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Models and Theorists Flashcards

1
Q

What does Ansoff’s matrix do?

A

consider opportunities and potential market developments by looking at new and existing markets and products.

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2
Q

What are the axis of Ansoff’s matrix ?

A

products and markets

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3
Q

Ansoff’s matrix: Existing Product + Existing Market =

A

Market penetration

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4
Q

Existing Product + New Market =

A

Market development

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5
Q

New Product + Existing Market =

A

Product development

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6
Q

What are porters five forces

A

bargaining power of suppliers
threat of substitutes
bargaining power of buyers
threat of new entrants
industry rivalry

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7
Q

when are porters five forces used?

A

to determine the strength or weakness of a firm’s competitive position and the degree of rivalry between companies

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8
Q

What is the Blake Mouton grid used for

A

To show different managerial styles

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9
Q

what does Blake Mouton consist of

A

Country club
Team leader
impoverished
produce or perish
middle of the road

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10
Q

What is bowman’s clock used for

A

to outline different strategies in terms of the perceived added value and price

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11
Q

Which numbers are deemed uncompetitive on Bowman’s clock?

A

6,7,8 as they are high price and low differentiation

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12
Q

Bowman’s clock - 3

A

Hybrid, low cost with high perceived added value

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13
Q

Bowman’s clock - 4/5

A

differentiation and focused differentiation

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14
Q

what does Hackman and Oldham’s model do?

A

shows five aspects of a job design that can influence how motivating it is and highlights the importance of job design on individuals on their performance

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15
Q

Hackman and Oldham - five elements of job charactheristics

A

Skill variety
Task identity
Task significance
Autonomy
Feedback

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16
Q

Hackman and Oldham - outcome of feedback

A

high satisfaction with work - felt listened too

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17
Q

Hackman and Oldham - outcome of Autonomy

A

High quality of work

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18
Q

Hackman and Oldham - outcome of Skill variety

A

High internal motivation

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19
Q

What are Herzberg’s two factors?

A

Hygiene and motivating factors

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20
Q

Examples of Herzberg’s hygiene factors:

A

salary
job security
safe working conditions
company policies
relationship with peers

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20
Q

Examples of Herzberg’s motivating factors:

A

achievement
recognition
advancement opportunities

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20
Q

What is Maslow’s theory of motivation

A

Hierarchy of needs

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20
Q

What are Maslow’s five hierarchy of needs? (top down)

A

self-actualisation
esteem
belonging
safety
physiological

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21
Q

What was Herzberg’s principle with his two factor theory?

A

Improving motivating factors increases job satisfaction, improving hygiene factors decreases job dissatisfaction

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21
examples of Maslow's physiological needs:
food water warmth rest
21
examples of Maslow's safety needs:
employment security health security property security
22
examples of Maslow's belonging needs:
friendship family connection
23
examples of Maslow's esteem needs:
recognition freedom respect
24
examples of Maslow's self-actualisation needs:
feeling of achieving full potential
25
How are Maslow's needs categorised?
Self-fulfilment Psychological Basic
26
What are Maslow's basic needs?
Physiological and safety
27
What are Maslow's Psychological needs?
belonging and esteem
28
What is Maslow's self-fulfilment need?
self-actualisation
29
Who is Taylor and what is his management style?
money man - scientific management
30
How did Taylor motivate his staff
piece-rate pay standardisation of work
31
What is the Tannenbaum Schmidt continuum
range of different management styles from boss-centered leadership to subordinate centered leadership
32
Order of leadership styles on the Tannenbaum Schmidt Continuum
Tells Sells Suggests Consults Joins Delegates Abdicates
33
What is the Boston Matrix used for?
to compare market growth with market share
34
What are the four components of the Boston Matrix
question marks Dogs Rising stars Cash Cows
35
What are on the axis of the Boston matrix
Market growth and market share
36
What is Scientific decision making?
stages of a data based approach to decision making
37
Stages in Scientific Decision making
gather data analyse data select implement review set objectives
38
What are decision trees an example of?
Scientific decision making
39
What is stakeholder mapping?
A grid categorising stakeholders in terms of their relative power and interest
40
What are on the axis of a Stakeholder mapping grid
power and interest
41
High stakeholder power and low stakeholder interest =
Keep satisfied
42
High stakeholder power and High stakeholder interest =
manage closely
43
low stakeholder power and high stakeholder interest =
keep informed
44
low stakeholder power and low stakeholder interest =
monitor with minimum effort
45
What is market mapping?
a way to spot gaps in a market for potential new entrants or expansion
46
What are on the axis for market mapping
usually price and quality but can differ!
47
How do you make marketing decisions?
STP
48
what does STP stand for
Segmentation Targeting Positioning
49
What is the marketing mix?
blend of strategies a company uses to drive successful product promotion
50
Name the 7 P's of the marketing mix
Promotion Price Product Place Physical Evidence Process People
51
Difference between place and process in the 7 P's
place - distribution channels, web bases/bricks and mortar process - standardisation, delivery services
52
What is an inventory control chart?
Shows any potential issues relating to inventory such as the re-order level, re-order quantity, usage rate and lead time
53
How do you work out the lead time on an inventory control chart?
time taken from re-order level to re-stock to maximum stock level
54
How do you work out the buffer stock level on an inventory control chart?
its the minimum stock level
55
What is a SWOT analysis
used for strategic planning involving an internal and external audit
56
What does SWOT stand for
strength weaknesses opportunities threats
57
What is Elkington's Triple Bottom Line?
A Venn diagram to show that businesses may have different objectives not just profit
58
What are the elements in Elkington's Triple Bottom Line
Planet People Profit
59
How is Carroll's Corporate Social Responsibility depicted?
a pyramid
60
What are the 4 responsibilities in Carroll's Corporate Social Responsibility Pyramid
Economic Legal Ethical Philanthropic
61
What are the two Porter's theories
Porter's five forces and Porte's generic
62
What do Porter's generic strategies do?
highlights the strategic decisions of managers in terms of the scope of the business’ activities and the positioning within the market.
63
What are the axis on the Porter's generic grid
Competitive advantage and competitive scope
64
65
Porter's generic - Low cost + broad target =
cost leadership
66
Porter's generic - Differentiation + Narrow target
Differentiation focus
67
Porter's generic - Differentiation + Broad target
differentiation
68
Porter's generic - low cost + narrow target
cost focus
69
What did Greiner's model show
challenges that will occur as a business grows with typical crisis points
70
What are Greiner's crisis points/revolutions
Leadership Autonomy Control Red Tape ?
71
What are Greiner's stages of growth/evolutions
Creativity Direction Delegation Coordination Collaboration
72
What are Bartlett and Ghoshal's strategies?
International Multi-domestic Transnational Global
73
What does Bartlett and Ghoshal's model do?
examines the different approaches to managing businesses that operate in several countries
74
What are on the axis for Bartlett and Ghoshal's model?
Cost pressures and pressure for local responsiveness
75
Bartlett and Ghoshal's - Low cost pressure + low pressure for local responsiveness =
International strategy
76
Bartlett and Ghoshal's - Low cost pressure + high pressure for local responsiveness =
Multidomestic strategy
77
Bartlett and Ghoshal's - high cost pressure + high pressure for local responsiveness =
Transnational strategy
78
Bartlett and Ghoshal's - high cost pressure + low pressure for local responsiveness =
Global strategy
79
What is a multi-domestic strategy?
there are considerable variations between market demands and few benefits from globally integrating, resulting in a portfolio of relatively independent companies running themselves and producing for their own markets.
80
What is a global strategy (Bartlett and Ghoshal's)
there are significant economies of scale and there are similarities in terms of market demand, standardised products are sold globally and the full range of business activities will only exist in the home market
81
What is a transnational strategy
there is pressure to meet local needs and also benefits from integrating globally. Staff move around the business globally which helps build shared values and shared knowledge.
82
What is an international strategy (Bartlett and Ghoshal's)
there are similarities between markets and little gains from globally integrating. a business operates abroad but runs from the home country
83
What is Lewin's force field analysis?
there are always forces for and against change
84
What are driving forces?
Positive forces for change
85
What are restraining forces
Obstacles to change
86
What are Kotter and Schlesinger's reasons for resistance to change
Self interest misunderstanding and fear differing views preference for the status quo
87
How do Kotter and Schlesinger's suggest to overcome change
Education Participation Facilitation Negotiation Manipulation Coercion
88
What does Handy's culture show?
4 types of culture: Power, role, task and person
89
What is power culture?
centralised culture which focuses on key decision makers
90
What is task culture?
focus on specific tasks and projects, Individuals are brought in to work on tasks as and when they are required, sharing ideas across functions
91
What is role culture?
more formalised culture with jobs having clear rules and procedures, Individuals know their position within the hierarchy
92
What can role culture lead to?
a silo mentality where departments and individuals do not communicate or share information
93
What are Hofstede's national cultures
Power distance uncertainty avoidance individualism vs collectivism masculinity vs femininity long termism vs short termism
94
What is masculinity vs femininity (Hofstede's)
'masculine' - focusing on assertiveness and money 'feminine' - focusing on concern for others and the quality of relationships
95
What is strategic drift?
when the strategy pursued by a business no longer fits with the environment around it and what may have been appropriate at one point is no longer suitable as conditions have changed.

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