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Business > SWOT > Flashcards

SWOT Flashcards

0
Q

PESTLE?

A

Political, economic, sociological, technological, legal & environmental

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1
Q

Define SWOT?

A

Strengths
Weaknesses
Opportunities
Threats

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2
Q

Pestle = external

A

External = no control!!

Outside of the business

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3
Q

Political

A

Actual & Potential political pressure ✏️

What’s happening politically?

Enforcement from Central, regional & local governments

Directives from EU

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4
Q

Economic

A

Micro & Macro Pressures

Changes in interest rates
Exchange rates
Employment levels - charge more or less for products
Recession in trade cycle = reduced prices

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5
Q

Sociological

A

Impact on the way people live & behave in society!!
What’s occurring?
Population growth, age, career, attitudes, safety, global warming!!
Lifestyles, social behaviour, unemployment & employment levels (more&less

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6
Q

Technological

A

Actual & New emerging technologies

Pressure for business who can’t afford it!! Disadvantage

Developments in tech

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7
Q

Legal

A

Existing or forthcoming legislation likely to affect the product!!

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8
Q

Environmental

A

Issues local, regional, national & international

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9
Q

Advantages

A

Simple framework to follow

Simple & allows you to understand the wider environment

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10
Q

Disadvantages

A

To be effective it has to be updated regularly
Time consuming
Pace of change 24/7 - hard to spot problems
Too much data = overload
Based on assumption - not true??

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11
Q

Internal influence - influences WITHIN the business

A

Influence marketing decisions!

Judgements are made to how important each of them are to affect the business/success!!

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12
Q

Corporate strategy

A

The way the business has chosen to run itself to meet its long term aims & objectives!!

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13
Q

External - outside of the business = no control ⛔️⛔️

A

Customer & consumer
Buy. Use.

Customer = distributor who operates between business & consumer

To understand

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14
Q

Competition = external ⛔️

A

Direct

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15
Q

Indirect competition

A

Less easy to mange!
Form of competition to the way we spend our money!

Left with disposable income and indirect completion want you to spend it!!

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16
Q

Disposable income

A

Is the amount of money a user has left after statutory dedications & substational living costs!

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17
Q

Distribution

A

Supply chain

Primary
Secondary
Tertiary

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18
Q

External influences that affect performance of organisations

A 
Legislation
Competition 
Price war 
Government taxes 
Minimum wage
Interest rates 
Quality
Disposable income 
Education
19
Q

Why manage influences?

A

Keep workers happy ☺️

Helps meet business objectives

20
Q

PLC

A 
Development 
Introduction 
Growth 
Mature
Decline
21
Q

Boston matrix

A

A means of analysing products & informing decision making

22
Q

Stars ⭐️

Cash cows

A
23
Q

Diagram

A

Market growth
High Question ? Stars

Low Dogs Cash cows

         Low.                    High  
                                 Market share
24
Q

Stars ⭐️

A
25
Q

Cash cows

A

High market share
Low growth markets
Maturity stage

26
Q

Dogs

A

Low growth market
Declining/low markers share
Negative cash flow
Large sums of money to support

27
Q

Question marks

A

Low market share in a high growth market

Needs money to develop it
Negative cash flow
Future potential?

28
Q

Question marks

A

Products that have just been launched

Many products fail to move beyond this phase!
Could progress but would require a lot of financial commitment!

29
Q

stars ⭐️

A

Successfully reached the growth stage in the life cycle!!

require lots of financial support

30
Q

Cash cows

A

Maturity stage!!

High market share

31
Q

Dogs

A

Products in decline
Low market share
Negative cash flow
Usually disposed of!!!

32
Q
A
33
Q

DIGMD

A 
Daisy 
Is 
Gay 
Mai 
Bow 
Develop
Introduction - QM
Growth - stars 
Maturity - cash cows 
Decline - dogs
34
Q

Strategic Decision

A

Long Term!!!

Major decision for any business

35
Q

Tactical Decision

A

Short Term!!!

36
Q
A

Question mark - chocolate bar
Dog - CD player
Star - iPhone
Cash cow - cadburys/baked beans

37
Q

Tactical & Strategic

A

Tactical - short term 1 day to 1 year

Strategic - longgg term 1 year to 5 years

38
Q

SWOT

A 
S&W = internal 
O&T = external
39
Q

Strengths

A

Advantages of idea
USP
Resources available
Strengths in MM

40
Q

Weaknesses

A 
Disadvantages of idea
Competitive weakness 
Financial weakness 
Vulnerabilities 
Weaknesses within MM
41
Q

Opportunities

A 
Market developments 
Competitors weaknesses 
Technological developments 
New markets 
Business & product developments
42
Q

Threats

A

Legislation & gov guidelines

Environmental affects

43
Q

PESTLE

A

Improve PESTLE

44
Q

SWOT & PESTLE

A
45
Q

Micro-environment

A

Microwave = direct!!

Factors that impact directly upon a business!

Market environment & internal environment

46
Q

Market Environment

A

Involves nature of market & groups of stakeholders who are served/impacted by business!!

Market environment = consumers, distributors, suppliers, competitors & public interest groups

Consumers =

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