7.3 Flashcards
analysing the Internal position: overall position
What is operation data ?
It regards the planning and controlls of the business and using this draft to asses weakness and strength
OP. How is quality measured?
Through customer satisfactions , for example looking at customer loyalty and asking customers to complete questionaires on their experience and the number of faulty products.
Why is quality important?
It gives competitive advantage , allowing business to give higher prices and impacts brand image
How can we improve quality ?
Through inspections ,staff training ,higher quality materials and quality assurance and control
What is absenteeism ?
The Proportion of the employees not at work on a given day.
What does high absenteeism mean ?
They lack engagement and motivation ,which can damage competitiveness .
Why is poor healthy& safety bad for a business ?
Increased accidents and injuries ,legal liabilities , less productive , damage to reputation , poor employees morale
Why is excellent health and safety bad for a business?
Improved employee wellbeing ,enhanced productivity , increased costs , stronger reputation and innovation.
What does marketing data mean ?
Assessing performance in relation to its competitors ,asses strength and weakness in markets.
What does enviromental data mean ?
The management of energy and natural disaster or the malnutrition of waste.
What are the key areas of enviromental data ?
Emissions to air
Emissions to water
Emissions to land
Use of non-renewable source
What are core competencies ?
Unique abilities that business have that creates a competitive advantage
Why are CC useful ?
Take advantages of opportunities to enhance performance and provide , competitive advantage ,adds value ,shows gaps in the market
Criticisms of core competencies ?
It’s out of date ,difficulty to identify ,
Short terminism ?
Focuses on short term goals rather than long term goals .
What decisions would a business make in short terminism?
Costs cutting , delaying investments ,ignore long term risks and focus on market share
Why do a business choose to operate ST ?
Pressure to meet shareholders expectations ,market competition, immediate cash flows and mergers
Why would a business focus on long term performance ?
Building brand image ,growth and innovation ,reputation
How will long term Perfromance affect the business ?
Strong brand image ,strong cuts their relations and sustainable growth and
Profitability
If a business was to focus on the long term what decisions would they make ?
Investing in reassurance and development ,training of employees to provide high levelled skills , and crate new production facilities .
what is elkingtons triple bottom line ?
encourages the assessment of overall business performance on three important areas : planet people profit
what is elk profit mean ?
the business economic impact if the company is financially successful and ie financial statements
what is elk people ?
how a business treats there employees and customers and if they take health and safety into consideration and howdy treat their communities
what is elk planet ?
the business envoirmental impact on efforts to reduce their digital footprint
