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Business > Theorists > Flashcards

Theorists Flashcards

1
Q

Ansoff matrix

A

Helps determine product and market growth strategy. Extension strategy (prolong life of product cycle)

Market penetration - existing product existing market
Market development existing product new market
Product development new product existing market
Diversification new product new market

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2
Q

Ansoff market use

A

Market penetration - increase market share/dominance, drive out competition and

Market development - new geographic locations,

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3
Q

Balance scoreboard (Kaplan) *

A

Looks at both financial and non-financial elements of performance.

Identifies KPI (key performance indicators)

Improve vision and strategy

Financial (operating margin)
Customer - satisfaction (rating and level of returns)
Internal process - business efficiency (unit costs)
Organisational capacity - knowledge and innovation (employee retention, new business ideas)

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4
Q

Bartlett -ghoshal*

A

Pressure for local responsiveness vs pressure for global integration

Global L&H)
High centralised 
Transnational (H&H) 
International (L&L)
Multi-domestic (H&L)
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5
Q

Blake mouton

A

Leadership styles

Concern for people vs production

Team management (H&H)
country club (H&L)
Middle road 
Produce or perish 
Impoverished (L&L)
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6
Q

Boston matrix

A

Compares market growth with market shares

Starts (H&H) (profitable growth stage) potential to be future cash cows (need promotions)
Cash cow (L&H) (maturity)
Question marks (H&L)
Dogs (L&L)

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7
Q

Bowmans Strategic clock

A

Achieving sustainable competitive advantage by offering consumers greater value (lower price or greater benefits making higher price justifiable)

explores strategic positions (product should be positioned to give it most competitive position)

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8
Q

Bowmans strategic clock

A
  1. Low price, low value added (bargain basement) - not sustainable as competitors can undercut
  2. Low price
    (Low cost leaders e.g Aldi, Lidl) - cost minimisation. Profit margins low but high volume (profits)
  3. Hybrid - low price and product differentiation (e.g IKEA)
  4. Differentiation highest level of perceived value. Branding key role. High quality product with strong brand awareness and loyalty (e.g Starbucks)
  5. Focused differentiation (high price high perceived value) - luxury brands (premium pricing) e.g Louis Vuitton
  6. High risky margins - high price without offering anything extra in terms of perceived value. Customers find better products.
  7. Monopoly pricing - only business offering product(no concern with value perceived as the only choice is to buy it or not. No alternatives.
  8. Loss of market share - - standard price with low perceived value (better options for consumer)
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9
Q

Trade cycle

A

4 functions of the economy affecting levels of demand/sales/employment/GDP with economy.

Boom
Slump
Recession
Recovery

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10
Q

Carolls CSR pyramid*

A

Corporate responsibilities

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11
Q

Decision tree

A

Expected value: Times the profitability with financial result

Net gain: add expected value then deduct costs

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12
Q

Grenier curve

A

Predicts 6 phases/crises that businesses face as they grow

  • creativity (leadership)
  • direction (autonomy) - work and authority need to be delegated
  • delegation (control) organisation need to work better together
  • co-ordination (red tape) bureaucracy gets burdensome
  • collaboration bureaucracy is replaced use of good judgement (internal growth)
  • alliances - partnering with other business e.g outsourcing (identity)
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13
Q

Handy *

A

Organisational culture

  1. Power
  2. Role
  3. Task
  4. Person
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14
Q

Hertzberg*

A

Motivation theory

Motivators - achievement and recognition

Hygiene factors - working conditions, pay. Not good enough = dissatisfied

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15
Q

Hofstede*

A

Cultural dimensions:

  1. Power distance - acceptance power that is distributed unequally
  2. Individualism vs collectivism
    Personal achievements
    Vs collective
  3. Masculinity vs femininity
    Distribution of roles
  4. Long term vs short term
  5. Avoidance high vs low
    Minimise risk and unusual circumstances
    Accept change
  6. Indulgence vs restraint
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16
Q

Investment appraisal

A

Analyse whether investment projects are worthwhile.

Three methods

Payback (time to repay initial investment)
ARR (average rate of return) - looks at total accounting return to see if it meets target return

NPV (discounted cash flow) - monetary value now of projects future cash flow

17
Q

Investment appraisal - NPV

A

Present value = cash flow x discount factor

NPV (net present value) Investment in year 0 then add values each year (1,2,3,4)
250
300
 325
250
18
Q

Investment appraisal - payback

A

Investment in year 0 is cost.

Year 1 inflow add to cumulative cash flow outflow minus to cumulative cash flow

Repeat for 2, 3, 4 till payback.

In between? / 12 for one month

19
Q

Investment appraisal - ARR

A

( Total net profit / no. Of years ) / initial costs x100

20
Q

Kaizen

A

Continuous improvement

21
Q

Kotter

A

How to overcome resistance to change

  1. Education and communication
  2. Participation and involvement
  3. Facilitation and support
  4. Negotiation and agreement
  5. Manipulation
  6. Explicit coercion (last resort - force to accept change)
22
Q

Leadership styles

A

Autocratic
Democratic
Lassiez-faire

23
Q

Maslow hierarchy of needsl

A

Meet needs of bottom and work way up

Self actualisation 
Esteem needs - recognition that 
Social needs - friendship/ teamwork
Safety needs - job security 
Basic Psychological needs - shelter
24
Q

Lewins force field - field analysis

A

Forces driving change vs forces resisting change (driving vs restraining)

Driving
Internal- need profits, lack of innovation, poor efficiency
External-Pestel

Restraining
Self interest
Competition
Misunderstanding

25
Q

Mayo

A

Motivation theory social needs

26
Q

Porters five forces

A 
Customers 
Suppliers 
Market entry
Substitutes 
Rivalry
27
Q

Product life cycle

A

Introduction - launch (relies heavily on promotions)
Growth - sales increasing at fast rate
Maturity - sales are stable(at its peak)
Decline - sales fall (doesn’t appeal to customers any more)

28
Q

Stakeholder mapping (have interests in the business and are affected)

A

Compares power with interests

Internal : owner, employees

External : customers, government, suppliers, shareholders

high power high interests (manage closely)
High power low interests (keep satisfied)
Lower power high interests (keep informed)
low power and low interests (monitor)

29
Q

Tannenbaum and schidmt

A

Leadership styles

30
Q

Triple bottom line

A

Assessing business performance

3p’s

Financial Profit - measure of success 
Social People (socially responsible - hard to calculate) 
Environmental Planet (emissions)
31
Q

Taylor

A

Scientific management

Financial incentives (motivate and raise productivity)

Performance related pay

32
Q

Motivation theories

A

Taylor

Mayo

Maslow

herzberg

Non financial

33
Q

Non financial motivation - Job design

A

Job enlargement - more work at same level

job rotation

Job enrichment

Job empowerment

34
Q

Inventory control

A

Lead time = point of reorder level and minimum stock level

Buffer sock- point of minimum to 0 (reserve of commodity)

Business (3 decks)

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