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Models Flashcards

1
Q

Mendelow’s matrix

A

Stakeholder mapping - two by two matrix of level of interest (low and high) and level of power (low and high)

Low interest, low power: Minimal effort
Low interest, high power: Keep satisfied
High interest, low power: Keep informed
High interest, high power: Key players

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2
Q

Ashridge College Model

A

Mission statements

Purpose: Why does the organisation exist and what does it aim to achieve for its stakeholders?
Strategy: What resources, competencies or generic strategy give the company a competitive advantage?
Policies: What standards and behavioural patterns are adopted within the organisation?
Value: What beliefs do the managers and employees share?

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3
Q

SMART

A

Objectives

Specific
Measurable
Achievable
Relevant
Time-bound
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4
Q

PESTEL

A

Identifies the macro factors in the external environment that may affect a particular industry

Political: Distribution of power locally, nationally and internationally
Economic: Structure of a country and reliance on industries
Social: Demographic and cultural
Technological: Capabilities and change
Ecological / environmental: Desire for sustainability
Legal: Role of law in society and business relationships in terms of systematic, cultural and regulatory factors

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5
Q

Ohmae (The Borderless World), 5 Cs

A

Factors encouraging development of global business

Customer: Are consumer tastes across the world converging upon similar product characteristics?
Company: Selling in a number of markets enables economies of scale
Competition: Presence of global competitors could encourage a previously local operator to expand
Currency: Reducing exchange rate risks inherent in exporting and get around trade barriers
Country: Provide cheaper access to labour, materials and finance, along with goodwill of host governments

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6
Q

Porter (The Competitive Advantage of Nations), Diamond

A

Understand the competitive advantages over firms from other countries

Firm strategy, structure, rivalry: Cultural factors, time horizons, funding needs, domestic rivalry
Demand conditions: Home market determines how firms perceive, interpret and respond to buyers’ needs
Related and supporting industries: Success in one industry is often linked to success in related industries
Factor conditions: Human resources skills, physical resources, knowledge, capital, infrastructure

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7
Q

Porter’s 5 forces

A

Five competitive forces influence the state of competition in an industry

Threat of new entrants: Barriers to entry
Threat of substitutes: Product / service from another industry that satisfies the same customer needs
Bargaining power of customers
Bargaining power of suppliers: Suppliers can exert pressure for higher prices
Competitive rivalry: If rivalry is fierce, firms compete aggressively, reducing profit potential for all players

Tech consideration: E-commerce

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8
Q

Industry life cycles

A

Describes the phases of development that an industry or market segment goes through

Introduction: Newly invented product or service
Growth: Rapid expansion of demand or activity
Shakeout: Market growth slows and weaker players are forced out
Maturity: Stable period where there is little change in sales volumes but competition intensifies
Decline: Fall in activity levels as firms leave the industry

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9
Q

International trade life cycle

A

Products pass through a cycle during which high income, mass consumption countries are initially exporters but subsequently lose their export markets and ultimately become importers of the product

Phase 1: Product is developed in the high income country
Phase 2: Overseas production starts
Phase 3: Overseas producers compete in export markets
Phase 4: Overseas producers compete in the firm’s domestic market

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10
Q

Johnson, Scholes and Whittington, Critical Success Factors

A

Product features that are particularly valued by a group of customers and, therefore, where the organisation must excel to outperform the competition. A small number of key goals vital to the success of an organisation.

Structure of industry: Factors shaping the success of the industry as a whole
Competitive strategy and position: Key elements of strategy that must be delivered
Environmental factors: Must be monitored and action must be taken if they deviate from the firm’s plan
Temporary factors: Short-term projects that are critical to overall success
Functional managerial position: Manager’s performance

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11
Q

Kay 3 sources of value / competitive advantage

A

Three distinct capabilities a company can develop that add value
Competitive architecture: Internal, external, network
Reputation
Innovative ability: Develop new products and services and maintain a competitive advantage

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12
Q

9Ms

A 
A way of summarising the resources and sources of competences to be evaluated
Machinery
Make-up
Management
Management information
Markets
Material
Men
Methods
Money

Tech: Tech as a resource, big data, data analytics, data mining, cloud computing, internet of things, crowdfunding, home working, intelligent systems, digital assets, cryptocurrency
Vs of big data: Volume, Velocity, Variety, Veracity

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13
Q

4 Vs

A

Vs of big data: Volume, Velocity, Variety, Veracity

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14
Q

Porter (Competitive Advantage), Value chain model

A

Sequence of business activities by which value is added to the products or services produced by an entity. Consists of the organisation’s resources, activities and processes that link the business together, and the profit margin. Together these create the total value of output produced by the business, quantified by the price paid by the customer.

Primary activities
Inbound logistics: Receiving, handling and storing inputs to the production system
Operations: Convert resource inputs into a final product or service
Outbound logistics: Storing the product and its distribution to customers
Marketing and sales: Informing customers about the product, persuading them to buy it and enabling them to do so
Service: After-care

Support activities
Firm infrastructure: Planning, finance and quality control
Human resource management: Recruiting, training, developing and rewarding people
Technology development: Product design, improving processes and / or resource utilisation
Procurement: Acquire the resource inputs to the primary activities

Margin: The excess the customer is prepared to pay over the cost to the firm of obtaining the necessary resource inputs and of performing value-creating activities upon them before selling them to the customer.

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15
Q

Boston Consulting Group matrix

A

Two-by-two matrix of relative market share (high and low) and rate of market growth (high and low)

Low market share and low market growth (Dog): Tie up resources and provide a poor return on investment
Low market share and high market growth (Problem child): Require considerable expenditure and usually show a negative cash flow
High market share and low market growth (Cash cow): Require little capital expenditure and generate high levels of income
High market share and high market growth (Star): Initially require high capital expenditure but promise future high returns

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16
Q

SWOT

A

Internal: Strength and weaknesses
External: Opportunities; threats

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17
Q

Porter’s Competitive Strategy

A

Taking offensive or defensive actions to create a defensible position in an industry, to cope successfully with competitive forces and thereby yield a superior return on investment for the firm.

Cost leader: High profit, lower costs
Stuck in the middle: Low profit, higher costs
Differentiator: High profit, higher costs

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18
Q

Porter’s Generic Strategy

A

Two-by-two matrix of competitive basis (low cost and differentiation) and competitive scope (broad and narrow)
Low cost and broad (Cost leadership): Seeks to achieve the position of lowest-cost producer in the industry
Low cost and narrow (Cost focus)
Differentiation and broad (Differentiation): Assumes that competitive advantage can be gained through particular characteristics of a product
Differentiation and narrow (Differentiation focus)

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19
Q

Ansoff’s matrix

A

Two-by-two matrix of product (present and new) and market (present and new)

Present product, present market (Market penetration): Firm seeks to maintain / increase share of market, secure dominance, restructure the market and increase usage by customers
Present product, new market (Market development): Expand into new market segments or geographical areas
New product, present market (Product development): Launch of new products to existing customers or similar markets
New product, new market (Diversification): Develop into new industries through related and conglomerate diversification

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20
Q

Lynch’s expansion method

A

Two-by-two matrix of development (internal and external) and location (domestic and abroad) that summarises possible expansion models
Internal domestic development: Organic
Internal development abroad: Exporting, overseas office, overseas manufacture, multinational operation, global operation
External domestic development: Joint venture, merger, acquisition, alliance, franchise / licence
External development abroad: Joint venture, merger. acquisition, alliance, franchise / licence

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21
Q

Porter’s attractiveness test

A

Cost of entry

Better off: Acquisition must do something for shareholders that they cannot do for themselves

22
Q

Marketing research

A

Desk

Field

23
Q

Desk research

A

Gathering and analysis of existing or secondary data

Databases

24
Q

Field research

A

Involves the collection of primary information direct from respondents
Opinion: Determine opinions on general issues
Motivation: Determine why people do what they do
Measurement: Quantify research so that sample results can be extrapolated to a target population

25
Q

Product marketing mix

A

Product: What the customer consumes
Price: Pricing point and actual cost in use to the customer
Promotion: Communications mix
Place: Where a product is available, can be accessed, or is bought from

26
Q

Service marketing mix

A

Product: What the customer consumes
Price: Pricing point and actual cost in use to the customer
Promotion: Communications mix
Place: Where a service is available, can be accessed, or is bought from
People: Values of employees must reflect organisation’s values
Physical evidence: What customers see and experience
Process: How a good / service is delivered

27
Q

Brand positioning

A 
Two-by-two matrix of quality (low and high) and price (low and high)
Low quality, low price (Economy)
Low quality, high price (Cowboy)
High quality, low price (Bargain)
High quality, high price (Premium)
28
Q

Pricing strategy 4Cs

A

Costs
Customers
Competitors
Corporate strategy

29
Q

Marketing plan

A

Executive summary: Finalised planning document with a summary of the main goals and recommendations in the plan
Situation analysis: SWOT analysis and forecasts
Objectives and goals
Marketing strategy: Selection of target markets, marketing mix, marketing expenditure levels
Strategic marketing plan: 3-5 years long; defines scope of product and market activities; aims to match activities to comepetence
Tactical marketing plan: 1-year; based on existing products and markets; concerned with marketing mix issues
Action plan: Sets out hous strategies are to be achieved; marketing mix strategy covers 7 Ps
Budgets: Developed from action programme
Controls: Set up to monitor the progress of the plan and the budget

30
Q

Mintzberg’s organisational forms

A

Configuration of the organisation determined by the degree of influence each component exerts

Strategic apex: Control over decision making
Technostructure: Analysts whose reason for existence is the design of procedures and standards and wants an environment that is standardised and highly regulated
Operating core: Work directly on the product or service
Middle line: Managers who seek to increase autonomy from the strategic apex and to increase control over the operating core
Support staff: Gain influence when their expertise is vital
Ideology: Culture

31
Q

Mintzberg’s configurations

A

Stem from whichever building block is key, is characterised by different internal factors and is appropriate in a different external environment

Entrepreneurial: Single owner-manager; flexible structure; adaptable but limited in capacity to deal with diversification or expansion
Functional (bureaucratic): Departments defined by functions
Divisionalised: Divided into autonomous units
Matrix: Provides for formalisation of management control between different functions, while also maintaining functional divisionalisation

32
Q

Span of control

A

Number of people reporting to one person

Tall
Flat

IT impacts organisational structure

33
Q

Bartlett and Ghosal multinational business structures

A

Two-by-two matrix of local independence (low and high) and global coordination (low and high)

Low local independence, low global coordination (International division): Stand alone division added on to domestic structure
Low local independence, high global coordination (Global product division): Companies following a global strategy; separates worldwide divisions
High local independence, low global coordination (Local subsidiary): Geographically based and operates independently
High local independence, high global coordination (Transnational corporation): Builds in strategic and organisational flexibility

34
Q

Courtney et al (Strategy Under Uncertainty) 4 classes of uncertainty

A

Uncertainty is the inability to predict the outcome from an activity due to a lack of information
Clear enough futures: Future can be assessed with reasonable accuracy because it follows on from the past without major change
Alternative futures: Outcomes depend on an event
Range of futures: Outcome varies according to a number of variables that interact
True uncertainty: Very high uncertainty due to the number and unpredictability of the variables influencing the outcome

35
Q

Risk management model

A

Designed to show that risk management is continuous and is a logical process

Strategic objectives
Risk appetite: Extent to which a company is prepared to take on risks to achieve its objectives
Risk identification: Identifies an organisation’s exposure to risk
Risk analysis: Understand and assess scale of risk through risk assessment and profiling
Risk evaluation and response: Process by which an organisation determines the significance of any risk and whether those risks need to be addressed
Risk monitoring and reporting: Regularly monitor, review and report on risk
Review process and feedback
Risk appetite
Etc

36
Q

Risk strategy (Miles and Snow, The influence of managerial culture)

A

There are four strategic types of business, defined by the orientations of their management to strategic challenges

Defenders: Like low risks, secure markets and tried and trusted solutions
Prospectors: Dominant beliefs are more to do with results
Analysers: Balance risk and profits
Reactors: Do not have viable strategies

37
Q

Risk register

A

Facilitates the identification and assessment of risks
Description of risk
Scope of risk: Description of events giving rise to risk, their likelihood and the possible impacts of the risk
Nature of risk: Financial, strategic, operational, hazard, etc
Parties affected: Internal and external
Quantification of the risk: Probability and scale of any losses or gains
Risk appetite: Level of risk considered acceptable for this matter
Risk treatment and control: The means by which the risk is managed at present and an assessment of the current risk controls in force
Potential action for improvement: Recommendations about further risk reduction options
Strategy and policy developments: Identification of function responsible for developing strategy and policy

38
Q

Risk profiling

A

Details the risks along with an estimate of the risk to the company. Two-by-two matrix of likelihood (low and high) and consequences (low and high)
Low likelihood and low consequences (accept): Risks are not significant so keep under view, but costs of dealing with risks unlikely to be worth the benefits
Low likelihood and high consequences (transfer): Insure risk or implement contingency plans
High likelihood and low consequences (reduce): Take some action
High likelihood and high consequences (avoid): Take immediate action

39
Q

HR plan

A

Prepared on the basis of personnel requirements, and the implications for productivity and costs
Recruitment plan: Numbers, types of people, when, recruitment programme
Training plan: Numbers of trainees required and / or existing staff needing training, training programme
Redevelopment plan: Programmes for transferring, retraining employees
Productivity plan: Programmes for improving productivity, or reducing manpower costs, setting productivity targets
Redundancy plan: When and where redundancies are to occur, policies for selection and declatation, redevelopment, retraining, relocation of redundant employees, policy on patments, union consultation
Retention plan: Actions to reduce avoidable labour wastage

40
Q

Devanna’s HR cycle

A

Provides a framework for explaining the nature and significance of HRM
Selection: Ensures the organisation obtains people with the qualities and skills required
Performance: Depends upon each of the four components and how they are coordinated
Appraisal: Enables targets to be set that contribute to the achievement of the overall strategic objectives
Rewards: Should motivate and ensure valued staff are retained
Training and development: Ensure skills remain up-to-date, relevant and comparable with the best in the industry

41
Q

Anthony hierarchy

A

Strategic level
Management level
Knowledge level
Operational level

42
Q

Qualities of good information

A 
Accurate
Complete
Cost-beneficial
User-targeted
Relevant
Authoritative
Timely
Easy to use
43
Q

Earl’s systems audit grid

A

Two-by-two matrix of technical quality (low and high) and business value (low and high) that analyses an organisation’s current use of information systems.

Low technical quality, low business value (divest): Dispose of
Low technical quality, high business value (renew): Invest in
High technical quality, low business value (reassess)
High technical quality, high business value (maintain, enhance): Maintain to preserve high quality and enhance in the quest for competitive advantage

44
Q

Johnson, Scholes and Whittington, Change management

A

Two-by-two matrix of nature of change (incremental and transformational) and management role (proactive and reactive)

Incremental change, proactive management (tuning)
Incremental change, reactive management (adaptation)
Transformational change, proactive management (planned)
Transformational change, reactive management (forced)

45
Q

Lewin, Schein iceberg model

A

Identifies key steps as a three-stage approach

Unfreeze existing behaviour
Move attitudinal / behaviour change
Refreeze new behaviour

46
Q

Gouillart and Kelly, Gemini 4 Rs

A

Framework for planned strategic change

Reframing: Fundamental questions about what the organisation is and what it is for
Restructuring: Organisation’s structure and cultural changes
Revitalising: Process of securing a good fit with the environment
Renewal: Ensures people in the organisation support the change process and acquire the necessary skills to contribute to it

47
Q

Johnson, Scholes and Whittington (Exploring Corporate Strategy), Evaluation criteria

A

Suitability: Is this option appropriate considering the organisation’s strategic position and outlook? Strategic logic and fit
Feasibility: Does the organisation have the resources and competences required to carry the strategy out?
Acceptability: Will this option gain the support of the stakeholders essential for the success of the strategy and the organisation as a whole?

48
Q

Kaplan and Norton, The Strategy Focused Organisation, Balanced scorecard

A

An approach that tries to integrate the different measures of performance by briging key linkages between operating and financial performance to light
Financial: Create value for shareholders
Customer: Customers’ values
Innovation and learning: Continual improvement and create future value
Internal business processes: How to achieve financial and customer objectives

49
Q

Data analysis 3 Es

A

Ensure that resources are put to optimum use and they are achieving an effective ratio
Economy: Measure of the actual resources used
Efficiency: Measure of productivity that considers the relationship between the goods or services and the resources used to produce them
Effectiveness: Measure of the impact achieved and considers outputs in relation to objectives

50
Q

Ethical tests

A

Transparency
Effect
Fairness

BST (2 decks)

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