Business Statergies

Question 1

PESTLE(E)

Answer 1

Political, economics, social cultural , technological, legal, environmental, ethics

Question 2

Red ocean

Answer 2

Competing is existing markets, fight and beat competition, fighting for existing demand. Eg - New super market

Question 3

Blue Ocean

Answer 3

Crating new uncontested market, aims to make competition irrelevant, creates new demand. EG passenger space travel

Question 4

Core competences

Answer 4

provides access for wider variety of market
Significant customer benefits
Difficult for competitors to copy

Question 5

Boston matrix

Answer 5

Dog, Cash cow, Question mark, Star

Question 6

Porters 5 forces

Answer 6

COMPETITIVE RIVALRY
- threat of new entrants
- threat of new substitutes
- bargaining power of suppliers
- bargaining power of customers

Question 7

Swot Analysis

Answer 7

Internal - Strengths, weaknesses
External - Opportunities, and threats

Question 8

Ansoff Matrix

Answer 8

Existing - Market penetration
Existing new - Product or market development
New - Diversification

Question 9

Lewins force field analysis

Answer 9

Shows whether change will happen within a business,
Driving forces - ( staff, liquidity ) will outweigh the restraining forces ( government, costs )

Question 10

Decision trees

Answer 10

In order to make correct decision, and to help organise information and think through various issues