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BST > Model details > Flashcards

Model details Flashcards

1
Q

PESTEL

A

Use: External/Industry analysis of macro environment. Discuss factors:
P - Political
E - Economic
S - Social
T - Technological
E - Ecological
L - Legal

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2
Q

Porter’s 5 forces

A

Industry specific:
Bargaining power: Supplier & Customer
Threat of new entrants
Threat of substitutes
Competitive rivalry -

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3
Q

9Ms

A

Internal resource audit
- Men & WOmen
- Money
- Machinery
- Materials/Suppliers
- Markets
- Management
- Methods
- Make-up
- Management information systems

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4
Q

Resources & Competencies

A

Threshold resources - Basic needed by all firms in market

Unique resources - give firms sustainable competitive advantage

Threshold competencies - Activities and processes involved in using and linking the firm’s necessary resources to stay in business

Core competencies - Critical activities and processes to meet CFS’s and achieve a sustainable competitive advantage

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5
Q

Kays 3 sources

A

Subdivide core competencies into the following

Competitive Architecture
Reputation
Innovative ability

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6
Q

Kays - COmpetitive architecture

A

Network of relationships within and around a business that help create core competencies - take time to build

Internal - relationships with employees
External - Suppliers, customers and other intermediaries
Network - Collaborating businesses and organisations

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7
Q

Kays - Reputation

A

The reason why customers come back, investors invest and employees apply for jobs

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8
Q

Kays - Innovative ability

A

The ability to develop new products and services and maintain a competitive advantage

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9
Q

Porter’s value chain

A

Primary activitIes
- Inbound logistics
- Operations
- Outbound logistics
- Marketing and sales
- Service

Support activities
- Procurement
- HR
- Tech development
- Firm infrastructure

& MARGIN

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10
Q

Risk Classification

A

Strategic - objectives
Operational - day to day
Hazard - disasters
Financial - gearing, credit, liquidity etc
Compliance - Laws and regulations

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11
Q

Risk management

A

Reduce Avoid
Accept Transfer

TARA
Frequency (X) Impact (Y)

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12
Q

Porter’s generic strategies

A

cost leader
Differentiation
Niche - could be either

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13
Q

Bowman’s Clock

A

Starting at low:low going clockwise
Price(X) Value (Y)

1 No frills
2 Low Price
3 Hybrid
4 Differentiation
5 Focused differentiation (High High)
6-8 DOOMED

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14
Q

BCG Matrix

A

Relative market share >0.5
- Star - high growth
- Cash cow - low growth

Relative market share >0.5
- Question mark - high growth
- Dog - low growth

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15
Q

BCG strategies

A

Star - Expenditure to maintain position
Cash cow - harvest low capex
Question mark - build market share
Dog - Divest/shutdown unless gateway product

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16
Q

Product life cycle

A

Introduction
Growth/Shakeout
Maturity
Decline

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17
Q

Market segmentation

A

Sub units in the market

Attractiveness of a segment depends on it being
Measurable - (forcasting)
Accessible
Stable
Substantial
Defensible

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18
Q

Brand positioning

A

Economy, cowboy, premium, bargain

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19
Q

Market Research

A

Desk vs Field

20
Q

4/7 P’s

A

Marketing Mix - set of controllable marketing variables

First 4
- Product
- Place
- Promotion
- Price

Service industry
- People
- Processes
- Physical evidence (evidence of service e.g. documentation or trinkets)

21
Q

Kotler’s 3 C’s

A

Principles of pricing
COST - need to be covered
CUSTOMER - willing to pay
COMPETITORS - benchmark

22
Q

Benchmarking

A

Internal
Competitive
Activity/Best in class
Generic

23
Q

Lewin’s 3 steps/iceburg

A

UNFREEZE - existing behavior

MOVE - making the change

REFREEZE - Consolidate and reinforce

24
Q

Gemini 4 Rs

A

REFRAME - what do we stand for?

RESTRUCTURE - change the structure

REVITALISE - find a good fit with environment

RENEWAL - Ensure support for change

25
Q

Lewin’s Forcefield

A
26
Q

Ethics TEF

A

Discussing ethics on shareholders
Transparency
Effect
Fairness

27
Q

Ansoff’s Growth Matrix

A

Market Penetration - same product same customers

Market development - same product new customers

Product development - same customers new product

Diversification - new product new market

28
Q

Diversification strategies

A

Related
- Vertical (supplier or customer)
- Horizontal (competitor etc.)

Unrelated
- Conglomerate

29
Q

Lynch growth

A

Internal (organic) vs External third parties
Home vs Abroad

30
Q

Strategy analysis

A

Suitability
Feasability
Acceptability

(Probably pros and cons too)

31
Q

Stakeholder analysis - Mendelow

A

Minimal effort
Keep informed (High interest low power)
Keep satisfied (High power, low interest)
Key players

32
Q

Ashridge College Model (RSVP)

A

R - Reason
S - Strategy
V - Values
P - Policies

33
Q

Porter’s Diamond

A

The competitive advantage of Nations

Why is a certain country so GOOD at something e.g. Germans and their cars

  • FACTOR CONDITIONS
    - Basic e.g. natural resources and unskilled labour
    - Advanced include digital communications and
    educated personell
  • STRATEGY STRUCTURE & RIVALRY
    - National culture, industry strategy, domestic
    rivalry
  • DEMAND CONDITIONS
    - Global product demand
  • RELATED AND SUPPORTING INDUSTRIES
    - Shared expertise from other industries
34
Q

Balanced scorecard

A

Financial perspective
Customer perspective
Internal business
Innovation and learning

35
Q

3 E’s

A

Economy x Efficiency = Effectiveness

Cost of resource x processes = outcome

36
Q

Company structures

A

Entrepreneurial, Functional, divisional and matrix

37
Q

Mintzberg configurations

A

Entrepreneur - focus on apex
Machine - focus on technostructure
Professional bearocracy - Focus on operating core
Divisionalises - Focus on middle line
Adhocracy - e.g. film companies, operating core focus

38
Q

Mintzberg

A

Strategic apex, middle line, technostructure, support staff and operating core

39
Q

Handy’s Shamrock

A

Professional core
COntractual fringe
Customers
Flexible labour force

40
Q

Sustainability

A

Social
Environmental
Economic

41
Q

Big data - Volume

A

Vast quantities of data

42
Q

Big data - Velocity

A

Speed of data collection in real time

43
Q

Big data - Variety

A

The range of data - note structured v unstructured

44
Q

Big data - Veracity

A

how TRUTHFUL the data is

45
Q

Big data - 4 Vs

A

Volume
Velocity
Variety
Veracity

BST (2 decks)

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