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FM > BST - Internal Analysis (6) > Flashcards

BST - Internal Analysis (6) Flashcards

1
Q

Why do we do an internal analysis? what does it identify about the organisation?

A

Its strengths and weaknesses

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2
Q

What does CSF stand for?

A

Critical Success Factor

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3
Q

What are CSFs?

A

A small number of key goals that are vital to the success of an organisation. They are the product features that are valued the most by the customers and therefore where the organisation must excel to outperform the competition

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4
Q

Why does identifying the CSFs help the organisation to identify?

A

The resources and competences needed to exceed

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5
Q

What are the two types of resources?

A

Threshold and Unique

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6
Q

What are threshold resources?

A

Basic resources needed by all firms in the market

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7
Q

What are unique resources?

A

The resources which are better than those of the competition and difficult to replicate, this gives the firm a sustainable competitive advantage

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8
Q

What are the 9 M’s?

A

Men Machines Money Material Markets Make-up Management Methods MIS

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9
Q

What is the 9 M’s model used for?

A

To identify the resources which are available to the business and those resources that may need to be addressed to achieve the CSFs

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10
Q

What are core competences?

A

Critical activities and processes that enable the firm to meet the critical success factors (CSFs) and therefore achieve a sustainable competitive advantage

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11
Q

How does a business achieve a sustainable competitive advantage?

A

Achieve their CSFs

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12
Q

How do we assess the core competences of an organisation?

A

Kays core competences model

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13
Q

What is Kays core competences model?

A

It outlines three main sources of competences - Reputation, Competitive architecture and innovative ability.

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14
Q

What is competitive architecture in Kays CC model?

A

The network of relationships within the business. With employees, suppliers, customers and between collaborating businesses.

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15
Q

What is Value Chain Analysis?

A

It identifies the relationships between the company’s resources, activities and processes that link the business together and create a profit margin

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16
Q

Who made the value chain analysis?

A

Porter

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17
Q

The value in value chain analysis can also be referred to as what

A

The margin

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18
Q

How do you calculate profit margin?

A

Revenue - costs (net income) / revenue

19
Q

What else does porters chain analysis consider that could be eliminated?

A

non-value adding activities that can be identified and eliminated

20
Q

What is the first step to doing a value chain analysis?

A

Identifying the main generic strategy

21
Q

What are the two types of generic strategy? (VCA)

A

Cost leadership (seeking to be the lowest cost producer in the industry) and Differentiation (quality) - producing products that the consumer is willing to pay more for

22
Q

What are the two types of drivers for VCA?

A

Cost drivers and quality drivers.

23
Q

What are the 5 primary activities in the VCA?

A

Inbound logistics, Operations, Outbound logistics, Marketing and sales and Service.

24
Q

What are the 4 support activities in the VCA?

A

Procurement - the processes for acquiring the various resource inputs to the primary activities (not the resources themselves)
Technology development - All value chain activities have a tech content even if it just ‘know how’
HR management - recruiting, managing training rewarding etc
Infrastructure - systems of planning, finance, quality control, information management etc.

25
Q

What do the support activities do in the VCA?

A

They enable the primary activities to take place with max efficiency

26
Q

What do the support activities not create alone (VCA)

A

Value - they enable the primary activities to take place with maximum efficiency

27
Q

Why would you need a portfolio analysis?

A

When you sell more than one product or service to more than one market

28
Q

What are two ways to perform a portfolio analysis?

A

Product life cycle and BCG Matrix

29
Q

What does BCG stand for?

A

Boston Consulting Group

30
Q

What are the five stages of the product life cycle?

A

Development, Introduction, Growth, Maturity, Decline

31
Q

What is involved in the Development stage of the PLC? (2)

A

Negative cash flows as heavy investment in R&D and initial marketing
Market Research

32
Q

What is involved in the Introduction stage of the PLC? (2)

A

Continued cash outflow - high marketing costs can outweigh initial sales
Initial Demand - which will determine the pricing policy

33
Q

What is involved in the Growth stage of the PLC? (2)

A

New Competition - quality improvements may be needed to compete
Economies of Scale - may begin to emerge through mass production

34
Q

What is involved in the Maturity stage of the PLC? (2)

A

Critical Mass - should be achieved leading to cost efficiencies
Positive cash flow - maximum sales with minimum marketing and investment

35
Q

What is involved in the Decline stage of the PLC? (2)

A

Heavy price discounting - to utilise spare capacity and cover OH
Brand Loyalty - may be key to retaining customers

36
Q

What is the main aim of analysing the PLC?

A

To ensure that not too many of the products are in the same phase at any one time! Else this can lead to cash flow problems etc.. realistically want one in the maturity before starting a new PLC

37
Q

Why was the BSG developed?

A

To help conglomerate companies decide where to allocate their resources

38
Q

What are the two dimensions the company uses to analyse its position?

A

Market attractiveness (measured by market growth) and competitive strength (measured by relative market share)

39
Q

How do you measure RMS (relative market share?)

A

Your sales / largest competitor sales

40
Q

What are the two axis on the BCG?

A

Market growth and market share

41
Q

If you have high market growth and high market share where do you sit in the BCG Matrix?

A

Star

42
Q

If you have high market growth and low market share where do you sit in the BCG Matrix?

A

Problem Child

43
Q

If you have low market growth but hight market share where do you sit in the BCG Matrix?

A

Cash cow

44
Q

If you have low market growth and low market share where do you sit in the BCG Matrix?

A

Dog

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