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Business Examples Flashcards

1
Q

How ethos and values affect a business mission?

A

Body Shop heavily influenced by ethos and values of its founder, Anita Roddick

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2
Q

How are mission, corporate objectives and strategy linked?

A

Google’s mission is to organise the world’s information.
This informs Google’s objectives which include improving user experiences and a strategy to support this objective is investing in long-term research and development to discover new technologies.

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3
Q

Example of a strategic approach.

A

Tesco

Tesco taking over Booker in 2018 is a strategic approach to growth which may require many resources and can be hard to reverse. Booker is a food supplier and merging with Tesco could have provided purchasing economies of scale

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4
Q

Example of a tactical approach.

A

Tesco

Tesco deciding to trial new scanning technology in one of its stores. This is a tactical approach to improving the use of technology which requires fewer resources and can be abandoned or reversed.

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5
Q

Strengths of Uber (SWOT analysis).

A
  1. A famous brand name. Uber is perceived by most consumers as innovative.
  2. 110 million users in the world
  3. 69% market share in 2019 in the USA
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6
Q

Weaknesses of Uber (SWOT analysis).

A
  1. There are lots of other taxi-ordering services like Lyft, MyTaxi, Kapten, Hailo etc.
  2. There are lots of other food delivery services like Just Eat and Deliveroo.
  3. Uber is not very profitable. As of 2020, Uber’s net profit margins were below 0%.
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7
Q

Opportunities for Uber (SWOT analysis).

A

Uber has already tried to expand internationally with its taxi service, so there is not a growth opportunity there. However:

  1. It already offers taxis and food delivery in the USA, where it has a big market share. It could offer more services, like grocery delivery, or it could create an Uber banking app and give you food & taxi credits on there for using it. Kinda like Venmo or PayPal.
  2. Uber also has a great app with lots of data on traffic and people’s movement. It could offer this to delivery or postal businesses like Royal Mail, Deutsche Post or UPS (in the USA).
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8
Q

Threats for Uber (SWOT analysis).

A
  1. Businesses that make cars, like Daimler (which owns Mercedes) have invested in taxi-rental apps.
  2. Self-driving (autonomous) cars could mean that Uber’s network of drivers is no longer a big advantage in being able to offer consumers rides or food delivery quickly.
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9
Q

Core competencies examples.

A
  1. IKEA -Innovstive design capabilities and unique organisational culture.
  2. Apple- integrated ecosystem of software and devices and design built around the user.
  3. Domino’s- integration of multi-channel system and profitable franchise model.
  4. Starbucks - localised customer experience and differentiated global brand.
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10
Q

Business example for advantage of core competencies.

A

Core competences allow businesses to add value throughout their production process.
For example, Apple’s reputation as an innovative technology manufacturer allows it to add value to the products it creates, as customers are usually happy to pay a higher price for a product associated with the brand.

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11
Q

Example of disadvantage of outsourcing non-core competences.

A

Apple outsourced the production of some mobile phone components to Foxconn, who have been accused of poor working conditions and safety breaches.

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12
Q

Business examples to suggest that all 4 areas of the Kaplan and Scorecard should be looked at not just financial performance.

A

if Foxconn assessed its performance using the balanced scorecard, employee engagement concerns may be identified which affect the business’ overall performance, despite profit and profitability data indicating greater performance within the area of finance.

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13
Q

Elkington Triple Bottom Line application-BP

A

When measuring the performance of BP using financial information such as profit and profitability, managers and leaders may see indications of success. However, when using Elkington’s Triple Bottom Line, managers and leaders may have concerns about BP’s performance because of its impact on the environment (planet) following the Deepwater Horizon oil spill which also led to many deaths (people).

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14
Q

How political and legal changes can be a threat to a business?

A

the introduction of the National Living Wage presented a threat for many businesses as total costs increased.

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15
Q

Example of impact of competition law.

A

In 2016 Three’s takeover of mobile operator, O2 was banned on the basis that competition would be reduced substantially and this could lead to the exploitation of consumers.

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16
Q

Example of impact of environmental law.

A

VW was accused of an environmental scandal which failed to comply with environmental regulations.

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17
Q

Example of how small enterprises are supported.

A

Responsibility of The Department for Business, Innovation and Skills (BIS).

Small Business, Enterprise and Employment Act 2015 make it easier for small businesses to establish and grow in the UK.

Furthermore the government provides schemes for those wishing to access a loan for the purpose of starting a new business.

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18
Q

Example of regulators.

A

the Financial Conduct Authority is a financial regulator which can intervene in banking and lending products to ensure customers are receiving a fair and transparent deal.

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19
Q

Examples of infrastructure

A

Infrastructure Act 2015 regulates the funding, planning, management and maintenance of national infrastructure.

More than 200 projects started construction between 2014 and 2017 including HS2 and Heathrow terminal 2 upgrade

20
Q

Who is international trade managed through?

A

UK Trade and Investment (UKTI)

21
Q

Example of impact of changing exchange rates.

A

For example, if Lidl imports goods from Spain, and the Pound Sterling weakens against the Euro, the price of imports will increase in Pounds. This will affect the decisions made about order quantities and selling prices.

22
Q

Example of protectionist measures.

A

banana sellers are affected by protectionist measures governing the trade of bananas and this affects supply and cost.

23
Q

Examples of Transnational Corporations (TNCs) using glocalisation.

A

For example, lots of global food TNCs offer a different menu in India where beef is not eaten.
Since 2012, McDonald’s has served the McVeggie and McSpicy Paneer in India.

24
Q

Example of glocalisation reflecting laws.

A

Sometimes, glocalisation reflects the different laws in different countries.
For example, BMW makes right-hand drive cars for the UK because we drive on the left whereas, in Germany, cars are left-hand drive.

25
Q

Examples offshoring.

A

BT

BT outsources some of its call centre work to India to benefit from lower labour costs there.
The large English-speaking population of India means that it is possible to have the call-centres of a British TNC in another country.

Nike

Nike produces all of its trainers in various locations abroad.
China has the most factories but there are also production plants in Thailand, South Korea, Vietnam and India.

26
Q

The impact of migration on businesses

A

As migration continues, demand in the UK for Polish food shops may increase and this may affect retailers such as Tesco and Asda.

27
Q

Ageing population

A

For example, Saga holidays, which targets over 50s with holiday packages, may need to increase its capacity as demand from over 50s increases for its holiday products

28
Q

Increased emphasis on healthy eating

A

For example, McDonalds must respond to these changes in demand and in June 2018 introduced a healthier children’s menu.

Burger King introduced a new Whopper made with artificial meat from the company Impossible Foods.

In 2018, Tesco partnered with a company called Wicked. They provide completely vegan meals on the go

29
Q

Emphasis on wellness

A

For example Fitbits, will increase, and this may affect businesses such as Vue as consumers change their hobbies and habits

30
Q

Advancements in ecommerce

A

For example, Morrisons only introduced online shopping several years after their competitors did. They initially partnered with Ocado to do their online food retail business.

Hello Fresh is a company where you can order healthy meals online and get the ingredients delivered to your door.

31
Q

Increased use of social media

A

For example, consumers expect to be able to contact businesses through social media and businesses must respond by updating their processes to offer this contact method if they are to maintain competitiveness.

32
Q

The impact of technology and customer preferences

A

Discord and Caffeine are two businesses changing how people are interacting with sports and eSports. This has implications for traditional media businesses like Sky and video game businesses like Electronic Arts.

33
Q

Increase in ecommerce and wellness

A

Fiit is a business which supplies online gym classes by personal trainers.

34
Q

Business who satisfies csr to the community and how?

A

XEROX offers several initiatives to support local communities including the Green World Alliance, the Electronic Industry Citizen Coalition and the XEROX Community Involvement Program. These commitments to social responsibility indicate the value XEROX places on social responsibility above and beyond its pursuit of profit and its obligation to meet basic legal requirements.

35
Q

Rivalry for Porters 5 forces

A

Coca-Cola and PepsiCo provide strong competition

36
Q

Industry example of porters 5 forces

A

The technology market has high barriers to entry as start-up costs are very high. High barriers to entry may reduce competitiveness within a market as it is more difficult for new businesses to enter.

37
Q

Give a business example fpr the disadvantage of Porters 5 forces that they focus too much on the current industry.

A

The framework would not have driven Apple to develop the iPhone, or Facebook to develop Virtual Reality. They are too focused on 1 small industry.

38
Q

Organic growth

A

For example, Tesco introducing Tesco Mobile is organic growth.

39
Q

External growth

A

For example, Morrisons purchased Safeway which is external growth.

Coca Cola took over Innocent Drinks. Took over 90% of Innocent.

40
Q

Example of rentrenchment

A

For example, Morrisons removed a layer of supervisors from its hierarchy to reduce cost so that it could focus on growing its core business offer.

41
Q

Technical economies of scale

A

For example, Coca Cola’s production line is likely to be more efficient than a competitor with a much less advanced production system; this reduced Coca Cola’s cost for every unit produced.

42
Q

Example of purchasing economies of scale.

A

For example, Amazon may buy 30,000 units of a product from a manufacturer and will pay less per unit than an independent retailer only purchasing 100 units.

43
Q

Example of managerial economies of scale.

A

For example, Tesco will employ a Human Resource director whereas a much smaller retailer may not have the capacity for such a specialist role. Specialist staff members are more efficient, more productive and make fewer mistakes and this reduces cost per unit produced.

44
Q

Example of economies of scope.

A

For example, the cost of McDonald’s advertisements can be spread across its portfolio which reduces the cost of advertisement attributed to each product.

45
Q

Example of improving employee engagement.

A

For example, Google allows its employees to spend 20% of their working time on a project of their choice.

46
Q

Businesses providing employmeny

A

In 2019, Tesco employed around 300,000 staff.

Business (16 decks)

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