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Business > Models and Theorists > Flashcards

Models and Theorists Flashcards

1
Q

What does Ansoff’s matrix do?

A

consider opportunities and potential market developments by looking at new and existing markets and products.

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2
Q

What are the axis of Ansoff’s matrix ?

A

products and markets

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3
Q

Ansoff’s matrix: Existing Product + Existing Market =

A

Market penetration

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4
Q

Existing Product + New Market =

A

Market development

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5
Q

New Product + Existing Market =

A

Product development

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6
Q

What are porters five forces

A

bargaining power of suppliers
threat of substitutes
bargaining power of buyers
threat of new entrants
industry rivalry

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7
Q

when are porters five forces used?

A

to determine the strength or weakness of a firm’s competitive position and the degree of rivalry between companies

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8
Q

What is the Blake Mouton grid used for

A

To show different managerial styles

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9
Q

what does Blake Mouton consist of

A

Country club
Team leader
impoverished
produce or perish
middle of the road

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10
Q

What is bowman’s clock used for

A

to outline different strategies in terms of the perceived added value and price

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11
Q

Which numbers are deemed uncompetitive on Bowman’s clock?

A

6,7,8 as they are high price and low differentiation

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12
Q

Bowman’s clock - 3

A

Hybrid, low cost with high perceived added value

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13
Q

Bowman’s clock - 4/5

A

differentiation and focused differentiation

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14
Q

what does Hackman and Oldham’s model do?

A

shows five aspects of a job design that can influence how motivating it is and highlights the importance of job design on individuals on their performance

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15
Q

Hackman and Oldham - five elements of job charactheristics

A

Skill variety
Task identity
Task significance
Autonomy
Feedback

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16
Q

Hackman and Oldham - outcome of feedback

A

high satisfaction with work - felt listened too

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17
Q

Hackman and Oldham - outcome of Autonomy

A

High quality of work

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18
Q

Hackman and Oldham - outcome of Skill variety

A

High internal motivation

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19
Q

What are Herzberg’s two factors?

A

Hygiene and motivating factors

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20
Q

Examples of Herzberg’s hygiene factors:

A

salary
job security
safe working conditions
company policies
relationship with peers

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20
Q

Examples of Herzberg’s motivating factors:

A

achievement
recognition
advancement opportunities

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20
Q

What is Maslow’s theory of motivation

A

Hierarchy of needs

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20
Q

What are Maslow’s five hierarchy of needs? (top down)

A

self-actualisation
esteem
belonging
safety
physiological

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21
Q

What was Herzberg’s principle with his two factor theory?

A

Improving motivating factors increases job satisfaction, improving hygiene factors decreases job dissatisfaction

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21
Q

examples of Maslow’s physiological needs:

A

food
water
warmth
rest

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21
Q

examples of Maslow’s safety needs:

A

employment security
health security
property security

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22
Q

examples of Maslow’s belonging needs:

A

friendship
family
connection

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23
Q

examples of Maslow’s esteem needs:

A

recognition
freedom
respect

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24
Q

examples of Maslow’s self-actualisation needs:

A

feeling of achieving full potential

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25
Q

How are Maslow’s needs categorised?

A

Self-fulfilment
Psychological
Basic

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26
Q

What are Maslow’s basic needs?

A

Physiological and safety

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27
Q

What are Maslow’s Psychological needs?

A

belonging and esteem

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28
Q

What is Maslow’s self-fulfilment need?

A

self-actualisation

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29
Q

Who is Taylor and what is his management style?

A

money man - scientific management

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30
Q

How did Taylor motivate his staff

A

piece-rate pay
standardisation of work

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31
Q

What is the Tannenbaum Schmidt continuum

A

range of different management styles from boss-centered leadership to subordinate centered leadership

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32
Q

Order of leadership styles on the Tannenbaum Schmidt Continuum

A

Tells
Sells
Suggests
Consults
Joins
Delegates
Abdicates

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33
Q

What is the Boston Matrix used for?

A

to compare market growth with market share

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34
Q

What are the four components of the Boston Matrix

A

question marks
Dogs
Rising stars
Cash Cows

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35
Q

What are on the axis of the Boston matrix

A

Market growth and market share

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36
Q

What is Scientific decision making?

A

stages of a data based approach to decision making

37
Q

Stages in Scientific Decision making

A

gather data
analyse data
select
implement
review
set objectives

38
Q

What are decision trees an example of?

A

Scientific decision making

39
Q

What is stakeholder mapping?

A

A grid categorising stakeholders in terms of their relative power and interest

40
Q

What are on the axis of a Stakeholder mapping grid

A

power and interest

41
Q

High stakeholder power and low stakeholder interest =

A

Keep satisfied

42
Q

High stakeholder power and High stakeholder interest =

A

manage closely

43
Q

low stakeholder power and high stakeholder interest =

A

keep informed

44
Q

low stakeholder power and low stakeholder interest =

A

monitor with minimum effort

45
Q

What is market mapping?

A

a way to spot gaps in a market for potential new entrants or expansion

46
Q

What are on the axis for market mapping

A

usually price and quality but can differ!

47
Q

How do you make marketing decisions?

A

STP

48
Q

what does STP stand for

A

Segmentation
Targeting
Positioning

49
Q

What is the marketing mix?

A

blend of strategies a company uses to drive successful product promotion

50
Q

Name the 7 P’s of the marketing mix

A

Promotion
Price
Product
Place
Physical Evidence
Process
People

51
Q

Difference between place and process in the 7 P’s

A

place - distribution channels, web bases/bricks and mortar
process - standardisation, delivery services

52
Q

What is an inventory control chart?

A

Shows any potential issues relating to inventory such as the re-order level, re-order quantity, usage rate and lead time

53
Q

How do you work out the lead time on an inventory control chart?

A

time taken from re-order level to re-stock to maximum stock level

54
Q

How do you work out the buffer stock level on an inventory control chart?

A

its the minimum stock level

55
Q

What is a SWOT analysis

A

used for strategic planning involving an internal and external audit

56
Q

What does SWOT stand for

A

strength
weaknesses
opportunities
threats

57
Q

What is Elkington’s Triple Bottom Line?

A

A Venn diagram to show that businesses may have different objectives not just profit

58
Q

What are the elements in Elkington’s Triple Bottom Line

A

Planet
People
Profit

59
Q

How is Carroll’s Corporate Social Responsibility depicted?

A

a pyramid

60
Q

What are the 4 responsibilities in Carroll’s Corporate Social Responsibility Pyramid

A

Economic
Legal
Ethical
Philanthropic

61
Q

What are the two Porter’s theories

A

Porter’s five forces and Porte’s generic

62
Q

What do Porter’s generic strategies do?

A

highlights the strategic decisions of managers in terms of the scope of the business’ activities and the positioning within the market.

63
Q

What are the axis on the Porter’s generic grid

A

Competitive advantage and competitive scope

64
Q
A
65
Q

Porter’s generic - Low cost + broad target =

A

cost leadership

66
Q

Porter’s generic - Differentiation + Narrow target

A

Differentiation focus

67
Q

Porter’s generic - Differentiation + Broad target

A

differentiation

68
Q

Porter’s generic - low cost + narrow target

A

cost focus

69
Q

What did Greiner’s model show

A

challenges that will occur as a business grows with typical crisis points

70
Q

What are Greiner’s crisis points/revolutions

A

Leadership
Autonomy
Control
Red Tape
?

71
Q

What are Greiner’s stages of growth/evolutions

A

Creativity
Direction
Delegation
Coordination
Collaboration

72
Q

What are Bartlett and Ghoshal’s strategies?

A

International
Multi-domestic
Transnational
Global

73
Q

What does Bartlett and Ghoshal’s model do?

A

examines the different approaches to managing businesses that operate in several countries

74
Q

What are on the axis for Bartlett and Ghoshal’s model?

A

Cost pressures and pressure for local responsiveness

75
Q

Bartlett and Ghoshal’s - Low cost pressure + low pressure for local responsiveness =

A

International strategy

76
Q

Bartlett and Ghoshal’s - Low cost pressure + high pressure for local responsiveness =

A

Multidomestic strategy

77
Q

Bartlett and Ghoshal’s - high cost pressure + high pressure for local responsiveness =

A

Transnational strategy

78
Q

Bartlett and Ghoshal’s - high cost pressure + low pressure for local responsiveness =

A

Global strategy

79
Q

What is a multi-domestic strategy?

A

there are considerable variations between market demands and few benefits from globally integrating, resulting in a portfolio of relatively independent companies running themselves and producing for their own markets.

80
Q

What is a global strategy (Bartlett and Ghoshal’s)

A

there are significant economies of scale and there are similarities in terms of market demand, standardised products are sold globally and the full range of business activities will only exist in the home market

81
Q

What is a transnational strategy

A

there is pressure to meet local needs and also benefits from integrating globally. Staff move around the business globally which helps build shared values and shared knowledge.

82
Q

What is an international strategy (Bartlett and Ghoshal’s)

A

there are similarities between markets and little gains from globally integrating. a business operates abroad but runs from the home country

83
Q

What is Lewin’s force field analysis?

A

there are always forces for and against change

84
Q

What are driving forces?

A

Positive forces for change

85
Q

What are restraining forces

A

Obstacles to change

86
Q

What are Kotter and Schlesinger’s reasons for resistance to change

A

Self interest
misunderstanding and fear
differing views
preference for the status quo

87
Q

How do Kotter and Schlesinger’s suggest to overcome change

A

Education
Participation
Facilitation
Negotiation
Manipulation
Coercion

88
Q

What does Handy’s culture show?

A

4 types of culture:
Power, role, task and person

89
Q

What is power culture?

A

centralised culture which focuses on key decision makers

90
Q

What is task culture?

A

focus on specific tasks and projects, Individuals are brought in to work on tasks as and when they are required, sharing ideas across functions

91
Q

What is role culture?

A

more formalised culture with jobs having clear rules and procedures, Individuals know their position within the hierarchy

92
Q

What can role culture lead to?

A

a silo mentality where departments and individuals do not communicate or share information

93
Q

What are Hofstede’s national cultures

A

Power distance
uncertainty avoidance
individualism vs collectivism
masculinity vs femininity
long termism vs short termism

94
Q

What is masculinity vs femininity (Hofstede’s)

A

‘masculine’ - focusing on assertiveness and money
‘feminine’ - focusing on concern for others and the quality of relationships

95
Q

What is strategic drift?

A

when the strategy pursued by a business no longer fits with the environment around it and what may have been appropriate at one point is no longer suitable as conditions have changed.

Business (14 decks)

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