HSC Business Studies Acronyms

Operations Role (DIGChicks)

- Differentiation

- Interdependence w/ other KBFs

- Goods and Services in other industries

- Cost Leadership

Operations Influences (GTG LE COQ + CSR)

- Globalisation

- Technology

- Government

- Legal Regulations

- Cost-based competition

- Quality Expectations

- Legal v ethical

- Env. sustainability and social responsibility

Operations Processes (4Vs)

- Variation in Demand

- Variety

- Volume

- Visibility

Operations Strategies (POGO SQUINT)

- Performance Objectives

- Outsourcing

- Global factors

- Overcoming resistance to change

- Supply Chain Management

- Quality Management

- Inventory Management

- New product/service design and development

- Technology

Operations Performance Objectives (QSDFCC --> Quesadilla Football Club)

- Quality

- Speed

- Dependability

- Flexibility

- Customisation

- Cost)

Marketing Role (TASI)

- Types of Markets

- Approaches to Marketing

- Strategic Role

- Interdependence

Marketing Influences (FEC)

- Factors influencing customer choice

- ethical

- consumer laws

Marketing Influences (Factors influences customer choice) (PEGS)

- Psychological

- Economic

- Government

- Sociocultural

Marketing Influences (Ethical) (TAPES)

- Truth

- Accuracy and Good Taste

- Products that may damage health

- Engaging in fair competition

- Sugging

Marketing Influences (Consumer Laws) (WIPD)

- Warrenties

- Implied conditions

- Price discrimination

- Deceptive and misleading advertising

Marketing Processes (SMEIDI)

• situational analysis - SWOT, product life cycle

• market research

• establishing market objectives

• identifying target markets

• developing marketing strategies

• implementation, monitoring and controlling

Marketing Strategies (4Ps + PEG)

- Product

- Price

- Promotion

- Place

- Physical Evidence

- E-marketing

- Global Marketing

Finance Objectives (PLEGS)

- Profitability

- Liquidity

- Efficiency

- Growth

- Solvency (Gearing)

Finance Strategic Role (FID)

- Finance Decisions

- Investment decisions

- Dividend decisions

Finance Influences (SIGG)

- Sources of finance

- Institutions

- Government

- Global Market Influences

Finance Influences (Financial Influences) (BUFSAIL)

- Banks

- Unit Trusts

- Finance Companies

- Superannuation Funds

- ASX

- Investment banks

- Life INsurance Companies

Finance Processes (PIMFLE)

- Planning

- Implementing

- Monitoring and Control

- Financial ratios

- Limitations of Financial Reports

- Ethical issues related to financial Reports

Finance Planning and Implementing (RBCNR) (Reb Blue Corner)

- Record Systems

- Budgets

- Financial Controls

- Financial Needs

- Financial Risks

Finance Limitations of Financial Reports (DR CEN has TINEA)

- Debt Repayments

- Capitalising Expenses

- Notes to Financial Statements

- Timing Issues

- Normalised Earnings

- Asset Valuation

Finance Strategies (GWCP)

- Global Financial Management

- Working Capital Management

- Cash Flow Management

- Profitability Management

Finance Global Financial Management (HM DIE)

- Hedging

- Methods of International Payment

- Derivatives

- INterest rates

- Exchange Rates

HR Role (OHUSI)

HR Influences (STEELS)

HR Processes (ADMS)

HR Strategies (PaRTLy GRaDD) (Drop all vowels and y)

- Performance Management

- Recruitment

- Training and Development

- Leadership Style

- Global

- Rewards

- Design

- Dispute Resolution

HR Effectiveness of HR management Indicators (WAT BLAC)

- Worker satisfaction

- Absenteeism

- Turnover

- Benchmarking Key Variables

- Levels of Dispute

- Accidents

- Corporate Culture