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Variances
Variances (variance analysis) (AO2, AO4) (HL only) A variance refers to a discrepancy between the planned (budgeted) item of expenditure or revenue and the actual amount. For example, if Warner Bros. Studios...
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Data mining
Data mining (AO3) “The goal is to turn data into information, and information into insight.”- Carly Fiorina (b.1954), former CEO of Hewlett-Packard Data mining is the management process of using data...
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The importance of branding
The importance of branding (AO2) "A brand for a company is like a reputation for a person. You earn reputation by trying to do hard things well."- Jeff Bezos (b.1964), Founder and CEO of Amazon.com Take...
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Difference between crisis management & contingency planning
The difference between crisis management & contingency planning (AO2) Fire drills are part of contingency planning A crisis can be defined as any unpredicted event that has widespread negative consequences....
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The importance of Research & Development (R&D)
The importance of Research & Development (R&D) for a business (AO3) "Many of life's failures are people who did not realize how close they were to success when they gave up."- Thomas Edison (1847 - 1931),...
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Impact of contingency planning
The impact of contingency planning for a given organization or situation (AO3) "Anything that can go wrong will go wrong" - Murphy’s Law Recall that a crisis is any major event that has significant negative...
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Factors that affect effective crisis management
The factors that affect effective crisis management (AO2) "It'll take time to restore chaos."- George W. Bush, 43rd President of the USA (2001 - 2009) Crisis management is about how a business organization...
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Methods/techniques of secondary market research
Methods / techniques of secondary market research (AO2) Secondary research, also known as desk research, refers to the collection of data and information that was previously collected by another source,...
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Quality control & quality assurance
Features of quality control and quality assurance (AO1) "Quality is remembered long after price is forgotten."- Aldo Gucci (1905 - 1990), former Chairman of Gucci (1953 - 1986) "In this world, you get...
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The role of operations management
The role of operations management (AO2) Operations management is about the management process of creating goods and services that people want to purchase, using the resources that are available to the...