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Thought for the day:

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. To what extent, Evaluate, discuss, justify, advise, recommend. Band 6. Evaluation. Apply, Examine, Analyse, Interpret, Formulate. Band 5.

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Thought for the day:

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  1. Thought for the day: “I hear, and I forget. I see, and I remember. I do, and I understand’.-- Chinese Proverb
  2. Get an A A Grade To what extent, Evaluate, discuss, justify, advise, recommend. Band 6 Evaluation Apply, Examine, Analyse, Interpret, Formulate. Band 5 Application & Analysis Compare, Contrast, distinguish,, construct, calculate, explain. Band 4 Understand Define, Clarify, describe, extract, identify, outline, recall, recount, state summarie Band 2/3 Knowledge
  3. Activity Remember as many words as possible from this list: Marketing industrial market Standardised approach Customised pricing Equity Debenturesintermediate market Quality consumer market mass market Global sourcing niche market
  4. Write down all the words you can remember.
  5. Marketing Go it so wrong: http://www.amazon.co.uk/BIC-For-Amber-Medium-Ballpoint/dp/B004FTDMV6/ref=cm_cr_pr_sims_t http://www.amazon.co.uk/product-reviews/B004FTGJUW/ref=cm_cr_pr_shwvpnt?ie=UTF8&pageNumber=2&showViewpoints=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…
  6. 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).
  7. Guess Who Pick a definition Group asks questions – can only answer yes or no. Work around the circle.
  8. Pictionary – Operation Business words
  9. 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.
  10. ESSAY PRACTICE
  11. Thought for the day: "When something can be read without effort, great effort has gone into its writing“ Enrique JardielPoncela (1901-152):
  12. 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
  13. 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.
  14. 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.
  15. 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.
  16. 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
  17. 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
  18. 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.
  19. In pairs Create a plan for this essay…
  20. 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
  21. 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
  22. 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
  23. 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)
  24. Short Answer PRACTICE
  25. Cash flow statement 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.)
  26. c) Distribution of payments/ discount early payments/ factoring
  27. 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.
  28. One of these things is not like the others... Play Write which you think is the odd one out and why…..
  29. One of these things is not like the others... Play Operations Marketing Human Resources Strategy
  30. One of these things is not like the others... Play Operations Marketing Human Resources Strategy
  31. One of these things is not like the others... Play Psychological Consumer Sociocultural Government
  32. One of these things is not like the others... Play Psychological Consumer Sociocultural Government factors influcing customer choice
  33. One of these things is not like the others... Play Retained profit Over draft Commercial Bill Mortgage
  34. One of these things is not like the others... Play Retained profit Over draft Commercial Bill Mortgage (loans)
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