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Friday 8 January 2010

Advantages of Market Segmentation

Less money lost advertising to everybody rather that just to one specific segment.

You can charge more for your product or service, because it is exactly what this specific segment requires.

It may be the only product of this type on the market therefore there is no competition.

The customers are all satisfied, because the get the product they want.

They can make a more specific product for their target market and therefore can make it more expensive to buy.

Ensuring product is sold in appropriate places, appropriate promotions are offered.

What is the role of Trade Unions and ACAS

Trade Unions

A trade union (or labor union) is an organization of workers who have banded together to achieve common goals in key areas, such as working conditions. (copy and paste much CHEEETERS)

The main service a union provides for its members is negotiation and representation. There are other benefits people get from being members of trade unions.
· Negotiation
· Representation
· Information and advice
· Member services


ACAS

The Advisory, Conciliation and Arbitration Service is a publicly funded agency that gives advice to both employers and employees on industrial relations problems. It offers guidance, upon request where there is an argument between a worker and an employer. It produces helpful Codes of Guidance on issues such as disciplinary procedures.

The Advisory, Conciliation and Arbitration Service (Acas) is a Crown non-departmental public body of the Government of the United Kingdom. Its purpose is to improve organisations and working life through the promotion and facilitation of strong industrial relations practice.

Explain the various means of sampling

Random sampling – people are stopped at random to fill in surveys

Quota sampling – surveys are sent to hand picked people and the percentage represents the population of the UK

Employment legislation

Health and safety at work act 1974

To make further provisions for securing the health and safety and welfare of a person at work, for protecting others against risks to health of safety in connection with the activities of someone at work.


Race relations act 1976

The parliament if the UK established the race relations act in order to abolish discrimination on the grounds of race, colour and ethnic religion.



Equal pay act 1970
The Equal Pay Act 1970 is an Act of the United Kingdom Parliament which prohibits any less favourable treatment between men and women in terms of pay and conditions of employment. The law came into force in 1975. it has been amended on a number of recent occasions.

Explain measures organizations can take to ensure they produce a quality service or product.

Quality Assurance – At certain point s in the production process products are checked to ensure that they meet agreed quality standards. All aspects of production - is the process of comparing the business processes including cost, cycle time, productivity, or quality to another that is widely considered to be an industry standard benchmark or best practice. It provides a snapshot of the performance of your business and helps you understand where you are in relation to a particular standard.


Quality Control – the product is checked at the end of production.

Quality circle – people from different areas of the company from managers to cleaners have a meeting to express there concerns about problems in the company and try to find a solution to the problem

TQM – The Product is checked at every stage of the production process to ensure that all the duds are dumped at the start of the process and all of the unfaulty products continue on and are eventually sold faultless to the customers which saves reputation as the customer will buy a good product.

Benchmarking
The process of comparing the business processes and performance metrics including cost, cycle time, productivity, or quality to another that is widely considered to be an industry standard benchmark or best practice. Essentially, benchmarking provides a snapshot of the performance of your business and helps you understand where you are in relation to a particular standard. The result is often a business case and "Burning Platform" for making changes in order to make improvements. The term benchmarking was first used by cobblers to measure people's feet for shoes. They would place someone's foot on a "bench" and mark it out to make the pattern for the shoes. Benchmarking is most used to measure performance using a specific indicator (cost per unit of measure, productivity per unit of measure, cycle time of x per unit of measure or defects per unit of measure) resulting in a metric of performance that is then compared to others.

Describe a selection process which may be used to ensure the best applicants are appointed.

· Interview
· Application Forms
· Attainment tests
· Aptitude tests
· IQ Tests
· Psychometric tests

TEACHER COMMENT

This is not describe!

Carousel Questions on the 7th January

After this post there will be some answers generated and developed by students for some revision questions.