business managing tools Flashcards
ansoff matrix
for product based businesses
used by management tools to come up with growth strategies and analyse how likely they are to
used by stakeholders to evaluate how trustworthy the growth strategies actually are like what are the attractive benefits yes but also the risks of them
product market expansion grid
market means a physical geographical location as well as a new target, like 22 year old white men
PRODUCTS (e). (n) (e) market penetration product development (e) MARKET
(n) market development diversification (n)
(e). (n)
market penetration
increasing sales of existing products into existing markets (medicine)
market development
seeking to expand existing products into new markets (making a company (with clothes for example) multinational)
product development
creating new products then selling them onto existing markets
APPLE airpods apple watch all that
diversification
everything is new, new products on new markets and i dont even have an example but maybe loops the stuoid headphones
swot
strengths weaknesses opportunities threats
used to assess internal and external factors which are bound to affect the product, project, place, person (just the thing in question)
increasing factors that go into msking a business decision
and its the framework for identifying and analysing and organising strengths…
its at the start of the project or as part of planning whatever
steeple
social technological economic environmental political legal ethical
a tool for analysing the external factors driven by different sociocultural aspects of the world. its like dofferent aspects different drivers of change to know how customers are going to react to this and what and how is something going to be influencing them
it gives you the grand picture and protects you prom being blindsided and shit
the difference between it and swot are that swot is about one project product…. while steeple is about the whole business in the whole sociocultural context not only in what is directly related to it jakby
BCG (boston consulting group) matrix
management framework that helps assess the position of different businesses according to market growth and market share
star
perfect awesome
high market share and high market growth you are a legend shining bright and there is soo much potential and thats the best position you could be in
the question mark
no significant market share but high market growth
they are on the right track to takeover off and become a star, it just needs some good analysing, evaluating and planning its the second best
cashcow (what eveb)
large market share however insignificant market growth
its very calm and chill you can work it out ig but yeah
the dawg
unfortunately that one is the worst, it means your company hasn’t got neither high market shares nor high market growth which is absolutely horrendous and atrocious and you’ve got nowhere to go you are screwed basically