Free QCE Business Flashcard Review

1. Introduction: New product/service launch, high costs, low sales, market testing. 2. Growth: Increased demand, rising profits, market expansion. 3. Maturity: Peak sales, stabilised profits, competitive pressure. 4. Decline: Falling sales, reduced profits, market saturation or obsolescence.

Peak sales volumes and market share; stabilised or declining profit margins; established customer base; intense competition; brand loyalty becomes critical; marketing focuses on differentiation; may diversify or reposition products to extend lifecycle.

An employer recognised for superior employment practices, offering competitive salaries, professional development, positive workplace culture, work-life balance, and employee well-being initiatives. Attracts and retains high-calibre talent; builds competitive advantage through human capital.

Competitive remuneration and benefits; clear career progression pathways; flexible work arrangements; strong organisational values and culture; investment in training and development; employee recognition programs; inclusive and diverse workplace; health and wellness support.

1. Physiological (food, shelter, safety). 2. Safety (job security, stability). 3. Social/Belonging (community, teamwork, relationships). 4. Esteem (recognition, responsibility, status). 5. Self-actualisation (personal growth, fulfilment, achievement).

Hygiene factors (salary, working conditions, job security) prevent dissatisfaction but don't motivate. Motivators (achievement, recognition, responsibility, growth) create satisfaction and drive performance. Absence of hygiene factors causes dissatisfaction; presence of motivators creates engagement.

Workers motivated primarily by financial incentives (pay). Efficiency and productivity maximised through time-motion studies, standardised procedures, and piece-rate wages. Views workers as economic units; emphasises task specialisation and management control over discretionary effort.

1. Autocratic: Manager decides unilaterally, minimal consultation. 2. Paternalistic: Manager makes decisions in perceived best interest of staff. 3. Consultative: Manager seeks input before deciding. 4. Participative: Staff involved in decision-making process. 5. Democratic/Laissez-faire: Staff largely self-directed, manager facilitates.

During crises requiring rapid decisions; with inexperienced or unengaged workforces; in high-risk industries (construction, emergency services); when strict compliance is essential; when clear direction and accountability are needed immediately.

When staff are skilled and experienced; in creative industries requiring innovation; during change management requiring buy-in; when workplace culture and morale matter; for developing future leaders; in knowledge-based roles where autonomy drives performance.

Producing goods/services domestically and selling them overseas. Low investment and risk; retains control over production; allows gradual market testing. Challenges: tariffs, logistics, currency fluctuation, limited market knowledge, cultural barriers.

Partnership between domestic and foreign firms to jointly develop, produce, and market products in a target market. Shares investment, risk, and expertise; provides market knowledge and local connections; reduces capital requirement but involves loss of control and profit-sharing.

Establishing subsidiaries, manufacturing facilities, or acquiring companies in foreign markets. High investment and risk; full control over operations; significant market commitment. Advantages: tariff avoidance, local employment, long-term market presence.

Licensing: Domestic firm allows foreign firm to produce/sell product using IP (patents, trademarks). Franchising: Comprehensive business model transfer including systems, training, brand, quality control. Both low-investment strategies; licensing offers less control; franchising ensures brand consistency.

Formal agreement between firms to collaborate on R&D, marketing, or production without equity stakes. Lower commitment than joint ventures; flexible; shares knowledge and risk. Common in technology and pharmaceuticals; allows rapid market entry without large capital outlay.

Purchasing or merging with an existing foreign firm. Provides immediate market access, established customer base, and operational infrastructure. High capital requirement; significant integration risk; regulatory scrutiny; fast market penetration compared to greenfield investment.

Outsourcing production to foreign manufacturers while retaining brand and marketing control. Minimal capital investment; flexibility in volume and location; reduces risk. Trade-offs: quality control challenges, dependency on external producers, limited IP protection.

Building new facilities and operations from scratch in a foreign market. Highest capital investment and longest timeframe; full control over design, technology, and culture; highest risk if market fails; strongest long-term commitment signal.

Increasing market share in existing markets with existing products. Low risk; uses established distribution and production. Examples: Woolworths expanding store numbers in Australia; Coca-Cola increasing shelf space. Requires competitive pricing, improved marketing, product quality differentiation.

Creating new products for existing markets. Moderate risk; leverages established customer base and distribution. Examples: Apple launching iPad to existing customers; Telstra launching 5G services. Requires R&D investment; builds on brand loyalty and market knowledge.