"Stimulus" should refer only to the discriminative stimulus, and it always comes before the response. Reinforcement or punishment is the consequence, not the stimulus

"Timing of the stimulus and response" is a bit confusing
In classical conditioning, they're essentially saying that presentation of a conditioned stimulus produces a conditioned response, and that during acquisition, the neutral and unconditioned stimuli must be paired very closely (eg. about half a second apart).
In operant conditioning, they're saying that a particular behaviour acts on the environment and is followed by some sort of consequence, whether that be reinforcement or punishment. Also, although the time period between pairing of a response and its consequence is important, especially in lower-order mammals, it is less important than in classical conditioning
Btw, Grivas doesn't really mention anything about discriminative stimuli, but VCAA do expect you to know about it