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1
Q

What does the Ashridge College Model of Mission represent?

A

RSVP: Reason, Strategy, Values, Policies

These elements outline an organization’s existence, approach to achieving its mission, beliefs, and governing policies.

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2
Q

What is the purpose of Corporate Appraisal in a Rational Approach to Strategy?

A

To assess the readiness of the company

This involves evaluating internal capabilities before defining mission and objectives.

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3
Q

What is Gap Analysis?

A

A technique comparing current performance with desired future state

It helps identify discrepancies that need to be addressed.

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4
Q

What are SMART Objectives?

A
  • Specific
  • Measurable
  • Attainable
  • Relevant
  • Time-bound

These criteria help in setting effective goals.

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5
Q

What are the four categories in Mendelow’s Theory of Stakeholders?

A
  • Key Players
  • Keep Informed
  • Keep Satisfied
  • Minimal Effort

These categories help prioritize stakeholder communication strategies.

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6
Q

What does Ohmae’s Five C’s include?

A
  • Customer
  • Company
  • Competitors
  • Collaborators
  • Currency

These elements analyze the macro environment affecting business strategy.

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7
Q

What are the components of PESTEL analysis?

A
  • Political
  • Economic
  • Social
  • Technological
  • Environmental
  • Legal

This framework assesses external factors impacting a business.

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8
Q

What are the four conditions in Porter’s Diamond model?

A
  • Factor Conditions
  • Demand Conditions
  • Related & Supporting Industries
  • Firm Strategy, Structure & Rivalry

These elements explain competitive advantage in nations.

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9
Q

What are the five forces in Porter’s Five Forces model?

A
  • Threat of New Entrants
  • Bargaining Power of Suppliers
  • Bargaining Power of Buyers
  • Threat of Substitute Products/Services
  • Competitive Rivalry Among Existing Firms

This model analyzes industry competitiveness.

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10
Q

What are the stages in the Business Lifecycle?

A
  • Introduction
  • Growth
  • Shakeout
  • Maturity
  • Decline

Each stage has distinct characteristics and strategic focuses.

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11
Q

What are Critical Success Factors?

A
  • Threshold Resources
  • Unique Resources
  • Threshold Competencies
  • Core Competencies

These are essential for achieving business objectives.

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12
Q

What is the BCG Matrix?

A
  • Stars
  • Cash Cows
  • Question Marks
  • Dogs

This matrix categorizes business units based on market growth and share.

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13
Q

What is Gap Closure Strategy?

A

Strategies to close performance gaps may include improving processes, acquiring resources, or developing innovations

It aims to bridge discrepancies identified in gap analysis.

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14
Q

What are the four strategies in the Ansoff Matrix?

A
  • Market Penetration
  • Market Development
  • Product Development
  • Diversification

These strategies guide growth options for businesses.

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15
Q

What are the types of Diversification?

A
  • Vertical Diversification
  • Horizontal Diversification
  • Unrelated (Conglomerate) Diversification

Each type offers different strategic benefits.

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16
Q

What are the three components of Johnson, Scholes, and Whittington’s strategy evaluation framework?

A
  • Suitability
  • Feasibility
  • Acceptability

These criteria help assess proposed strategies against organizational goals.

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17
Q

What characterizes an Entrepreneurial Structure?

A

Centralised decision-making and direct oversight by the owner or founder

Common in small, agile businesses.

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18
Q

What is Outsourcing?

A

Contracting out specific business functions to external providers

This can lead to cost savings but may also create risks.

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19
Q

What are the four elements of the Four V’s in operations management?

A
  • Volume
  • Variety
  • Variation
  • Visibility

These elements impact process design and resource allocation.

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20
Q

What is the Purchasing Mix?

A
  • Quality
  • Quantity
  • Delivery
  • Price
  • Supplier Relations

These factors influence purchasing decisions in a business context.

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21
Q

What are the methods of expansion according to Lynch?

A
  • Organic Growth
  • M&A
  • Strategic Alliances
  • Franchising
  • Joint Ventures

These methods outline how businesses can grow and expand.

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22
Q

What is the strategy of using two or more suppliers simultaneously for the same product or service called?

A

Parallel

This strategy helps reduce risk and increase competition.

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23
Q

What are the Four P’s of marketing?

A
  • Product
  • Price
  • Place
  • Promotion
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24
Q

Define ‘Product’ in the context of the Four P’s.

A

Goods or services offered to customers, including features, quality, and branding.

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25
What does 'Price' represent in the marketing mix?
The amount customers pay for the product or service, determined by cost, competition, and perceived value.
26
What is meant by 'Place' in the marketing mix?
The distribution channels and locations where the product or service is made available to customers.
27
What encompasses 'Promotion' in marketing?
Communication strategies used to inform and persuade customers, including advertising and public relations.
28
What are the Three P's of marketing?
* People * Process * Physical
29
Define 'People' in the context of the Three P's.
Individuals involved in delivering the service, including their skills, attitudes, and customer interactions.
30
What does 'Process' refer to in the Three P's?
Procedures and mechanisms used to deliver the service, ensuring consistency and efficiency.
31
What does 'Physical' represent in the Three P's of marketing?
Tangible elements that support the service, such as the environment, branding, and documentation.
32
What is the 'Johnson, Scholes, and Whittington Scope Model'?
* Tuning * Planned * Adaptation * Forced
33
Define 'Tuning' in the Scope Model.
Incremental changes to existing strategies, focusing on improving current operations.
34
What is 'Planned' change in the Scope Model?
Consciously and proactively altering the scope of an organization's activities through strategic planning.
35
What does 'Adaptation' refer to in the Scope Model?
Reacting to environmental changes by making adjustments to the scope of the organization's activities.
36
Define 'Forced' change in the Scope Model.
Changes to the scope of a company made due to external pressures beyond the company's control.
37
What are the stages in Lewin / Schein's 3-Stage Model?
* Unfreezing * Change (or Moving) * Refreezing
38
What is the focus of the 'Unfreezing' stage?
Preparing the organization for change by dismantling the existing status quo.
39
What happens in the 'Change' (or Moving) stage?
Implementing actual changes where the organization transitions to a new way of operating.
40
What is the purpose of the 'Refreezing' stage?
Solidifying the changes to ensure they become a permanent part of the organization's culture.
41
What does the Gemini 4Rs Framework stand for?
* Respect * Responsibility * Reliability * Reasoning
42
Define 'Respect' in the Gemini 4Rs Framework.
Prioritizing user privacy, consent, and cultural sensitivity in AI interactions.
43
What is meant by 'Responsibility' in the 4Rs Framework?
Ensuring AI systems are accountable, transparent, and mitigate potential harms like bias and misinformation.
44
What does 'Reliability' refer to in the 4Rs Framework?
Building robust and dependable AI systems that perform consistently and predictably.
45
What is the importance of 'Reasoning' in AI systems?
Providing clear and understandable explanations for their decisions and actions.
46
What are the components of Lewin's Force Field Analysis?
* Driving Forces * Restraining Forces
47
What are 'Driving Forces' in Lewin's Force Field Analysis?
Factors that push an organization towards change, such as new market opportunities.
48
Define 'Restraining Forces' in Lewin's Force Field Analysis.
Factors that hinder or resist change, such as employee resistance or lack of resources.
49
What are Critical Success Factors (CSFs)?
Essential areas where an organization must excel to achieve its strategic objectives.
50
What are Key Performance Indicators (KPIs)?
Measurable values demonstrating how effectively an organization is achieving key business objectives.
51
What do the Three E's stand for in performance measurement?
* Economy * Efficiency * Effectiveness
52
Define 'Economy' in the context of performance measurement.
Minimizing the cost of resources used for an activity.
53
What does 'Efficiency' measure?
The relationship between inputs and outputs, maximizing output for a given input.
54
Define 'Effectiveness' in performance measurement.
Assessing the degree to which objectives are achieved.
55
What are the common financial measures of growth?
* Revenue growth * Market share growth * Asset growth
56
What metrics evaluate an organization's profitability?
* Gross profit margin * Net profit margin * Return on equity (ROE) * Return on assets (ROA)
57
What does liquidity measure?
An organization's ability to meet its short-term obligations.
58
What is gearing (or leverage) in financial terms?
The extent to which a company's operations are funded by debt rather than equity.
59
Define Return on Capital Employed (ROCE).
Measures a company's profitability in relation to the capital it employs.
60
What is the formula for ROCE?
Capital Employed = Total Assets - Current Liabilities + Long-Term Debt.
61
What are the positives of using ROCE?
* Provides a clear picture of capital usage * Useful for comparing profitability across companies * Assesses long-term profitability and efficiency
62
What are the negatives of ROCE?
* Can be distorted by accounting policies * May not reflect future profitability * Difficult to compare across different business models
63
Define Residual Income (RI).
Measures the income remaining after deducting a capital charge, representing value created above the cost of capital.
64
What are the positives of using RI?
* Encourages focus on value-creating projects * Aligns decisions with shareholder value * Easier to understand in monetary terms
65
What are the negatives of RI?
* Sensitive to chosen cost of capital * Difficult to compare across different-sized businesses * Affected by short-term fluctuations in profit
66
What is downside risk?
Potential for loss or negative outcomes, where the only possible result is harm or no change.
67
Define upside risk.
Potential for gain or positive outcomes, where there's a chance of both profit and loss.
68
What is the process of risk management?
Identifying, assessing, and controlling potential threats to an organization's capital and earnings.
69
What are the categories of risk?
* Strategic Risk * Operational Risk * Hazard Risk * Financial Risk * Compliance Risk
70
Define 'Controllable risks'.
Risks that an organization can directly influence.
71
What are 'Uncontrollable risks'?
External factors beyond an organization's direct control.
72
What does the TARA Model stand for?
* Transfer * Avoid * Reduce * Accept
73
What does 'Transfer' mean in the TARA Model?
Shifting the risk to a third party, often through insurance.
74
What does 'Avoid' entail in the TARA Model?
Eliminating the risk by choosing not to engage in the activity that creates it.
75
What does 'Reduce' focus on in the TARA Model?
Mitigating the likelihood or impact of the risk through controls.
76
Define 'Accept' in the context of the TARA Model.
Acknowledging the risk and choosing to bear the potential consequences.
77
What is sensitivity analysis?
A method to assess how different values of an independent variable impact a particular dependent variable.
78
What is the formula for breakeven output?
BE = Total FC / Contribution per Unit
79
Define 'Probability'.
A numerical measure of the likelihood that an event will occur.
80
What are mutually exclusive outcomes?
Events that cannot occur simultaneously.
81
What does 'Independent events' mean?
Events where the occurrence of one does not affect the probability of the other.
82
Define 'Dependent events'.
Events where the occurrence of one event influences the probability of the other.
83
What is Price Elasticity of Demand (PED)?
Measures the responsiveness of the quantity demanded to a change in price.
84
What is the formula for PED?
% change in demand / % change in price
85
What are the advantages of calculating PED?
* Provides insight for setting prices * Predicts the impact of price changes on revenue
86
What are the disadvantages of PED?
* Difficult to calculate accurately * Relies on assumptions about consumer behavior
87
What is the purpose of trend analysis?
To predict future trends and support strategic decision-making.
88
What is the method for trend analysis?
Collect data over multiple time periods and identify general movements.
89
Define 'Mean' in statistical tools.
The average of a data set.
90
What does 'SD' stand for in statistical analysis?
Standard Deviation.
91
What does 'Skewness' describe?
Asymmetry in a data set that deviates from a normal distribution.
92
What is Selection Bias?
Non-random selection leading to an unrepresentative sample.
93
Define Self-Selection Bias.
Individuals voluntarily participating, skewing the sample.
94
What is Observer Bias?
Researcher's assumptions influencing observations.
95
What does Cognitive Bias refer to?
Bias in data presentation or interpretation.
96
Define Confirmation Bias.
Favoring data that confirms pre-existing beliefs.
97
What is Survivorship Bias?
Sample consisting of data that has survived a prior event.
98
What are Doug Laney's 4Vs?
* Volume * Velocity * Variety * Veracity
99
Define 'Volume' in the context of data.
The sheer amount of data being generated.
100
What does 'Velocity' refer to?
The speed at which data is generated and processed.
101
What does 'Variety' encompass?
The different forms and sources of data.
102
Define 'Veracity' in data analysis.
The accuracy and trustworthiness of the data.
103
What is a Defensive approach to corporate responsibility?
Taking action primarily to avoid negative consequences.
104
Define Cost-Benefit approach in corporate responsibility.
Engaging in activities when there's a clear business case, balancing costs and benefits.
105
What is a Strategic approach to corporate responsibility?
Integrating corporate responsibility into core business strategies.
106
What does an Innovative approach to corporate responsibility involve?
Seeking new ways to address social and environmental challenges.

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