Half time business homwork

Market mapping:selecting the key variables that differentiate the brands within a market and then plotting the position of each one

Market segmentation: analyse the market the identify different types of consumers

Brand positioning: The distinctive position that a brand adopts in its competitive environment to ensure that individuals in its target market can tell the brand apart from others.


Advertising elasticity:measures the extend to which change in ADspending affect demand (%change in demand /% change in ADspending)

Cash flow: the difference between incashflow and outcashflow

Loss leader:product sold at less than cost to attract consumer to a product range

Adverse variance: this is a change from a budgeted figure that leads to lower than expected profit

Net profit margin: net profit which is a percentage of the sales revenue

Organisation structure:the relationship between different people and functions within an organisation

Off the job training:away from the place of work

On the job training:learning by doing the job

Person specification:which kind of person the company will employ

Induction:is an introductory training programme designed to familiarise new recruits

Empowering employees:person who has the power to do the job

Job enrichment:is where the job is expanded vertically by giving the worker more responsibility

Job enlargement:expanding the number of tasks completed by an employee

Capacity utilisation:is the percentage of a firm`s total possible production level that is being reached

Rationalisation:reorganising resources to cut costs

Quality control:this is based on inspection of the product or a sample of products

Quality assurance:this is a system of agreeing and meeting quality standards at each stage of production to ensure consumer satisfaction

Productivity:output per person per a period of time

Product portfolio analysis:analysing the existing product mix to help develop a balanced range of goods and services

Price taker:a firm which sets its prices at the same or similar level to those of the dominant firm in the industry

Personal inflation calculator

As a piece of homework,I found this advanced software"Personal Inflation Calculator"
A poor person,such as me...here is the result.We can see the differences..
My personal inflation :1%
Official inflation :1.6%
Which means Official inflation is more than my personal inflation

LET`S see median income people(my host mother)


And finally upper income people(BECKHAM)

The difference is 0.3%,it`s acceptable number...

STRINGS ATTACHED

LONZIM(company report)

website:www.lonzim.co.uk
”000
Revenue 290
Cost of sales 107

Gross profit 183
Other operation income 52
Operation cost (620)

Operation loss before financing income (385)
Finance income 503
Finance expenses (18)

Net finance income 485

Loss before tax (699)
Income tax （17）

Assets
Business combinations 3561
Non-compete agreement 6554
Property plant and equipment 373

Liabilities
Interest bearing loans and borrowing 138
Deferred tax liabilities 21

Cash flow from operation activities (385)
Cash paid for inventories (11)
Increase in trade and other receivables 190
Increase in trade and other payables 512
Cash expensed from operations (74)
Interest paid (18）

Net cash flow from activities （92）

question 1

Question 1 - The Nostalgic Lamp Company
The Nostalgic Lamp Company manufactures three types of lamp: Mr T., Gloria Gaynor and Donny Osmond models. Production of the lamps are organised into three costs centres. The profit and loss account for the year just ended shows that the Donny Osmond makes a loss and it has been suggested that they may be discontinued.

£000s Mr T Gloria Gaynor Donny Osmond

Sales 500 350 650
Direct Materials 150 80 250
Direct Labour 100 100 250
Variable overheads50 40 60
Fixed overheads 100 80 110
Totals costs 400 300 670
Profit/loss 100 50 (20)

Questions
1. Define the term ‘cost centre.’ (2 marks)
2. What are the pros and cons of using costs centres in dealing with costs? (4 marks)
3. From the above schedule of costs and profits:-
a) Calculate the variable cost of producing the each of the three lamps (3 marks)
b) Calculate the contribution of each of the three lamps (3 marks)
c) Calculate the total fixed costs (1 mark)
d) Calculate the overall level of profits. (2 marks)
4. The Donny Osmond lamp is discontinued. Evaluate the impact on the company’s overall profits

answer:
1.cost centrer:a department or section of an organisation to which specific costs can be allocated
2.pros:
(1).team spirit is easier to generate among 20 people than among 2000
(2).by identifying the costs generated by each department,the firm is better able to decisions(3).bucause the costs can be allocated,so it`s easy to collect the money.
cons:
1.maybe after a long time there will be some impacts.
2.YOU should give each individual benefit,maybe some argument appears,bucause of personal

business in china

what advice when businesses want to start up in china? why not?
china is a big cake! huge population!giant market!
But it`s quite different from eastern countries.
If you want to sell produce to china
I think it is the most improtant to know chinese history,from the history you will know want is the date for celebrition.what`s the personality.chinese are gentle not passion.we believe friends.
if you have chinese friends they will treat your problem as their problem.
And your goods must be cheaper and cheaper!!!And you can have some activities like BOGOF,discount,big sale,25%extra free{people like these words}remember:you have thousands of compititors from other companys {except your productions are fancy!}

Another special thing when you want to have a coopreation with other companys is
you must treat them for dinner in a big restaurant.you must drink a lot a lot a lot.if you get drunk other companys will think you are honest to together with!don`t care to confirm your contract.it`s going to happen tomorrow!your have already got it!
here are some advice:{for store or supermarket}
1. don`t sells goods which is luxurious{the tax of luxurious goods in china is 200%}most of people won`t but it!except you have enough money .it have risk .
2. you should have more goods from many counyries.such as:candy{for children}cookie.and so on
3. more sale!more discount!more BTGTF{buy two get two free}! in one or two days! because time is limited so more and more people will be carzy!
4.you should have a factory in china where is in the countryside or somewhere far from city because the rent charge in center is 5 times expensive than countryside.
5.more chain stores:image!one truck transports the produces to one store and one truck transports the produces to 100 stores.which is cheaper!
6.you must have your own spicific style to attract people to buy your produces.think what chinese really need or want !catch their heart!

that what I must mention you!

start business

This is my first blog!
It is quite complex to start writting my first blog!
Next we`re going to go to our new buliding!{hope}
In a word,I start it!