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SBL > Tools and Theories > Flashcards

Tools and Theories Flashcards

1
Q

What would you use if you were discussing a macroenvironment?

A

PESTEL

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2
Q

What does PESTEL stand for?

A 
Political 
Environmental
Social
Technological 
Economic
Legal
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3
Q

What would you use if you were discussing a national/geographic advantage?

A

Porter’s Diamond

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4
Q

What is included in the Porter’s Diamond?

A 
Strategy, Structure and Rivalry
Demand Conditions
Relates and Supporting Industries
Factor conditions
AND: Role of the government
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5
Q

What would you use if you were discussing the attractiveness of a market?

A

Porter’s 5 forces

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6
Q

What is included in Porter’s 5 forces?

A 
Threat of substitutes
Threat of new entrants
Bargaining power of buyers
Bargaining power of suppliers
Competitive rivalry
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7
Q

What would you use if you were discussing key capabilities or understanding the difference between two organisations?

A

Porter’s Value Chain

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8
Q

What is included in Porter’s Value Chain?

A 
SUPPORT:
Firm infrastructure
HR Management
Technology Development
Procurement
PRIMARY:
Service
Marketing + Sales
Outbound logistics 
Operations
Inbound logistics
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9
Q

What would you use if you were discussing insourcing and outsourcing?

A

Value Network

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10
Q

What questions would you ask for the Value Network?

A 
Where are cost and value created?
Which activities are centrally important?
Where are the profit pools?
Make or buy?
Who are the best to partner with?
What are the best relationships to have?
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11
Q

What would you use if you were discussing the success of a company?

A

9Ms

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12
Q

What is included in the 9Ms

A 
Money
Machinery
Materials
Manpower
Make up
MIS (info)
Management
Methods
Market
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13
Q

What would you use if you were discussing internal analysis?

A

SWOT

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14
Q

What is included in SWOT

A

Strengths
Weaknesses
Opportunities
Threats

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15
Q

What would you use if you were discussing marketing?

A

7Ps

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16
Q

What is included in the 7Ps

A 
Product
Price
Promotion
Place
People (S)
Processes (S)
Physical evidence (S)
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17
Q

What would you use if you were discussing price v value?

A

Strategic Clock

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18
Q

What is included in the Strategic Clock?

A

Price based:

  • No frills
  • Low price

Differentiation:

  • Hybrid
  • Differentiation
  • Focussed differentiation

Failure:

  • Price based
  • Differentiation
  • Lock in
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19
Q

What would you use if you were discussing a product portfolio?

A

BCG Matrix

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20
Q

What is included in the BCG matrix?

A

High growth, high market share> star
High growth, low market share > Question mark
Low growth, high market share > Cow
Low growth, low market share > dog

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21
Q

What would you use if you were discussing existing or new products/markets?

A

Ansoff’s Matrix

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22
Q

What is included in Ansoff’s matrix?

A

Existing product, existing market > Market penetration
Existing product, new market > Market development
New product, existing market > Product development
New product, new market > diversification

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23
Q

What would you use if you were discussing a company’s culture?

A

Cultural Web

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24
Q

What is included in the cultural web?

A
  1. Symbols
  2. Power
  3. Stories
  4. Control systems
  5. Structure
  6. Rituals/Routine

THEN: Paradigm

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25
Q

For the cultural web, what are stories?

A

What people tell about the organisation

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26
Q

For the cultural web, what are symbols?

A

Objects, acts of people - visual reps

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27
Q

For the cultural web, what is power?

A

Person or group who hold power

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28
Q

For the cultural web, what is the organisational structure?

A

Power structure

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29
Q

For the cultural web, what are control systems?

A

Measurement and reward systems

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30
Q

For the cultural web, what are routines and rituals?

A

The way we do things

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31
Q

For the cultural web, what is the paradigm?

A

Set of assumptions and collective experience

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32
Q

When asked to report on two investments, what do you use?

A

Suitability
Acceptability
Feasibility

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33
Q

When asked to consider the key factors influencing finance, what could you say? (5)

A 
Cash held
Cost of borrowing
Security
Risk
Equity finance and control
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34
Q

When asked about the major project variables, what would you say? (4)

A

Expenditure
Time
Quality
Issues

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35
Q

When explaining the implications for governance with an acquisition/ VC injection, what could you say? (10)

A 
Leadership
Timeframe
Objectives
Leadership Style
Intro of NEDs
Remuneration
Relations with shareholders
Risk Management and Internal Controls
Aligned Risk Appetite
More robust risk management
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36
Q

When asked for the weaknesses of current management accounts, what could you suggest? And 2 recommendations?

A

Product portfolio profits
Overhead breakdowns
Cost per person
Job category breakdowns

Variance reporting
More balanced measures

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37
Q

What are some KPIs for hotels?

A
  • Occupancy rates
  • Average daily rate
  • Revenue per room
  • Gross operating profit per square metre
  • Customer satisfaction
  • Carbon footprint
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38
Q

What are the components of integrated reporting?

A 
Financial
Manufacturing
Human
Social
Intellectual
Natural
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39
Q

What are the key benefits of data analytics?

A

Consumer behaviour tracking
Open communication channels
Predictive analytics
Analysis of behaviours

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40
Q

What are the main opportunities of big data analytics?

A 
Unlock value
Collect more accurate info
Segmentation
Decision making improvements
Develop next generation
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41
Q

What are the TARA boxes?

A

Transfer > high risk, low prob
Avoid > high risk, high prob
Accept > low risk, low prob
Reduce > low risk, high prob

42
Q

What does TARA analyse?

A

Risk v profitability

43
Q

What would you use if you were discussing stakeholders?

A

Mendelow’s Matrix

44
Q

What is included in Mendelow’s matrix?

A

Involve > high power, high interest
Inform > Low power, high interest
Satisfy > high power, low interest
Ignore > Low power, low interest

45
Q

If asked to discuss ethical behaviour, what do you need to mention

A 
Professional competence and due care
Integrity
Professional behaviour
Confidentiality
Objectivity
46
Q

When retaining and winning customers, what are the 6 main risks?

A 
Strategic - failure to fulfil demands
Operational - use of service
Key person - founding people, instability
Competition - less visible
Data - loss or corruption
Reputation - bad publicity
47
Q

When comparing two strategies, how would you lay out your answer?

A

Advantages and Disadvantages

48
Q

What are the recommendations for controls for a leak of data?

A 
Changing passwords
Restricting permissions
Regular reminders to reduce complacency
Anti hacking software and anti virus
Do not copy onto memory sticks
Keep a log of visitors/staff 
Failed attempts to log on
49
Q

What would you do if there has been a threat to reveal confidential information?

A

Alert the authorities
Do not pay sum demanded as unethical
Notify client (risk is larger if you do not)
See if the breach was from you or client

50
Q

When asked to evaluate an investment appraisal, what do you look at for sales?

A

Breakdown of products/services

Justification of increase over time e.g. competitive market?

51
Q

When asked to evaluate an investment appraisal, what do you look at for contribution?

A

Different services = different contribution

Detail about variable costs

52
Q

When asked to evaluate an investment appraisal, what do you look at for other costs?

A

When does marketing begin?
Justification as to why it is unchanged
Breakdown

53
Q

When asked to evaluate an investment appraisal, what do you look at for tax and working capital?

A

Current tax rate is a reasonable assumption if not expected to change
Investment would require working capital

54
Q

When asked to evaluate an investment appraisal, what do you look at for investment?

A

Single immediate figure at beginning will not be realistic

Realisable value with justification (no cashflows after)

55
Q

When asked to evaluate an investment appraisal, what do you look at for discount rate?

A

The WACC should be used if business and financial risk remain at the same levels.
Project specific WACC used

56
Q

When asked to evaluate an investment appraisal, what do you look at for payback period?

A 
Certainty with figures used
Calculated correctly (no TV of money)
57
Q

When asked to evaluate an investment appraisal, what do you look at for sensitivity analysis?

A

Amount by which figures need to change for the investment to make a loss
Treats individual figures as independent
Scenario analysis could be more valuable`

58
Q

When asked about e-marketing and attracting new clients, what will you discuss? (3 types)

A

Reaching potential clients - search engine positioning
Interesting potential clients - social media, USP
Gaining potential clients - personalisation

59
Q

When asked about e-marketing and retaining clients, what will you discuss?

A 
Personalised communication 
Website - registration
Newsgroups, blogs
Extranets - loyalty
Responding to client queries
60
Q

What are the CEO’s responsibilities for a transformation process?

A

Lead
Promote approach
Convince board and staff
Clear and detailed presentation to other directors

61
Q

How would a CEO transform the business (preparing)?

A

Preparing

  • Explain what is driving transformation
  • Adoption of approach
  • Create motivation
  • Introduction for culture and practicality
  • Organisation structural changes/ job changes
  • Changes in rewards
  • Training staff
  • Change to information systems
62
Q

How would a CEO transform the business (implementing)?

A

Implementing

  • Consultive process through meetings and rewards
  • Significant involvement by staff
  • Get used to working with different people
  • Creating new routines
  • Behaving in new ways and setting standards
  • Reinforced by changing mission, objectives
63
Q

How would a CEO transform the business (communication)?

A

Communication

  • Clear and open
  • Full explanations
  • Releasing news early (promote confidence)
64
Q

For a transformation, when explaining the benefits for the company, what would you say?

A

Generate more revenue
Close relationships, less appealing to change suppliers
Developing services, learn from customers

65
Q

For a transformation, when explaining the benefits for the staff, what would you say?

A

Providing with training to develop knowledge
Developing capabilities
Rewards

66
Q

For a transformation, when explaining how the work will change, what would you say?

A 
Structural changes
Different teams
More communication 
Making clients centre
Proactive
67
Q

When asked to discuss the board composition and information flow for a transformation, what would you say? (3 new roles)

A

Need for an operations director
Need for a marketing director
Need for a HR director

68
Q

When asked to discuss the board composition and information flow for a transformation, what would you say for NEDs?

A

Consider knowledge and experience in sector and fit with strategy

69
Q

When asked to discuss the board composition and information flow for a transformation, what would you say for information flow? (5 things)

A
  • Sufficient timely information
  • Findings summarised to Board
  • Obtain and discuss relationships with clients and feedback should be sought
  • Board informed immediately if any issues
  • KPIs
70
Q

When you are asked for evaluating a potential acquisition what do you use?

A

SAF

71
Q

When you make a case for setting up an internal audit function, what do you say?

A

Performing audit and other review of each store
Recommend improvements to systems
Monitor risks - complexity

72
Q

What is the meaning of big data?

A

Extremely large data sets which may be analysed to reveal patterns, trends, and associations relating to human behaviour.
Characterised by 3Vs:–Volume–Variety–Velocity
Structured (transactional) data
Unstructured data
Nature means traditional methods of storing and processing data will not work

73
Q

When evaluating the potential application of e-procurement, what would you say?

A

Manage stock reorder levels
Faster communication of low inventory levels
Fewer stock outs
Analyse sales trends to predict demand
Real time link with central warehouse
Use of electronic data interchange with suppliers
Easier facilitation of competitive on line bidding
Data security challenges

74
Q

What is e-procurement?

A

e-Procurement is concerned with improving the performance of the following - sourcing items at the right price, delivered at the right time, to the right quality, in the right quantity and from the right source.

75
Q

When comparing debt vs equity (VC), what would you say?

A 
Debt
   - Fixed interest
   - Tax deductible
   - Gearing is low already
Shares
   - Avoids risk of debt
   - VC would expect to be in mgmt
   - Conflict

Ratio calculations

76
Q

When asked to discuss the advantages and disadvantages of staying on as Chairman after a new CEO has been appointed, what would you say?

A
  • Experience and knowledge
  • Good relationships with shareholders
  • Better scrutiny of executive directors
  • Lack of independence
  • Resentment
  • Confusion over role
77
Q

When asked to discuss the qualities which a new chief executive should possess?

A 
Ability to work under pressure
Ability to admit when errors have been made
Interpersonal skills
Intellectual breadth
Industry experience
Transformational skills
78
Q

When asked why a strategy to open new shops is good, what would you say?

A

Market penetration
Refurbishment - increase customer purchases
Investment in staff training
Closing shops - improved image

79
Q

When asked why a strategy to have a website is good for new products/market, what would you say?

A 
New products should be demanded
Should not affect current range or image
Wider range of customers (infrastructure?)
Sales channel needs to be monitored
Overseas customers
80
Q

When asked why a strategy to have increase sales to retail partners is good for new products/market, what would you say?

A

Consolidate with current retail partners
Penetrate market
Diversify into luxury products?

81
Q

What does performance excellence result in?

A
  1. Delivery of increasing value
  2. Improvement of operational effectiveness
  3. Organisational and personal learning
82
Q

What headings do you use for the Baldridge model?

A
  1. Leadership
  2. Strategy
  3. Customers
  4. Measurement, analysis and knowledge management
  5. Workforce
  6. Operations
  7. Results
83
Q

With the Baldridge model, what does leadership mean?

A

Senior leader’s responsibilities, successful now and in the future
Communicating and setting values

84
Q

With the Baldridge model, what does strategy mean?

A

Develop strategic objectives and action plans, implement them, change them and measure progress

85
Q

With the Baldridge model, what does customers mean?

A

How we engage customers for long term success and stresses customer engagement

86
Q

With the Baldridge model, what does measurement, analysis and knowledge mean?

A

Effectively, measuring, analysing and improving performance and managing organisational knowledge to drive innovation, improvement and organisational competitiveness

87
Q

With the Baldridge model, what does workforce mean?

A

Key workforce practices

88
Q

With the Baldridge model, what does operations mean?

A

Product design, innovation and operational effectiveness and investment in e-commerce

89
Q

With the Baldridge model, what does results mean?

A

All results necessary to sustain our organisation

90
Q

What do factor conditions include in Porter’s Diamond?

A

Physical resources
Human resources
Knowledge
Infrastructure

91
Q

What do demand conditions include in Porter’s Diamond?

A

Home market demand and home based customers

92
Q

What do related and supporting industries include in Porter’s Diamond?

A

Influenced by other industries/organisations that supply it

93
Q

What does Strategy, Structure and Rivalry include in Porter’s Diamond?

A

Created, organised, managed

94
Q

What does Government support include in Porter’s Diamond?

A

Supportive of the industry?

95
Q

What are the aims of integrated reporting in effective communication?

A

Improve the quality of information

Different communication strands and methodologies

96
Q

What is the role of integrated reporting?

A

Benefit all stakeholders - how we create value
Communicating broader and more relevant information
Good for decision making
Broader than pure financial data

97
Q

What are the benefits of integrated reporting?

A

Improved relationship
Greater insight into business model
Greater understanding of use and dependence on resources
Understanding drivers of performance and value
Outperform other companies

98
Q

How does integrated reporting help build a relationship with stakeholders?

A

Overall explanations
Staff - employment stability and future prospects
Local communities - commitment to local economy
Transparency allows to tell a story preventing assumptions
Pivotal role in investment decision process
Economic analysis - understand trends and externalities
Industry analysis - factors driving competitiveness
Company strategy - Management quality and corporate strategy

99
Q

What are the challenges posed by disruptive technologies?

A 
More convenience
Lack of competitive advantage
Flexibility
Wider choice of product offerings
Personalisation
Smartphone technology
100
Q

When there is a risk of lack of focus on information strategies, what are the outcomes and recommendations?

A

Failure
Business opportunities missed
Wasted resources

Employ IT director
Align business strategy

101
Q

When there is a risk of cyber and data security breaches, what are the outcomes and recommendations?

A

Loss of key data
Severe business interruption
Damage to reputation

Invest in latest cyber security
Implement and upgrade information systems

102
Q

When there is a risk of business continuity threat, what are the outcomes and recommendations?

A

Unable to operate effectively
Loss of business
Cease to operate

Disaster recovery plan
Strategic level focus

SBL (16 decks)

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