E3

Question 1

9Ms - what are they?

Answer 1

Machinery
Make-up - culture and structure
Management - skills, experience n vision
Management Information - systems and availability of info
Markets - which ones the org opp in.
Materials - relationship with supp, quality and availability
Men and Women - HR number of staff, skills, wage cost etc
Methods - capital or labour intensive
Money - cash position, credit and turnover levels cash surplus/deficit

Question 2

9Ms part of what?

Answer 2

It’s part of the position audit

Question 3

Porters Diamond - what are the elements?

Answer 3

• Firm strategy, structure and Rivalry.
• Demand conditions
• Factor conditions
• Related and supporting industries.

Question 4

What are factor conditions in porters diamond?

Answer 4

Essentially supply side stuff.
Two types:

Basic- natural resources, climate and resources, unskilled labour.

Advanced - infrastructure, communication, higher education and skilled labour.

Question 5

Demand conditions in porters diamond.

Answer 5

A tough market requires firms to compete on price and quality.

Question 6

Ansoffs market options matrix ?

Answer 6

Lunch product development
New/ Present

NP NM - diversification
NP PM - product development
PP NM - market development
PP PM - market development