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Year 10 Business U2
| Question | Answer |
|---|---|
| What is Human Resource Management? | the strategic approach taken to manage people in an organisation to maximise employee performance and achieve organizational goals. |
| List some HR strategies that businesses use. | 1. Training and Development 2. Performance Appraisal 3. Financial Rewards 4. Flexible work arrangements 5. Team work and Collaboration |
| Describe Training and Development. | The process of improving employees’ skills, knowledge, and competencies through structured learning activities to enhance job performance and productivity. |
| Describe Motivation Strategies. | Motivation strategies are methods used by organizations to encourage employees to perform at their best by satisfying their financial, psychological, and social needs. |
| Describe Financial Rewards. | Providing bonuses, pay increases, or incentives to motivate employees. |
| Performance Appraisal is a ...... strategy. | HR strategy |
| Recruitment refers to .... | the process of finding the best qualified pool of applicants. |
| Selection refers to ..... | the process to determine whether to make a job offer to an application |
| Advertising for a new role in within the same organisation is an example of ................. recruitment | Internal |
| Advertising for a new role on a job agency website is an example of ................. recruitment | External |
| List 2 advantages of external recruitment. | 1. Larger pool of applicants 2. New ideas, skills and abilities |
| List 2 disadvantages of internal recruitment. | 1. Employees may be promoted before they are ready. 2. No introduction of new ideas, less creativity. |
| Some recruitment methods are ...... | 1. Websites 2. Online recruitment agencies 3. Social Media 4. Walk in applications |
| What are the first 3 steps in the selection process of applicants for a job? | 1. Receipt of application: through email, call 2. Initial screening: reading through applicants and shortlisting 3. Using interviews, online selection and testing to select best applicant |
| What are the last 3 steps in the selection process of applicants for a job? | 4. Reference Checking 5. Advise applicants of outcome 6. Evaluation of recruiment methods |
| 6Ps of marketing | Product Price Promotion Place People Presentation |
| Define product | A product is a good, service, experience, idea or information that can be offered in an exchange for the purpose of satisfying a need or want. |
| Define price | the monetary value customers pay for a good or service. |
| What are some pricing strategies that businesses use? | Psychological pricing – make prices appear lower e.g. $0.99 Complementary pricing – price one product low and its complementary products high. Cost based method = Price calculated based on cost of production and profit margin |
| Define place | making the product available to the customer, wherever the customer chooses or purchase it. |
| Define promotion | the use of advertising, branding, sales promotion and public relations to inform and persuade customers. |
| What does promotion mix refer to? | A promotion mix is the various methods used in a business’s promotional campaign. |
| What are some methods that businesses use to promote their product? | Personal selling Publicity and public relations Advertising Direct marketing Sales promotions |
| Define people. | All the people involved in the business who can have an impact on the marketing mix. |
| Define Presentation | The visible cues about a service or product's quality, like store ambiance, website design, packaging, staff appearance, and digital receipts |
| Define competitive advantage | Strategies used to make a business's products or services superior to its rivals, giving it an edge in the market by attracting more customers and generating higher profits. |
| What are some strategies that businesses use to achieve competitive advantage? | 1) Seamless ecosystem: businesses like Apple have devices that connect together easily making the customer experience pleasant. 2) Wide product range: Companies like Amazon have a range of products which attracts more customers. |
| What is public relations? | the way the business communicates with the public and the media with an aim to create and maintain a positive image and create a strong relationship with their audience. |
| What are some PR strategies that businesses use? | 1. Media Release and Press Conferences 2. Community Involvement and Sponsorships 3. Social Media Campaigns 4. Corporate Social Responsibility 5. Celebrity Endorsements and Influencer Partnerships 6. Crises Management 7. Events and Launches |
| How does social media campaigns help promote PR? | Reaches young audiences Emotional storytelling builds strong brand loyalty |
| How does celebrity endorsements help promote PR? | Teens trust influencers they follow Creates fun, shareable content |
| How does crisis management help promote PR? | Shows honesty and willingness to change Helps rebuild customer trust |
| Define globalisation. | Globalisation is the process of countries becoming more connected through trade, technology, travel and communication. |
| Define multinational corporations | Multinational corporations (MNCs or TNCs) are large companies that operate in many countries. |
| Define international supply chains. | An international supply chain is the network of production, manufacturing, transport and distribution that happens across several countries. |
| Advantages of international supply chains. | lower production costs access to skilled workers and advanced technology faster innovation and production larger global markets variety for consumers |
| Disadvantages of international supply chains. | ethical issues (unsafe work conditions) environmental impact loss of local jobs supply chain disruptions overreliance on other countries |
| Describe 2 strategies that Aboriginal and Torres Strait Islander Businesses use | 1. Unique branding that relies on cultural identity. For instance, using Aboriginal art in design. 2. Sustainable and ethical production practices. E.g. working local Elders to preserve local sights. |
| How does the use of e-commerce and online platforms help Aboriginal and Torres Strait Islander Businesses | Reaches customers worldwide Promotes Indigenous culture to international audiences Reduces business costs |
| What must people include in their resume? | Contact details Opening statement List of key skills List of technical/software skills Personal attributes/career overview Educational qualifications Employment history/volunteering/work placements References/referees |
| What shouldn't people include in their resume? | Typos/factual errors Images and graphics Content in headers Fancy formatting Information in tables |
| What is trade union? | Trade unions are organisations that represent workers’ interests. They advocate for workers' rights such as fair wages, safer workplaces, and reasonable hours. |
| What is a employer group? | Employer groups are organisations that represent businesses in negotiations and policy discussions. |
| Define what technological considerations are | Technological considerations relate to the growing use of tools, techniques or systems by businesses to solve problems or to serve a purpose in operations. |
| Advantages of innovations and developments in technology? | improves productivity - removes repetitive tasks and reduces errors can contact and share information with customers quickly about new products easier communcation so businesses can work with different teams to design, produce and distribute |
| Disadvantages of innovations and developments in technology? | reduction of jobs product cycles becoming shorter as constant updates are required |
| What kind of technological did Canva use to innovate and develop their business model? | Cloud Computing - storing designs online Artificial intelligence Collaboration technology |
| What changing market conditions did Canva respond to? | 1. Growth of digital marketing 2. Remote Work and Online Learning 3. Growth of Artificial Intelligence |
Created by:
Miss JM