THINGS I NEED FOR BUSINESS KMS Flashcards
What are the expansion strategies?
niche markets
r & d
innovations for expansion
emerging technologies
What is the modes of entry?
import and exports
licensing
international distributor
sales subsidiaries
e-commerce
overseas manufacturing
What are the finance strategies
divined – is a share of a company’s profits paid to its shareholders
private going public –> initial public offering
public market
private equity –> Investment capital provided by individuals or firms to privately owned companies in exchange for ownership stakes
government grants
What are the HR stratigies?
employer of choice
diverse workforce
job design
motivation
restructuring
training and development
selection process
What are the business facts and characteristics of a mature business?
steady cash flow
stable customer base
market saturation
what is the domestic market?
The domestic market refers to the trade, commerce, and economic activities that take place within a single country’s borders, where businesses sell goods and services to local consumers and operate under the country’s regulations and currency.
What is the global market?
The global market refers to the interconnected system of trade and commerce where goods, services, investments, and capital flow between countries, enabling businesses and consumers worldwide to buy, sell, and exchange products and resources.
Explain the maturity stage of the business Lifecyle
The maturity stage of the business lifecycle is when a company experiences stable growth, consistent profitability, and a strong market presence. Growth slows as the market becomes saturated, and the focus shifts to efficiency, innovation, or diversification to maintain relevance.
What are the challenges of the business lifecycle?
In the maturity stage of the business lifecycle, challenges include maintaining growth in a saturated market, fending off competition, staying innovative, and managing costs efficiently. Without continuous adaptation, businesses risk stagnation or decline.
What are some strategies that businesses in the maturity stage would adopt
- adaption of new products
- developing a niche market
- exporting product
- innovation
- r and d
- new technologies
Explain the roles of development and maintenance stage
- development –> development of skills for a business
- maintenance –> most efficient and best worker
Explain risk management during expansion
Risk management during business expansion involves carefully assessing and mitigating potential challenges to ensure smooth growth. This includes conducting thorough market analysis to understand new demand, competition, and cultural factors, along with ensuring solid financial planning to manage cash flow and avoid overextension.
Explain the relationship employer of choice and maturity stage
In the maturity stage, a company striving to become an employer of choice focuses on maintaining a strong, attractive workplace culture to retain top talent, ensuring long-term success and stability in a competitive market.
explain the interrelationship between motivation theories, staff retention and employer of choice
Motivation theories, staff retention, and being an employer of choice are closely interrelated. Motivation theories, such as Maslow’s hierarchy of needs or Herzberg’s two-factor theory, highlight how meeting employees’ intrinsic and extrinsic needs can increase job satisfaction and performance.
