OPERATIONS

Role"DIG Chicks"

D - Differentiation (part of strategic role)I - Interdependence w/ other KBFsG - Goods and services in other industriesC - Cost leadership (other part of strategic role)

Influences"GTG le coq" + CSR

G - GlobalisationT - TechnologyG - GovernmentL - Legal regulationsE - EnvironmentalCo - Cost-based competitionQ - Quality expectations

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

ProcessesHaven't got any for processes, sorry, other than the 4 V's under transformation processes (influence ofVolume,Variety,Visibility andVariation in demand.

Strategies"POGO SQUINT"P - Performance objectivesO - OutsourcingG - Global factorsO - Overcoming resistance to changeS - Supply chain managementQu - Quality managementI - Inventory managementN - New product/service design and developmentT Technology

Performance Objectives"Quesadilla Football Club" (i think that's some mexican food, pronounced kay-sa-dee-a)Q - QualityS - SpeedD - DependabilityF - FlexibilityC - CustomisationC Cost

MARKETING

Role"Tasi" (pronounce tah-see)

T - Types of marketsA - Approaches to marketingS - Strategic roleI - Interdependence

Influences"Feck"

F - Factors influencing customer choiceE - EthicalC - Consumer laws

Factors Influencing Customer Choice"Pegs"P - PsychologicalE - EconomicG - GovernmentS - Sociocultural

Ethical"Tapes"T - Truth,A - Accuracy and good taste in advertisingP - Products that may damage healthE - Engaging in fair competitionS - Sugging

Consumer Laws"WIPD" (pronounce whipped)W - WarrantiesI - Implied conditionsP - Price discriminationD - Deceptive and misleading advertising

Processes"SMEIDI" (pronounce smeedy)

S - Situational analysis (SWOT and product lifecycle)M - Market researchE - Establish marketing objectivesI - Identify target market(s)D - Develop marketing strategiesI - Implement, monitor and control

Strategies"4 P's + PEG"

4 P's -Product,Price,Promotion andPlace (channels of distribution)P - People, processes and physical evidenceE - E-marketingG - Global marketing

FINANCE

Role

Objectives"PLEGS" (pronounce pee-legs; our teacher even told us to imagine someone with pee running down their leg)P - ProfitabilityL - LiquidityE - EfficiencyG - GrowthS - 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 - InstitutionsG - GovernmentG - Global market influences

Financial Institutions"Buf sail"B - BanksU - Unit trustsF - Finance companiesS - Superannuation fundsA - Australian Securities ExchangeI - Investment banksL - Life insurance companies

Processes"PIMFLE" (pronounce pim-full)

P - PlanningI - and ImplementingM - Monitoring and controllingF - Financial ratiosL - Limitations of financial reportsE - Ethical issues related to financial reports

Planning and Implementing"Red andBlueCorner"R - Record systemsB - BudgetsC - Financial controlsN - Financial needsR - Financial risks

Limitations of Financial Reports"DR CEN has TINEA"DR - Debt repaymentsCE - Capitalising expensesN - Notes to financial statementsTI - Timing issuesNE - Normalised earningsA - Asset valuation

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

G - Global financial managementW - Working capital managementC - Cash flow managementP - Profitability management

Global financial management"Hm, die"H - HedgingM - Methods of international paymentD - DerivativesI - Interest ratesE - Exchange rates

HUMAN RESOURCES

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

O - OutsourcingH - Human resources functionU - Using contractorsS - Strategic roleI - Interdependence

Influences"STEELS"

S - StakeholdersT - TechnologicalE - EconomicE - Ethics and CSRL - LegalS - Social

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

A - AcquisitionD - DevelopmentM - MaintenanceS - 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 managementR - Recruitment (internal/external; general/specific skills)T - Training and development (current/future)L - Leadership styleG - 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 satisfactionA - AbsenteeismT - TurnoverB - Benchmarking key varialbesL - Levels of disputationA - AccidentsC - Corporate culture