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| Question | Answer |
|---|---|
| Define; Marketing | Meeting customer needs through promoting and selling products |
| Define; competitive advantage | What a business does better than its competitors: lower prices & better customer service |
| Define; Public Relations (PR) | managing a business's public image and reputation to build good relationship with the public |
| Define; Human Resource Management (HRM) | managing employees to help a business achieve its goals |
| Define; Globalisation | Growing connection between countries through TRADE TECH and COMMUNICATION |
| Define; Multinational (Transnational) Corporation | Business operating a multiple countries |
| Define; International Supply Chain | global process of getting products from suppliers to customers across different countries |
| Define; Recruitment | finding and hiring suitable employees |
| Define; Selection | choosing the best applicant for a job from a large pool |
| Define; Trade Unions | groups protecting workers rights and interests as well as working conditions |
| Define; Employer groups | organisations that represent employers in negotiations and political discussions about workplace issues |
| Identify the 6 Ps of Marketing | People, Place, Price, Promotion, Packaging, Product |
| Explain the 6 Ps: People | employees who provide customer service and help business succeed |
| Explain the 6 Ps: Place | Where and how products are distributed so customers can purchase them. |
| Explain the 6 Ps: Price | The amount of money customers pay for a product or service |
| Explain the 6 Ps: Promotion | The methods used to advertise and inform customers about a product. |
| Explain the 6 Ps: Packaging | The materials and design used to contain and protect a product and attract customers. |
| Explain the 6 Ps: Product | The goods or services a business sells to satisfy customer needs and wants. |
| Explain 2 was a business can achieve competitive advantage | offering low prices better customer service |
| Select 3 PR strategies and how they maintain positive brand image | corporate social responsibility - supporting communities and environment social media - share positive content and engaging customers sponsorships - supporting events/teams |
| Identify and explain two advantages and disadvantages of international supply chains | good - more products - access to products in other countries good - specialisation - countries can focus on producing what they make best bad - delays bad - higher cost- international shipping can be expensive |
| Identify and describe two strategies that aboriginal and torres strait islanders owned businesses use | cultural tourism - sharing atsi culture through tours and experiences community partnerships - worknig with indigenous communities to create jobs and support locals |
| Identify 2 hr strategies and explain how it promotes productivity in the workplace | training - improves worker skills for efficiency performance appraisals - identifying areas for improvement |
| Define; internal recruitment | Filling a job vacancy by hiring an EXISTING employee within the business. |
| Define; External recruitment | Filling a job vacancy by hiring someone from OUTSIDE the business. |
| Evaluate effectiveness of internal recruitment | cheaper and faster but limits new ideas |
| Evaluate effectiveness of external recruitment | brings new skills and ideas but cost more and takes longer |
| Describe how technological developments can impact the way a business operates. Discuss both the benefits and drawback of these developments | tech helps business to work faster, reduce costs but it can be expensive and may cause job loss |
| Describe two type of information that are appropriate for a resume and explain why one type of information is inappropriate to include | appropriate - contact details, work experience & skills inappropriate - religion |
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