Original Terms
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New Terms
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HOTS
Higher Order Thinking Skills
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Evaluation
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Creating
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Designing, Constructing, Planning, Producing, Inventing, Devising, Making
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Synthesis
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Evaluating
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Checking, hypothesising, critiquing, experimenting, judging, testing, detecting, monitoring
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Analysis
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Analysing
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Comparing, organising, deconstructing, attributing, integrating
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Application
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Applying
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Implementing, carrying out, using, executing
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Comprehension
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Understanding
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Interpreting, summarising, inferring, paraphrasing, classifying, comparing, explaining, exemplifying
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Knowledge
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Remember
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Recognising, Listing, Describing, Identifying, Retrieving, Naming, Locating, Finding
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LOTS
Lower Order Thinking Skills
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* Performance (1) - refers to a product’s
primary operating characteristics, and the “superior performer” depends
entirely on the task.
* Features (2) – this is considered
as a secondary aspect of performance representing characteristics and referring
to basic functioning.
* Reliability (3) – the dimension reflects
the probability of a product malfunctioning or failing within a specified time
period.
* Conformance (4) - A related dimension of
quality is conformance or the degree to which a product’s design and operating
characteristics meet established standards.
* Durability (5) –this refers to a measure
of product life, durability has both economic and technical dimensions.
* Serviceability (6) - this dimension refers to
the speed, courtesy, competence, and ease of repair.
* Aesthetics – this considers
consumers’ rankings of products on the basis of taste.
* Perceived Quality (7)
- Reputation
is the primary stuff of perceived quality.
*competing on Quality
(8) - A
business’ challenge is to use this framework to explore the opportunities it
has to distinguish its products from another company’s wares.
Full information can be viewed at https://hbr.org/1987/11/competing-on-the-eight-dimensions-of-quality
2-List the major
features of public companies compared to private companies
Source:
Private Company
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Public Company
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1-can be a corporation, a limited liability company, a partnership, or a sole proprietorship, as long as the shares are privately held and not traded publicly.
2-is legally required to file certain documents with their state and follow required compliance laws for shareholders,
3-is not required to publicly disclose financial information,
4-Because private companies don't have to disclose financial information, they can focus on long-term growth
*does not need shareholder approval for operational and growth strategy decisions made by the company, as long as that is stated in their corporate documents. |
1-is traded publicly.
* must inform shareholders about and get approval for the company's operations, financial performance, management actions, and other decisions
2-must follow strict government regulations.
-Going public is expensive, and there is unlimited liability for a company's owners
3-is required by the Securities and Exchange Commission to file an annual report documenting their performance in detail.
* must comply with the rules established by the Sarbanes-Oxley Act, which was enacted to protect investors. The act contains a myriad of regulations concerning board responsibilities and requires the Securities and Exchange Commission to administer rules that comply with the law. For more information on the rules and steps to going public, go to www.sec.gov.
4- need to make sure shareholders are getting their quarterly dividends.
* may have an easier time raising large amounts of capital by selling securities. Investors are more likely to invest in a public company because there is less risk and more potential to reap large rewards.
*can return to the stock market and raise more capital via a secondary stock offering or by issuing a bond.
*can go private by having the owners buy back shares from the shareholders, whether they are members of the public, another company, an individual, or a small group of investors.
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You may like to read relevant information in my eFlipcards
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