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Business strategy technology > Models > Flashcards

Models Flashcards

1
Q

PESTEL model?

A 
Political
Economic
Social
Technological
Ecological
Legal
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2
Q

What is the use of PESTEL?

A

to assess the attractiveness of a macro environment

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3
Q

What are the porters five forces?

A
  1. Competitive rivalry
  2. Threat of customers
  3. Threat of suppliers
  4. Threat of substitution
  5. Threat of entrants
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4
Q

What is the use of Porters 5 forces?

A

to assess the attractiveness of the industry

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5
Q

What are the axis of Mendelow?

A
  1. Level of interest

2. Level of power

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6
Q

What is the purpose of Menelow?

A

To assess the power and interest of stakeholders and provide practical advice to manage them

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7
Q

What are the stages of the industry/product life cycle?

A
  1. Introduction
  2. Growth
  3. Shakeout
  4. Maturity
  5. Decline
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8
Q

Barriers to entry?

A 
Economies of scale
Brand loyalty
Capex
Access to distribution
Patents
Government subsidies
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9
Q

Threats of substitutes?

A 
From different industries
From sub industries
Price of substitutes low
Performance of the substitute comparable
Customers can switch easily
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10
Q

Customer power?

A 
Small no of large customers
Large no of competitors
Low product differentiation
Low switching costs
Customer's profitability low
High price transparency
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11
Q

Supplier power?

A

Large suppliers
Are supplier’s products differentiated
High switching costs
Suppliers have other suppliers they can go to

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12
Q

What are critical success factors?

A

A few things that must go right.

What resources and competencies will lead us to achieve them?

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13
Q

What are the primary activities of the value chain?

A
  1. Inbound logistics
  2. Outbound logistics
  3. Operations
  4. Marketing and sales
  5. Services
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14
Q

What are the secondary activities in the value chain?

A
  1. Firm infrastructure
  2. HRM
  3. Tech development / R&D
  4. Procurement
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15
Q

Low market growth

Low market share

A

Dog

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16
Q

Low market share

High market growth

A

Problem child

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17
Q

High market share

High market growth

A

Star

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18
Q

High market share

Low market growth

A

Cash cow

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19
Q

How to calculate relative market share?

A

Your sales / LARGEST competitor market share

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20
Q

What is a corporate appraisal?

A

SWOT

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21
Q

What are the axis of Ansoff’s matrix

A

Products

Markets

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22
Q

What is market penetration?

A

Boosting sales to people you already sell to
E.g. using the 4/7ps
Greater EOS

23
Q

What is market development?

A

Selling the same product to a different segment

E.g. new geography, new distribution channel

24
Q

What is product development?

A

Selling a new product to the same people
E.g. doing R&D
Will have good knowledge of customers
Product failure could be damaging to business

25
Q

What is diversification?

A

Selling a new product to different people
Related diversification (Horizontal/vertical)
Unrelated diversification

26
Q

Marketing process

A
  1. Market research
  2. Market segmentation
  3. Marketing mix
27
Q

What is desk research?

A

Gathering and analysis of existing information

E.g. company records, economic data, trade journals

28
Q

What is field research?

A

Collection of new primary research

E.g. questionnaires, internet surveys, interviews, observations, test marketing,

29
Q

What are the 7ps?

A
  1. Product
  2. Price
  3. Promotion
  4. Place
  5. Process
  6. People
  7. Physical evidence
30
Q

Different types of promotion

A
  1. Adverts
  2. Sales promotion
  3. PR
  4. Personal selling
31
Q

Places to sell?

A
  1. Own retail operations
  2. Internet
  3. Mail order
  4. Personal selling
  5. Via distributors
  6. Wholesalers
  7. Retailers
  8. Agents
32
Q

What are the 4 C’s of price?

A
  1. Costs - are they covered?
  2. Customers - How much will customers pay
  3. Competition - What are they pricing at?
  4. Corporate objectives? - Cost leadership, price elasticity?
33
Q

What is an entrepreneurial structure?

A

Manager and subordinates

34
Q

What is a functional structure?

A

Board of directors and departments

e.g. Finance, HR, project management

35
Q

Advantages of entrepreneurial

A
  1. Flexible
  2. Responsive to market
  3. Good control
  4. People talk to one another
36
Q

Disadvantages of entrepreneurial

A
  1. Lack of career structure
  2. Too centralised
  3. Can’t cope with growth
37
Q

Advantages of functional

A
  1. EOS
  2. Standardisation
  3. Specialists comfortable
38
Q

Disadvantages of functional

A
  1. Slow to adapt to market changes
  2. Conflicts against departments
  3. Can’t cope with diversification
39
Q

Advantages of divisions

A
  1. Enables growth
  2. Clear responsibility
  3. Training of general managers
40
Q

Disadvantages of divisions

A
  1. Could mean loss of control
  2. Lack of goal congruence
  3. Duplication of work
  4. Specialists isolated
41
Q

Advantages of matrix

A
  1. Brings together positives of divisions and functions
  2. Improve cross function communication
  3. Useful for temporary teams
  4. Flexibility
42
Q

Disadvantages of matrix

A
  1. Too many managers

2. Could make people feel demoted

43
Q

Components of Mintzberg

A
  1. Strategic apex
  2. Middle line
  3. Operating core
  4. Technostructure (support the operating core)
  5. Support staff (could be outsourced easily)
44
Q

What is decentralisation?

A

The degree of autonomy of the organisation

45
Q

What is mechanistic?

A

A structure that is rigid, suitable for stable environments

46
Q

What is organic?

A

A structure that is fluid in decision making, suitable for dynamic environmentq

47
Q

Handy’s shamrock elements

A
  1. Professional core = permanent staff
  2. Flexible labour = part timers
  3. Contractual fringe = outsourced staff
  4. Customers > they may perform some tasks themselves
48
Q

What is the TARA framwork?

A

Assessing response to risk

  1. Transfer
  2. Accept
  3. Reduce
  4. Avoid
49
Q

Considerations of outsourcing?

A
  1. Competence required to perform internally too strenuous
  2. Better risk management - service level agreements
  3. Level of info needed to be given to outsourcer
  4. Cost > cheaper or more expensive, tendering?
50
Q

What are the elements of HRM?

A
  1. Demand of human resources

2. Supply of human resources

51
Q

What are the four V’s

A
  1. Velocity
  2. Volume
  3. Variety
  4. Veracity
52
Q

Balanced scorecard elements?

A
  1. Financial
  2. Customer
  3. R&D/innovation and learning
  4. Internal business/process
53
Q

Cyber security threats?

A
  1. Humans
  2. Fraud
  3. Viruses
54
Q

Cyber security solutions

A
  1. Business continuity planning, server on different sites
  2. Systems access control
  3. Updating patches of software
  4. Physical security (lock servers etc)
  5. Antivirus
  6. Firewalls
  7. Multi factor authentication
  8. Not allowing remote access
  9. Varying levels of accessibility to different staff

Business strategy technology (1 decks)

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