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Business A Level > Theories > Flashcards

Theories Flashcards

1
Q

Ansoff Matrix Definition

A

New or existing products in new or existing markets, suggested growth strategies

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2
Q

Ansoff Matrix Diagram

A
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3
Q

Balance Scorecard Definition

A

Help firms measure business performance with both financial and non-financial methods

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4
Q

Balance Scorecard Diagram

A
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5
Q

Bartlett and Ghoshal Model of International Strategy Definition

A

The strategic options for businesses wanting to manage their international operations based on two pressures: pressure of local responsibility and global intergration.

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6
Q

Bartlett and Ghoshal Model of Internation Strategy Diagram

A
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7
Q

Key Features of a Global Strategy

A
  1. Highly centralised
  2. Focus on efficiency
  3. Little sharing of expertise locally
  4. Standardised products
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8
Q

Key Features of an Transnational Strategy

A
  1. Complex to achieve
  2. Aims to maximise local responsiveness but also gain benefits from global intergration
    1. Wide sharing of expertise
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9
Q

Key Features of an Internation Strategy

A
  1. Aims to achieve efficiency by focusing on domestic activities
  2. Largely managed centrally
  3. Relatively little adaption of products to local needs
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10
Q

Key Features of a Multi-Domestic Strategy

A
  1. Aims to maximise benefits of meeting local needs through customisation
  2. Decision-making decentralised
  3. Local business treated as a seperate business
  4. Strategies for each country
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11
Q

Blake Mouton Grid Definition

A

Map of different managerial styles

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12
Q

Blake Mouton Diagram

A
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13
Q

Boston Matrix Definition

A

A model which helps businesses analyse their portfolio or businesses and brands.

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14
Q

Boston Matrix Diagram

A
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15
Q

What are Stars in Boston Matrix

A
  1. High growth products
  2. Need heavy investment
  3. Become cash cows
  4. Competitive
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16
Q

What are cash cows?

A
  1. Low-growth products
  2. Mature successful products
  3. Little investment
  4. Managed for continued profit
17
Q

What are question marks?

A
  1. Low market share operating in high growth markets
  2. Have potential but need huge amounts of investment
  3. Managers choose which have potential
18
Q

What are dogs?

A
  1. Low market share in unattractive markets
  2. May break-even
  3. Not worth investing in
  4. Sold or closed
19
Q

Bowmans Clock Definition

A

Explores options for strategic positioning, a business has a variety of options to position a product

20
Q

Bowmans Clock Diagram

A
21
Q

Bowman’s Clock Position 1

A

Low Price, Low Added Value

  • Not competitive for a business
  • No product differentiation
  • Bargain strategy
22
Q

Bowman’s Clock Position 2

A

Low Price

  • Low cost-leaders in a market
  • Cost minimisation is required
  • Profit margins are low but high output can still generate high profits
  • Price wars
23
Q

Bowman’s Clock Position 3

A

Hybrid

  • Low price, product differentiation
  • Persuade customers that reasonable price can have good added value
  • Can be very effective if added value is consistent
24
Q

Bowman’s Clock Position 4

A

Differentiation

  • Highest level of perceived added value
  • Branding is key
  • Customer loyalty can make this the most effective
25
Q

Bowman’s Clock Position 5

A

Focus Differentiation

  • Highest price with high added value
  • Luxury brands
  • Highly targetting segmentation, promotion and distribution
  • Can lead to very high profit margins
  • Sustainable long term strategy
26
Q

Bowman’s Clock Position 6

A

Risky High Margins

  • Doomed to failure
  • High prices with no extra percieved added value
  • Long term is an uncompetitive strategy
  • Customers will find a cheaper alternative
27
Q

Bowman’s Clock Position 7

A

Monopoly Pricing

  • Only business in market
  • No alternatives so high pricing
  • Regulation stops this
28
Q

Bowman’s Clock Position 8

A

Loss of Market Share

  • Recipie for failure in a competitive market
  • Standard price with low added value
  • Much better alternatives for the same price
29
Q

Carroll’s CSR Pyramid Definition

A

Simple framework that helps argue how and why organisations should meet their socail resposibilities

30
Q

Carroll’s CSR Pyramid Diagram

A
31
Q

Strengths of CSR Pyramid

A
  • Easy to understand
  • Simple message
  • Emphasises importance of profit
32
Q

Weaknesses of CRS Pyramid

A
  • Too simplistic
  • Should ethics be at the top
  • Businesses don’t always claim what they do
33
Q

Core Competetencies Definition

A

Capabilities critical to businesses achieving competitive advantages

34
Q

3 Factors for Core Competencies

A
  1. Provides potential access to a wide variety of markets
  2. Makes a significant contribution to the perceived customer benefits of the end product
  3. Difficult for competitiors to imitate
35
Q

Economies of Scale

A

When costs fall as output rises

36
Q

Diseconomies of Scale

A

When businesses grow too large that their unit costs increase

37
Q

Reasons for Diseconomies of Scale

A
  • Lack of Motivation, employees feel more isloated in a large business. Harder for managers to stay in constant contact and build up relationships
  • Poor Communication, Chain of command becomes harder to communicate through, wide span of control and hierarchy mean messages can get mixed up.
  • Loss of Direction and Co-ordination, Hard to ensure all workers are working to the same goal, harder to supervise. More delegation means less control
38
Q

Types of EOS

A
  • Technical as businesses can afford to invest in specialist capital.
  • Specialisation of the workforce, Split complex production processes into smaller tasks to boost productivity.
  • Marketing, spread large advertising and marketing budget over a large output (bulk buying)

Business A Level (11 decks)

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