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Empresa > Segundo Parcial > Flashcards

Segundo Parcial Flashcards

1
Q

Simple yet very useful decision-making tool. It is the acronym for strengths, weaknesses, opportunities and threats

A

SWOT analysis

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2
Q

Internal factors that are favorable compared to competitors.
Examples: strong brand loyalty, good image, highly skilled workers

A

Strengths

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3
Q

Internal factors that are unfavorable when compared with rivals. They create competitive disadvantages

A

Weaknesses

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4
Q

External possibilities (prospects) for future development. Changes in the external environment that create favorable conditions for a business

A

Opportunities

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5
Q

External factors that hinder the prospects for an organization. They cause problems for the business

A

Threats

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6
Q

Analytical tool that helps managers to choose and devise various product and market growth strategies

A

Ansoff matrix

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7
Q

Low-risk growth strategy as businesses choose to focus on selling EXISTING PRODUCTS IN EXISTING MARKETS to increase their market share of current products

A

Market penetration

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8
Q

Medium-risk growth strategy that involves selling NEW PRODUCTS IN EXISTING MARKETS.

A

Product development

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9
Q

Medium risk growth strategy that involves selling EXISTING PRODUCTS IN NEW MARKETS. An established product is marketed to a new set of customers.

A

Market development

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10
Q

High-risk growth strategy that involves selling NEW PRODUCTS IN NEW MARKETS.

A

Diversification

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11
Q

Occurs when a business caters for new customers within the broader confines of the same industry. A business acquires new products of the same type than previous ones.

A

Related diversification

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12
Q

Refers to growth by selling completely new products in untapped markets

A

Unrelated diversification

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13
Q

Any person or organization with a direct interest in, and is affected by, the activities and performances of a business

A

Stakeholder

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14
Q

Members of the organization that are present in it. Including employees, managers, directors and shareholders of the organization

A

Internal stakeholder

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15
Q

People who oversee the daily operations of a business.

A

Managers

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16
Q

Senior executives who have been elected by the company’s shareholders to direct business operations on behalf of their owners.

A

Directors

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17
Q

Stakeholder group that invests money in a company by purchasing its shares

A

Shareholders (stockholders)

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18
Q

They don’t form part of the business but have a direct interest or involvement in the organization. For example: customers, suppliers, pressure groups, competitors and the government

A

External stakeholders

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19
Q

Provide a business with stocks of raw materials, component parts and finished goods needed for production.

A

Suppliers

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20
Q

Individuals with a common interest who seek to place demands on organizations to act in a particular way or to influence a change in their behavior.

A

Pressure groups

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21
Q

Rival businesses of an organization

A

Competitors

22
Q

Model that assesses the relative interest of stakeholders and their relative power (or influence) on businesses

A

Stakeholder mapping

23
Q

Acronym for the social, technological, economic, environmental, political, legal and ethical opportunities and threats of the external business environment.

A

STEEPLE

24
Q

External factors that present chances for business

A

Opportunities

25
Q

External factors that can harm a business

A

Threats

26
Q

Social, cultural and demographic factors that affect directly the activities of a business. Values and attitudes of society towards certain issues (ethics, women, religion, rights, etc.)

A

Social opportunities and threats

27
Q

Advances in technology and work processes that improve productivity. Also, the high cost of staying up to date with technological process might cause problems to businesses.

A

Technological opportunities and threats

28
Q

Refers to the state of economy in which business operate

A

Economic environment

29
Q

Is the continual rise in the general level of prices in an economy

A

Inflation

30
Q

Measures the proportion of a country’s workforce not in official employment.

A

Unemployment rate

31
Q

Increase in a country’s economic activity over time. Measured by the GDP.

A

Economic growth

32
Q

Pattern of fluctuations in economic growth

A

Business cycle

33
Q

Level of economic activity rises with consumer expenditure, investment and export earnings all increasing. Economic activity is at its peak.

A

Boom

34
Q

Occurs when there is a fall in GDP for two consecutive quarters (half a year). Lower investment, falling export sales and rising unemployment

A

Recession

35
Q

Refers to the bottom of a recession and the last stage of decline in the business cycle, with high unemployment and very low consumer spending, investment and export earnings.

A

Trough (or slump)

36
Q

Occurs when the level of GDP starts to rise again, after the economy has experienced a slump

A

Recovery

37
Q

Measures the value of the domestic currency in terms of foreign currencies

A

Exchange rate

38
Q

Refers to any government policy used to safeguard domestic businesses from foreign competitors

A

Protectionist measures

39
Q

Is the use of taxation and government expenditure policies to influence business activity

A

Fiscal policy

40
Q

Taxation and interest rate policies are…

A

Political opportunities and threats

41
Q

Used when the economy experiences high rates of economic growths and inflation

A

Deflationary fiscal policy

42
Q

Used to boost business activity, perhaps to get the economy out of a recession

A

Expansionary fiscal policy

43
Q

Use of interest rate policy to affect the money supply and exchange rates in order to influence businesses activity.

A

Monetary policy

44
Q

To provide opportunities for businesses to prosper

A

Deregulation

45
Q

Rules, regulations and laws imposed by the government are…

A

Legal opportunities and threats

46
Q

Laws exist that make it illegal for businesses to provide false or misleading descriptions of their products and services

A

Consumer protection legislation

47
Q

These laws protect the interests and safety of workers

A

Employee protection legislation

48
Q

Laws ensure that anticompetitive practices are prohibited to protect customers and smaller businesses from firms with monopoly power

A

Competition legislation

49
Q

Laws exist to prevent or reduce the consumption of demerit goods (tobacco, petrol, alcohol, drugs).

A

Social and environmental protection legislation

50
Q

Moral principles that are, or should be, considered in business decision-making

A

Business ethics

Empresa (7 decks)

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