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bst > Models > Flashcards

Models Flashcards

1
Q

PESTLE

A

Political, Economic, Social, Technology, Legal, Ecological

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2
Q

Porter’s Diamond

A

National competitive advantages

FDRS

Strategy, structure and rivalry
Supply conditions (supply side - factor conditions)
Demand conditions
Related and supporting industries

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3
Q

Mission statement covers?

A

Purpose
Strategy
Policies
Values

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4
Q

Objectives of should be:

A

Specific
Measurable
Achievable
Relevant
Time bound

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5
Q

Stakeholder analysis for not-for-profit organisations:

A

Primary objective: maximise benefit to target stakeholder

Benefits, maybe intangible and difficult to measure

Diverse range of stakeholders

Multiple objectives

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6
Q

Mendelow’s Matrix

A

Interest high, Power high: need participation

Interest high, Power low: keep informed

Interest low, Power high: keep satisfied

Interest low, Power low: minimal effort

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7
Q

Porter’s 5 Forces

A

Threats within a industry:

Threat of new entrants

  • high growth and profit margins?
  • few competitors?
  • high barriers to entry?

Power of suppliers

  • can supplier increase prices?
  • supplier have bargaining power?

Competitive rivalry

  • intense competition?

Power of customers

  • small number of large customers?
  • low product differentiation

Threat of substitute

  • price elasticity of demand?
  • different industries/sub industries
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8
Q

Industry Life Cycle Model

A

Introduction - slow growth

Growth - rapid growth and popularity

Shakeout - growth falls

Maturity - long period of slow growth

Decline - sales volume fall

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9
Q

9Ms

A

Men
Money
Management
Make up
Machinery
Methods
Markets
Materials
Management information

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10
Q

Competencies (Kay’s sources)

A

How do you meet critical success factors?

CIR

Competitive architecture

  • internal i.e. employees
  • external i.e. suppliers
  • network i.e. collaborating firms

Reputation

Innovative ability

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11
Q

BCG Matrix

A

Star - market share high, market growth high

Cash cow - market share high, market growth low

Problem child/Question mark - market share low, market growth high

Dog - market share low, market growth low

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12
Q

Porter’s generic strategies

A

Gain a competitive advantage:

Cost leadership
- economies of scale
- cheaper suppliers
- reduce labour

Differentiation (premium)

  • branding
  • innovation
  • quality

Focus/niche

  • identify customer
  • choose approach
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13
Q

Porter’s value chain

A

how business gains competitive advantage by breaking it down

Primary (LOLSS) :

Inbound logistics
Operations
Outbound logistics
Sales and marketing
Service

Secondary (PITH):

Procurement
Technology development
Human resource management
Infrastructure

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14
Q

Harmon’s Process Strategy Matrix

A

Strategic importance high, complexity high: IMPROVE

Strategic importance high, complexity low: AUTOMATE

Strategic importance low, complexity high: OUTSOURCE

Strategic importance low, complexity low: AUTOMATE/OUTSOURCE

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15
Q

Product Life Cycle Model

A

Development

Introduction

Growth

Maturity

Decline

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16
Q

SWOT analysis

A

Used for corporate appraisal:

Strengths - internal

Weaknesses - internal

Opportunities - external

Threats - external

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17
Q

Gap analysis

A

Why is there a gap?

How to fix gap?

18
Q

Ansoff’s Matrix

A

Market penetration: existing markets, existing products
- price cuts
- marketing
- innovation
- more sales of existing items

Product development: existing markets, new products
- R&D

Market development: new market, existing product
- new market for product
- foreign market
- consumer vs. industrial

Diversification: new market, new product
- vertical integration

19
Q

4 Goods P’s and 7 Service P’s

A

Controllable marketing variables to be adapted:

Product (unique selling point)

Promotion (advertising)

Place (distribution - direct vs indirect)

Price (pricing strategy)

People - Service (staff training/knowledge)

Processes - Service (efficiency)

Physical evidence - Service (tangible aspects of service)

20
Q

4 C’s of pricing

A

Costs: must be covered in long term

Customers: price sensitivity

Competition: monitor competitors actions

Corporate Objectives:
- price skimming
- penetration
- price discrimination
- going rate
- cost plus pricing

21
Q

Branding concept model

A

Premium: high price, high quality

Cowboy: high price, low quality

Bargain: low price, high quality

Economy: low price, low quality

22
Q

Handy’s Shamrock (flexible firm)

A

Flexible firm:

Professional core
Contractual fringe (outsourced)
Flexible labour force (temporary)
Customers

23
Q

Price elasticity of demand

A

% change in Q / % change in P

> 1 elastic
<1 inelastic

24
Q

Mintzberg’s building blocks

A

Ideology - values and beliefs

Strategic apex - higher management and planning

Middle line - management linking strategic and operating core

Operating core - basic work

Technostructure - technical expertise/specialists

Support staff - support operations (canteen, legal, tax)

25
Q

TARA Model

A

Transfer

Avoid

Reduce

Accept

26
Q

Balanced scorecard

A

Performance indicators should consider:

Financial perspective

vs

Innovation and learning

Customer perspective

vs

Internal business perspective

27
Q

Lewin’s force field analysis

A

For changes to occur:

Driving forces must be stronger than barrier to change

28
Q

Barriers to change

A

Cultural barriers:

  • Structural inertia: imbedded systems
  • Group inertia: social behaviour and norms
  • Power structures: balance of power changes

Personnel barriers:

  • Habit
  • Job security
  • Effect on earnings
  • Fear of the unknown
  • Selective information processing
  • Psychological contract
29
Q

Lewin’s iceberg model

A

Change steps:

Unfreeze - communication, education, participation, negotiation

Move - train, installation of equipment, new contracts

Refreeze - reinforce change, promote benefits, reward conformity

30
Q

Ethical issues

A

LESTIF

Transparency

Effect

Fairness

Legality

Integrity or Honesty

Self interest or Objectivity

31
Q

Organisations structures

A

Entrepreneurial

Functional

Divisional

Matrix

32
Q

Actions for directors

A
  • establish facts
  • seek legal advice/counsel
  • update stakeholders (stock market or otherwise)
  • disciplinary proceedings
  • change reporting lines
  • reconsider remuneration
  • perform or commission due diligence
33
Q

Independence in appearance and by fact

A

By fact - independent in actions but maybe not in perception

By appearance - independent in actions and in perception

34
Q

Barriers to entry

A

Economies of scales
Brand loyalty
Capital requirements
Patents
Govt subsidies
Access to distribution

35
Q

ROI formula

A

controllable profit / capital employed

36
Q

RI formula

A

Controllable profit
- divisional capital employed * % cost of capital

37
Q

Cyber security risks

A

Denial of service
Virus
Hacking
Sabotage (employees)
Accidents

38
Q

Human Resource Management

A

RRRAT

Recruitment
Retention
Appraisal
Training
Rewards

39
Q

Transfer pricing methods

A

Market value
Cost
Cost +
Cost -

40
Q

Default strategic analysis

A

Cost

Quality

Risk

41
Q

4 V’s of Big Data

A

Volume
Veracity
Velocity
Variety

bst (1 decks)

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