigns. Typically used after Preliminary Survey
Forecasting
practice of predicting what will happen in the future, taking consider of past and present.
Risk
company’s exposure to factors that may lower the profit/sales or fails.
Forecasting Risk
prediciting potential uncertainties.
What are the 3 sets of forces or influes
Seasonal Influence, Long Term Trends, Business Cycles
Seasonal Influence
Regular changes in the system occure within a year. Ex Holiday, Climate
Long Term Trends
Structural changes in the economy, occuring in slow and cumulative way.
Business Cycles
pattern where a business experience upswing and downswing. 2 extreme phase, Prosperity and Depression.
Business Barometers
Metric/ set of indicators used to see the overall health and direction of the business.
Methods of Forecasting
techniques used to predict future events or trends by analyzing historical data and patterns
what are 2 types of Forecasting Methods
Qualitative and Quantitative Methods.
What are the types of Qualitative Forecasting
Delphi Method, Market Research and Sales force composite
Delphi Methods
set of series of questioners used to gather opinions
Market Research
conducting a survey or focus groups to gain insights,
Sales Force Composites
Combining sales team forecast to predict future sales
Subjective Methods
heavily rely on personal opinions, intuitions
Objective methods
Relies on historical data and mathematical computations.
Examples of Objective Methods?
Time Series analysis, moving average method, exponentioal moving average method, correlations analysis.
Types of Quantitative Forecasting
Time Series analysis, Moving Average, Simple Linear Regression. Multiples Linear Regression
Time Series Analysis
analyzing historical data pattterns to identifty trends
Moving Average
calculating average of average recent data points
Simple Linear
identifying linear relationship between 2 variables to predict future values based on 1 variables.
Multiple Linear Regression
analyzing relationships of multiple Independent variables and dependent variables to make predictions
Stage of Product Development
Development and Introduction, Rapid Growth and Mature State
Specific Risk in Industrial operations
refer to the hazards tp some sectors or workplace
Risk Survey
process of identifying, assessing and responding to potential Risk
Technological Assesment
new field of study where its intent to examine the consequences of introducing new technology
Insurance
financial arrangement that offers financial protection from losses or potential rosk
Capital
resources like lands, buildings. machinery used in production
KInds of Capital
Fixed Capital, Working Capital. Pain In Capital. Equity Capital
Fixed Capital
assets used in production over a long time
Working Capital
Funds required for daily operations
Pain in Capital
money pain for the stock sold
Equity Capital
total assets minus debts
Sources of Savings
Individual, Businesss, Goverment Savings
Capital Pool
Fuel the Economy
Money Market
Financial Segment where short term borrowing occur
Types of Stocks
Common and Preffered Stocks
Bonds
Promises to repay loans
Reserves
setting aside money to keep a business stable
Budgetting
Function to plan that profit or return picture
6 Basic Budgets Needed
Production, Materials, Plant and Equipment, Maintenance, Manufacturing and Labor Budget
Examples of Variable Cost
Raw Materials, packaging, Production Supplies, Delivery cost, Labor cost
types of Bonds
Corporate, Goverment, Municipal, Convertible and Zero Coupon bonds