BCS - Module 2: Understanding the Strategic Context: Written Questions Flashcards
A resource audit aids with the identification of…
strengths and weaknesses
Each resource can be considered to be a source of strength or weakness for the organisation
What are the 5 resource audit types?
Physical Financial Human Know-how Reputation
What resource audit type do the following fall into?
Buildings Land Machinery Physical Computer Equipment Vehicles
Physical
What resource audit type do the following fall into?
Leadership and Management
Full and Part Time Employees
Temporary workers
Human
What resource audit type do the following fall into?
Patents
Copyright
Processes
Know-how
What resource audit type do the following fall into?
Cash flow
Profitability
Credit rating
Financial
What resource audit type do the following fall into?
Benchmark information
Accreditations
Awards
Reputation
What PESTLE factor is this?
Levels of employment
Economic
This impacts the availability of labour for an organisation
What PESTLE factor is this?
The trend towards using smart devices (smart watches, smart home devices etc)
Socio-cultural
What PESTLE factor is this?
Taxation rules and regulations
Legal
What PESTLE factor is this?
Increase in the price of energy
Economic
What PESTLE factor is this?
Animal welfare
Environmental
What PESTLE factor is this?
Waste disposal and recycling
Environmental
Porters Five Forces analysis shows…
the relative positioning and power of the organisations that participate in a particular industry
What are Porters Five Forces?
- Industry competitors and rivals
- Bargaining power of suppliers
- Threat of new entrants
- Bargaining power of buyers
- Threat of substitute products or services
In the POPIT model which aspect does this fall under?
Understanding of the business objectives
People
In the POPIT model which aspect does this fall under?
Defined roles and responsibilities
Organisation
In the POPIT model which aspect does this fall under?
Supportive management style
Organisation
What are SMART objectives?
Specific Measurable Agreed Realistic Time-based
What are Critical Success Factors?
The areas of the organisation that must succeed in order to achieve positive performance and meet
objectives.
They are generally identified at a high-level and mapped into the organisation’s mission and objectives.
What are Key Performance Indicators?
The mechanisms that assess the performance of the organisation and assess how well the organisation is achieving its CSFs.
What are Performance Targets?
The internal mechanisms that will enable the KPIs and therefore the CSFs to be achieved.
In the example of a Car Dealership:
Mission = “To be the number one dealership in the UK” and the
Objective = “To increase new vehicle sales by 25% over 5 years”
Strategy = “Boost sales leading up to new registration dates”
Tactic = “8 weeks before the new registration dates, write to all customers whose vehicles are coming up to 3 years old”
What are the CSFs, KPIs and Performance Targets?
CSFs
• High customer retention rate
•Excellent service provision
KPIs
•Percentage of previous customers who buy again
• Customer feedback on service provision
PERFORMANCE TARGETS
• 50% of sales to previous customers
• 98% rate service ‘good’ or better (on a rating scale of excellent, good, fair, bad)
What is the purpose of the Balanced Business Scorecard?
To clarify the Strategy
To drive implementation of strategy using the four perspectives:
FLIC: Financial Learning and Growth Internal Business Process Customer
To enable discussion within a management team about what objectives to choose, and subsequently to support discussion of the actual performance achieved.
To identify additional KPIs and CSFs
Which of the four perspective in the Balanced Business Scorecard do the following fall into:
number of employee suggestions or total hours spent on staff training.
Learning and Growth
Which of the four perspective in the Balanced Business Scorecard do the following fall into:
time taken to process a phone call; time to deliver the products; results of customer surveys;
number of complaints or competitive rankings.
Customer
Which of the four perspective in the Balanced Business Scorecard do the following fall into:
number of debtors; cash flow or return on investment.
Financial
Which of the four perspective in the Balanced Business Scorecard do the following fall into:
The time spent prospecting; number of units that required rework or process cost.
Internal Business Process
