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BTF > Intro to business strategy > Flashcards

Intro to business strategy Flashcards

1
Q

Name for strategies determined at main board level for the business as a whole

A

Corporate strategy

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2
Q

What is the name for strategies for strategic business units and individual markets

A

Business strategies

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3
Q

name for strategies for the main functions within each strategic business unit

A

functional/operational strategies

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4
Q

Is PESTEL analysis internal or external?

A

External

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5
Q

What does PESTEL stand for?

A 
Political
Economic
Social and demographic
Technological
Ecological (environmental)
Legal
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6
Q

Is Porter’s five forces analysis internal or external?

A

External

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7
Q

What are Porter’s five forces?

A 
Competitive rivalry
Threat of new entrants
Threat of substitutes
Bargaining power of customers
Bargaining power of suppliers
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8
Q

What type of competitor is:

similar size firms with similar products

A

brand

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9
Q

What type of competitor is:

similar products but different markets or distribution methods

A

Industry

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10
Q

What type of competitor is:

distinctly different products that satisfy the same need

A

Form

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11
Q

What type of competitor is:

Different products but compete for the same disposable income

A

Generic

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12
Q

What type of competitor reaction is:

No response to competitor moves

A

Laid back

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13
Q

What type of competitor reaction is:

responds aggressively to all competitor moves

A

Tiger

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14
Q

What type of competitor reaction is:

reacts to some threat in some markets but not to others

A

selective

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15
Q

What type of competitor reaction is:

difficult to predict when or how they will react

A

stochastic

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16
Q

Is the 9 Ms model internal or external analysis?

A

Internal

17
Q

Is Porter’s value chain internal or external analysis?

A

internal

18
Q

Is product life cycle analysis internal or external analysis?

A

Internal

19
Q

What are the five stages in the product life cycle?

A 
Development
Introduction
Growth
Maturity
Decline
20
Q

Is the BCG matrix used in internal or external analysis?

A

Internal

21
Q

What type of product has:

High market share in high market growth

A

Star

22
Q

What type of product has:

High market share in low market growth

A

Cash cow

23
Q

What type of product has:

Low market share in high market growth

A

Question mark

24
Q

What type of product has:

low market share in low market growth

A

Dog

25
Q

What is the strategy for a star?

A

Build

26
Q

What is the strategy for a cash cow?

A

Hold or Harvest

27
Q

What is the strategy for a question mark?

A

Build or harvest

28
Q

What is the strategy for a dog?

A

Hold or divest

29
Q

What does SWOT analysis stand for?

A

Strengths
Weaknesses
Opportunities
Threats

30
Q

how to deal with stakeholders with:

low power and low interest

A

minimal effort

31
Q

how to deal with stakeholders with:

low power and high interest

A

keep informed

32
Q

how to deal with stakeholders with:

high power and low interest

A

keep satisfied

33
Q

how to deal with stakeholders with:

high power and high interest

A

key players, need participation

34
Q

According to Ansoff’s matrix, what is market penetration

A

More sales of existing products to existing markets

35
Q

According to Ansoff’s matrix, what is product development?

A

Developing new products for existing markets

36
Q

According to Ansoff’s matrix, what is market development?

A

Finding new markets for existing products

37
Q

According to Ansoff’s matrix, what is diversification?

A

Developing new products for new markets

38
Q

According to Ansoff’s matrix, what are the two types of diversification?

A

Related (e.g. honda motorbikes and cars)

Unrelated (e.g. yamaha motorbikes and pianos)

39
Q

What are the three characteristics to evaluate strategy?

A

Suitability
Feasibility
Acceptability

BTF (13 decks)

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