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BST > Models > Flashcards

Models Flashcards

1
Q

Mission

A

Purpose, Strategy, Policies, Values

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2
Q

Objectives

A

Specific, Measurable, Achievable, Relevant, Time bound

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3
Q

Mendelow’s matrix

A

Stakeholder mapping.
Low Power + Low interest - Minimal effort
Low Power + High Interest - Keep informed
High Power + Low interest - Keep satisfied
High Power + High interest - Key players

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4
Q

PESTLE analysis

A

Identify opportunities and threats from an organisation’s macro-environment.
Political, Economic, Social, Technological, Legal, Environmental.

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5
Q

Porter’s Diamond

A

Identifies why particular nations enjoy sustained competitive advantage in particular products.

  • Factor conditions
  • Related and supporting industries
  • Demand conditions
  • Strategy, structure and rivalry
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6
Q

Porter’s five forces

A

Model analyses the threats within the industry environment

  • Power of customers
  • Power of suppliers
  • Competitive rivalry
  • Threat of substitutes
  • Threat of new entrants
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7
Q

Resources (9Ms)

A 
Men
Money
Management
Make up
Machinery
Methods
Markets
Management information systems
Materials
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8
Q

Competences

A

Competitive architecture
Reputation
Innovative ability

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9
Q

Product life cycle

A 
Development 
Introduction
Growth
Maturity
Decline
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10
Q

BCG Matrix analysis

A

Used to analyse product portfolio in terms of market share and market growth.

High High - Star
High Low - Cash Cow
Low High - Problem child
Low Low - Dog

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11
Q

Porters generic strategies

A

Cost leadership
Differentiation
Focus/ Niche

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12
Q

Porters value chain analysis (Primary)

A 
Inbound logistics
Operations
Outbound logistics
Sales and marketing
Service
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13
Q

Porters value chain analysis (Secondary)

A

Firm infrastructure
Human resource management
Technology development
Procurement

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14
Q

Ansoff’s matrix

A

Existing products + Existing markets = Market penetration
New products + Existing Markets = Product development
New markets + Existing products = Market development
New products + New Markets = Diversification

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15
Q

Marketing Mix

A 
Product
Promotion
Place (distribution)
Price
People
Processes
Physical evidence
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16
Q

PED < 1

A

Inelastic demand ( not price sensitive)

17
Q

PED > 1

A

Elastic demand ( Price sensitive)

18
Q

Organisation Structure

A

Entrepreneurial
Functional
Divisional
Matrix

19
Q

Joint Venture

A

Contractual agreement between companies, often by setting up another separate company

20
Q

Strategic Alliances

A

Looser agreement to share knowledge, technology or a business opportunity

21
Q

Licensing

A

The right to exploit an invention/resource in return for a share of the profit

22
Q

Franchising

A

The right to exploit a business brand in return for a capital sum plus share of profits/ turnover

23
Q

Strategy evaluation

A

Suitability, Feasibility, Acceptability

24
Q

Balanced scorecard

A

Ensures a mixture of financial and non-financial perspectives are considered

  • Financial perspective
  • Customer perspective
  • Internal business perspective
  • Innovation and learning perspective
25
Q

Benchmarking

A

Internal
Competitive
Activity
Generic

26
Q

4 Vs of operations

A

Volume
Variety
Variation
Visibility

27
Q

Roles of HRM

A

Recruitment
Training
Appraisals
Rewards

28
Q

Supply chain management

A

Responsiveness
Reliability
Relationships

29
Q

4 Vs of Big data

A

Volume, Velocity, Veriety, Veracity

30
Q

Categories of change

A

Tuning, Planned, Adaptation, Forced

31
Q

Lewin’s force field analysis

A

Promote the driving forces, Remove the barriers to change.

32
Q

Cultural barriers (Barriers to change)

A

Structural inertia
Group Inertia
Power structures

33
Q

Personal barriers (Barriers to change)

A 
Habit
Job security
Effect on earnings
Fear of the unknown
Selective information processing
Physchological contract
34
Q

Lewin’s iceberg model

A

Unfreeze
Move
Refreeze

BST (1 decks)

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