COBA Exam
Marketing Concept Social and economic justification for an organization's existence is the satisfaction
of customer wants and needs while meeting organizational objectives
Elements of a Marketing Plan - Business Mission Statement
- Situation, or SWOT, Analysis
- Objectives
- Marketing Strategy
- Implementation Evaluation Control
Marketing Mix - Product
- Price
- Place
- Promotion
Market Segmentation Process of dividing a market into meaningful, relatively similar, and identifiable
segments or groups
Target Market - Group of people or organizations for which an organization designs, implements,
and maintains a marketing mix
- Meeting its needs results in mutually satisfying exchanges
- Most likely to buy
Marketing Positioning The process of defining the marketing mix variables so that target customers have a
clear, distinctive, desirable understanding of what the product does or represents in
comparison with competing products.
Start of OPMA 3306 ...
Operations and Supply Chain Management (OSCM) The design, operation, and improvement of the systems that create and deliver the
firm's primary products and services
Forecasting the basis of corporate planning and control
Strategic Forecasts Medium- and long-term forecast used to make decisions related to strategy and
estimating aggregate demand
Tactical Forecasts - The goal is to estimate demand in the short-term (a few weeks or months)
- Are important to ensure that in the short-term we are able to meet customer lead-
time expectations and other criteria related to availability of products and services
4 Basic Types of Forecasting - Qualitative
- Time Series
- Causal Relationships
- Simulation
Qualitative Forecasting - take advantage of knowledge of experts and require judgment
- useful when relative data are N/A
Causal Forecasting - dependent variable is related to one or more independent variables
- independent variables are assumed to "cause" the results observed in the past
, COBA Exam
Naive Forecasts Forecast for the next period equals the demand for the current period (F = Dt)
Simple Moving Average definition - Forecast based on average past demand
- Useful in removing random fluctuations for forecasting
- Oldest period is discarded each time a new forecast is made
Simple Moving Average formula - Ft = (At-1 + At-2 + At-3 +...+At-n) / n
- Ft = forecast for coming period
- n = number of periods to be averaged
- At-x = actual occurrence x periods ago
Weighted Moving Average formula - Ft = w1(At-1) + w2(At-2) + ... + wn(At-n)
- w = weight
- n = total number of prior periods in forecast
- At-x = actual occurrence x periods ago
Exponential Smoothing - Most logical method to use if the importance of data diminishes as past becomes
more distant
- Most used of all forecasting techniques
Exponential Smoothing Formula - Ft = Ft-1 + α(At-1 - Ft-1)
- Ft-1 = forecast for prior period
- At-1 = actual demand in prior period
- α = desired response rate/smoothing constant
Forecast Error - the difference between actual demand and the forecast
- all forecasts contain some level of error
Start of BLAW3310 ...
Corporation a business that has its own legal identity and is created under state law
General Partnership association of two or more persons to carry on a business for a profit
Limited Partnership - business organization made up of two or more persons who have agreed to carry
on business for a profit
- has one general partner, the rest are limited partners
How is Limited Partnership different from a General unlike general partnerships:
Partnership? - not all partners have right to participate in management of enterprise
- not all partners are liable for debts
General partners vs. Limited partners - general partners run the business, while limited partners just put money into the
business
- limited partners are not liable for debts
Limited Liability Company (LLC) a form of business ownership that offers both limited liability to its owners and
where profits are only taxed once
, COBA Exam
Instead of shareholders, Limited Liability Companies Members
have.....
Contract the legal relationship consisting of the rights and duties of agreeing parties that
arise from promises exchanged.
Elements of a Contract - agreement (offer and acceptance)
- consideration
- contractual capacity
- legality
- genuine consent
Offer a promise to do something or to refrain from doing some specific thing
Requirements of an Offer - there must be a clear intent by the offeror to become contractually bound
- the basic terms and conditions of the offer must be clear and certain
- the offer must be properly communicated
What type of jurisdiction do Federal District Courts have? Original jurisdiction
Subject-Matter Jurisdiction in State Court includes requirements on amount in controversy and areas of the law the court may
cover
Subject Matter Jurisdiction in Federal Court federal courts may only hear cases within judicial power of the United States, that
is, they have judicial power to hear cases involving a federal question
Personal Jurisdiction A court's authority over the parties to a lawsuit. Is it fair to bring defendant before
the court.
OSHA (Occupational Safety and Health Administration) - regulates health and safety in the workplace
- ex: requirement of hard hats on construction site
Start of BCOM3360 ...
Common Mistake for Resumes and Cover Letters - Try to showcase all skills and achievements
- Can lead to scattered message and dilute the focus on key abilities and attributes
Resume Length Preference - Single-page
Resume sections - Name block
- Summary or objective (optional)
- Education
- Work experience or employment history
- Additional information
Marketing Concept Social and economic justification for an organization's existence is the satisfaction
of customer wants and needs while meeting organizational objectives
Elements of a Marketing Plan - Business Mission Statement
- Situation, or SWOT, Analysis
- Objectives
- Marketing Strategy
- Implementation Evaluation Control
Marketing Mix - Product
- Price
- Place
- Promotion
Market Segmentation Process of dividing a market into meaningful, relatively similar, and identifiable
segments or groups
Target Market - Group of people or organizations for which an organization designs, implements,
and maintains a marketing mix
- Meeting its needs results in mutually satisfying exchanges
- Most likely to buy
Marketing Positioning The process of defining the marketing mix variables so that target customers have a
clear, distinctive, desirable understanding of what the product does or represents in
comparison with competing products.
Start of OPMA 3306 ...
Operations and Supply Chain Management (OSCM) The design, operation, and improvement of the systems that create and deliver the
firm's primary products and services
Forecasting the basis of corporate planning and control
Strategic Forecasts Medium- and long-term forecast used to make decisions related to strategy and
estimating aggregate demand
Tactical Forecasts - The goal is to estimate demand in the short-term (a few weeks or months)
- Are important to ensure that in the short-term we are able to meet customer lead-
time expectations and other criteria related to availability of products and services
4 Basic Types of Forecasting - Qualitative
- Time Series
- Causal Relationships
- Simulation
Qualitative Forecasting - take advantage of knowledge of experts and require judgment
- useful when relative data are N/A
Causal Forecasting - dependent variable is related to one or more independent variables
- independent variables are assumed to "cause" the results observed in the past
, COBA Exam
Naive Forecasts Forecast for the next period equals the demand for the current period (F = Dt)
Simple Moving Average definition - Forecast based on average past demand
- Useful in removing random fluctuations for forecasting
- Oldest period is discarded each time a new forecast is made
Simple Moving Average formula - Ft = (At-1 + At-2 + At-3 +...+At-n) / n
- Ft = forecast for coming period
- n = number of periods to be averaged
- At-x = actual occurrence x periods ago
Weighted Moving Average formula - Ft = w1(At-1) + w2(At-2) + ... + wn(At-n)
- w = weight
- n = total number of prior periods in forecast
- At-x = actual occurrence x periods ago
Exponential Smoothing - Most logical method to use if the importance of data diminishes as past becomes
more distant
- Most used of all forecasting techniques
Exponential Smoothing Formula - Ft = Ft-1 + α(At-1 - Ft-1)
- Ft-1 = forecast for prior period
- At-1 = actual demand in prior period
- α = desired response rate/smoothing constant
Forecast Error - the difference between actual demand and the forecast
- all forecasts contain some level of error
Start of BLAW3310 ...
Corporation a business that has its own legal identity and is created under state law
General Partnership association of two or more persons to carry on a business for a profit
Limited Partnership - business organization made up of two or more persons who have agreed to carry
on business for a profit
- has one general partner, the rest are limited partners
How is Limited Partnership different from a General unlike general partnerships:
Partnership? - not all partners have right to participate in management of enterprise
- not all partners are liable for debts
General partners vs. Limited partners - general partners run the business, while limited partners just put money into the
business
- limited partners are not liable for debts
Limited Liability Company (LLC) a form of business ownership that offers both limited liability to its owners and
where profits are only taxed once
, COBA Exam
Instead of shareholders, Limited Liability Companies Members
have.....
Contract the legal relationship consisting of the rights and duties of agreeing parties that
arise from promises exchanged.
Elements of a Contract - agreement (offer and acceptance)
- consideration
- contractual capacity
- legality
- genuine consent
Offer a promise to do something or to refrain from doing some specific thing
Requirements of an Offer - there must be a clear intent by the offeror to become contractually bound
- the basic terms and conditions of the offer must be clear and certain
- the offer must be properly communicated
What type of jurisdiction do Federal District Courts have? Original jurisdiction
Subject-Matter Jurisdiction in State Court includes requirements on amount in controversy and areas of the law the court may
cover
Subject Matter Jurisdiction in Federal Court federal courts may only hear cases within judicial power of the United States, that
is, they have judicial power to hear cases involving a federal question
Personal Jurisdiction A court's authority over the parties to a lawsuit. Is it fair to bring defendant before
the court.
OSHA (Occupational Safety and Health Administration) - regulates health and safety in the workplace
- ex: requirement of hard hats on construction site
Start of BCOM3360 ...
Common Mistake for Resumes and Cover Letters - Try to showcase all skills and achievements
- Can lead to scattered message and dilute the focus on key abilities and attributes
Resume Length Preference - Single-page
Resume sections - Name block
- Summary or objective (optional)
- Education
- Work experience or employment history
- Additional information
