Acronym dump! (2 Viewers)

[Krad]

hey guys, just wondering if you have any useful acronyms that can help memorise the syllabus?

PUT THEM ALL HERE

 

[mitchellwright8]

OPERATIONS

Role
"DIG Chicks"

D - Differentiation (part of strategic role)
I - Interdependence w/ other KBFs
G - Goods and services in other industries
C - Cost leadership (other part of strategic role)

Influences
"GTG le coq" + CSR

G - Globalisation
T - Technology
G - Government
L - Legal regulations
E - Environmental
Co - Cost-based competition
Q - Quality expectations

CSR - Corporate social responsibility
- legal v ethical
- env. sustainability and social responsibility

Processes
Haven't got any for processes, sorry, other than the 4 V's under transformation processes (influence of Volume, Variety, Visibility and Variation in demand.

Strategies
"POGO SQUINT"
P - Performance objectives
O - Outsourcing
G - Global factors
O - Overcoming resistance to change
S - Supply chain management
Qu - Quality management
I - Inventory management
N - New product/service design and development
T - Technology

Performance Objectives
"Quesadilla Football Club" (i think that's some mexican food, pronounced kay-sa-dee-a)
Q - Quality
S - Speed
D - Dependability
F - Flexibility
C - Customisation
C - Cost

 

[mitchellwright8]

MARKETING

Role
"Tasi" (pronounce tah-see)

T - Types of markets
A - Approaches to marketing
S - Strategic role
I - Interdependence

Influences
"Feck"

F - Factors influencing customer choice
E - Ethical
C - Consumer laws

Factors Influencing Customer Choice
"Pegs"
P - Psychological
E - Economic
G - Government
S - Sociocultural

Ethical
"Tapes"
T - Truth,
A - Accuracy and good taste in advertising
P - Products that may damage health
E - Engaging in fair competition
S - Sugging

Consumer Laws
"WIPD" (pronounce whipped)
W - Warranties
I - Implied conditions
P - Price discrimination
D - Deceptive and misleading advertising

Processes
"SMEIDI" (pronounce smeedy)

S - Situational analysis (SWOT and product lifecycle)
M - Market research
E - Establish marketing objectives
I - Identify target market(s)
D - Develop marketing strategies
I - Implement, monitor and control

Strategies
"4 P's + PEG"

4 P's - Product, Price, Promotion and Place (channels of distribution)
P - People, processes and physical evidence
E - E-marketing
G - Global marketing

 

[mitchellwright8]

FINANCE

Role

Objectives
"PLEGS" (pronounce pee-legs; our teacher even told us to imagine someone with pee running down their leg)
P - Profitability
L - Liquidity
E - Efficiency
G - Growth
S - Solvency (aka gearing)

Strategic Role
"FID"
F - Finance decisions (where do we get money from?)
I - Investment decisions (what should we do with our money to generate more income?)
D - Dividend decisions (how do we distribute any earnings?)

Influences
"Sigg"

S - Sources of finance (internal v external)
I - Institutions
G - Government
G - Global market influences

Financial Institutions
"Buf sail"
B - Banks
U - Unit trusts
F - Finance companies
S - Superannuation funds
A - Australian Securities Exchange
I - Investment banks
L - Life insurance companies

Processes
"PIMFLE" (pronounce pim-full)

P - Planning
I - and Implementing
M - Monitoring and controlling
F - Financial ratios
L - Limitations of financial reports
E - Ethical issues related to financial reports

Planning and Implementing
"Red and Blue Corner"
R - Record systems
B - Budgets
C - Financial controls
N - Financial needs
R - Financial risks

Limitations of Financial Reports
"DR CEN has TINEA"
DR - Debt repayments
CE - Capitalising expenses
N - Notes to financial statements
TI - Timing issues
NE - Normalised earnings
A - Asset valuation

Strategies
"Good Work Charlie's Penis" (mature, I know, but whatever works)

G - Global financial management
W - Working capital management
C - Cash flow management
P - Profitability management

Global financial management
"Hm, die"
H - Hedging
M - Methods of international payment
D - Derivatives
I - Interest rates
E - Exchange rates

 

[mitchellwright8]

HUMAN RESOURCES

Role
"OHUSI" (I'm a huge Dave Hughes fan, so in my head I say this like Oh, Hughesy!)

O - Outsourcing
H - Human resources function
U - Using contractors
S - Strategic role
I - Interdependence

Influences
"STEELS"

S - Stakeholders
T - Technological
E - Economic
E - Ethics and CSR
L - Legal
S - Social

Processes
"ADMS" (I think of it as Adams)

A - Acquisition
D - Development
M - Maintenance
S - Separation

Strategies
"PaRTLy GRaDD" (I think of it as partly gradd, and then just lose all the vowels as well as the 'y')

P - Performance management
R - Recruitment (internal/external; general/specific skills)
T - Training and development (current/future)
L - Leadership style
G - Global (costs, skills, supply)
R - Rewards (monetary/non-monetary; individual/group; performance pay)
D - Design (ie job design; general or specific)
D - Dispute resolution

Effectiveness of Human Resource Management

Indicators
"What black" (again, it's important to remember which letters aren't part of the acronym)
W - Worker satisfaction
A - Absenteeism
T - Turnover
B - Benchmarking key varialbes
L - Levels of disputation
A - Accidents
C - Corporate culture

 

[mitchellwright8]

Soo, yeah, that's all mine (some of them we developed as a whole class). By no means a comprehensive list, but it covers a fair bit of the syllabus. And remember, this list is only worthwhile if you understand and can write about each of the items. Being able to name all 8 human resource strategies will maybe earn you one or two marks in an essay, the rest relies on understanding them.

Best of luck to everyone for Thursday morning.

 

[crazy_paki123]

dude these are gold

 

[heyhsc]

thanks so much for the acronyms!

 

[KierenTran]

Thanks! They are so useful!

 

[mitchellwright8]

Hey guys I just noticed that I missed out 'Ethical issues related to financial reports' under Financial Processes I've edited the post to now include it, but for those of you who've already copy/pasted and/or started learning them, my apologies.

 

[mitchellwright8]

If you'd prefer a word document with all of the acronyms you can download a copy here:

https://docs.google.com/open?id=0B4XzAN-sCydNdndLN1ljSF9rVEU

 

[manutd2564]

This is gold...thanks a lot

 

[fullychilled]

lol this is amazing

 

[Rawf]

Operations influences
Good teddy quails conceived gobbly little eggs, cool!

Globalisation, technology, quality management, cost based competition, government, legal, environment, csr

I'm sorry if mine sounds really stupid LOL

 

[pacey0006]

thanks heaps

 

[SuperSemen]

Should've remembered this earlier, not on the day of the exam, 8 hours before, HAHA

 

[jnathan10]

HUMAN RESOURCES

Role
"OHUSI" (I'm a huge Dave Hughes fan, so in my head I say this like Oh, Hughesy!)

O - Outsourcing
H - Human resources function
U - Using contractors
S - Strategic role
I - Interdependence

Influences
"STEELS"

S - Stakeholders
T - Technological
E - Economic
E - Ethics and CSR
L - Legal
S - Social

Processes
"ADMS" (I think of it as Adams)

A - Acquisition
D - Development
M - Maintenance
S - Separation

Strategies
"PaRTLy GRaDD" (I think of it as partly gradd, and then just lose all the vowels as well as the 'y')

P - Performance management
R - Recruitment (internal/external; general/specific skills)
T - Training and development (current/future)
L - Leadership style
G - Global (costs, skills, supply)
R - Rewards (monetary/non-monetary; individual/group; performance pay)
D - Design (ie job design; general or specific)
D - Dispute resolution

Effectiveness of Human Resource Management

Indicators
"What black" (again, it's important to remember which letters aren't part of the acronym)
W - Worker satisfaction
A - Absenteeism
T - Turnover
B - Benchmarking key varialbes
L - Levels of disputation
A - Accidents
C - Corporate culture

Sweet

 

[jmoyo]

You're a legend!!

 

[smoovemove]

Cheers man much appreciated!

 

[Username is in use]

Hey guys heres a whole bunch of acronym's hope they help!!

Business Studies (RIPS)- this acronym is referring to the beginning of each main area of each Biz Function!
Operations
Roles: SIP
Influences: CCLEGGQT
Strategies: SPORTING Q
S- LEG
P- (Queensland staff don't feed children coke- (QSDFCC)
G- REGS

Marketing
Roles: Tips
Influecnes: FEC
F- PEGS
E- TPES (pronounced- Teapees)
C- WIPD (pronounced- Wiped)
Processes: SMEIDI (prounounced- Shmedee)
Strategies: 4p's + PEGS

Finance
Roles: SOI
Influences- FIGS
F- Failbus
I- AT
G- AEI
S- Sources of finance, Debt Ext-(short term-COF, Long Term-MUDL) Equity- Ordinary shares (SPRN) think sprain
Processes: FLEM P
Ethical Issues- RAAM
M- BIC
Strategies- PGCW (like pg movie rating than CW)...

Human Resources
Roles- SOI
Influences- STEELS
Processes- ADAMS (without vowel A so its ADMS)
Strategies- LARGE TRAP JAW (without vowels! so without a and e!)
Effectiveness- BOA WICC or CAB WICO etc!
GOOD LUCK!