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Segundo Parcial Flashcards

(50 cards)

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1
Q

Simple yet very useful decision-making tool. It is the acronym for strengths, weaknesses, opportunities and threats

A

SWOT analysis

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2
Q

Internal factors that are favorable compared to competitors.
Examples: strong brand loyalty, good image, highly skilled workers

A

Strengths

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3
Q

Internal factors that are unfavorable when compared with rivals. They create competitive disadvantages

A

Weaknesses

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4
Q

External possibilities (prospects) for future development. Changes in the external environment that create favorable conditions for a business

A

Opportunities

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5
Q

External factors that hinder the prospects for an organization. They cause problems for the business

A

Threats

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6
Q

Analytical tool that helps managers to choose and devise various product and market growth strategies

A

Ansoff matrix

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7
Q

Low-risk growth strategy as businesses choose to focus on selling EXISTING PRODUCTS IN EXISTING MARKETS to increase their market share of current products

A

Market penetration

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8
Q

Medium-risk growth strategy that involves selling NEW PRODUCTS IN EXISTING MARKETS.

A

Product development

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9
Q

Medium risk growth strategy that involves selling EXISTING PRODUCTS IN NEW MARKETS. An established product is marketed to a new set of customers.

A

Market development

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10
Q

High-risk growth strategy that involves selling NEW PRODUCTS IN NEW MARKETS.

A

Diversification

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11
Q

Occurs when a business caters for new customers within the broader confines of the same industry. A business acquires new products of the same type than previous ones.

A

Related diversification

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12
Q

Refers to growth by selling completely new products in untapped markets

A

Unrelated diversification

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13
Q

Any person or organization with a direct interest in, and is affected by, the activities and performances of a business

A

Stakeholder

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14
Q

Members of the organization that are present in it. Including employees, managers, directors and shareholders of the organization

A

Internal stakeholder

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15
Q

People who oversee the daily operations of a business.

A

Managers

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16
Q

Senior executives who have been elected by the company’s shareholders to direct business operations on behalf of their owners.

A

Directors

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17
Q

Stakeholder group that invests money in a company by purchasing its shares

A

Shareholders (stockholders)

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18
Q

They don’t form part of the business but have a direct interest or involvement in the organization. For example: customers, suppliers, pressure groups, competitors and the government

A

External stakeholders

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19
Q

Provide a business with stocks of raw materials, component parts and finished goods needed for production.

A

Suppliers

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20
Q

Individuals with a common interest who seek to place demands on organizations to act in a particular way or to influence a change in their behavior.

A

Pressure groups

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21
Q

Rival businesses of an organization

22
Q

Model that assesses the relative interest of stakeholders and their relative power (or influence) on businesses

Study These Flashcards
A

Stakeholder mapping

23
Q

Acronym for the social, technological, economic, environmental, political, legal and ethical opportunities and threats of the external business environment.

24
Q

External factors that present chances for business

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A

Opportunities

25
External factors that can harm a business
Threats
26
Social, cultural and demographic factors that affect directly the activities of a business. Values and attitudes of society towards certain issues (ethics, women, religion, rights, etc.)
Social opportunities and threats
27
Advances in technology and work processes that improve productivity. Also, the high cost of staying up to date with technological process might cause problems to businesses.
Technological opportunities and threats
28
Refers to the state of economy in which business operate
Economic environment
29
Is the continual rise in the general level of prices in an economy
Inflation
30
Measures the proportion of a country's workforce not in official employment.
Unemployment rate
31
Increase in a country's economic activity over time. Measured by the GDP.
Economic growth
32
Pattern of fluctuations in economic growth
Business cycle
33
Level of economic activity rises with consumer expenditure, investment and export earnings all increasing. Economic activity is at its peak.
Boom
34
Occurs when there is a fall in GDP for two consecutive quarters (half a year). Lower investment, falling export sales and rising unemployment
Recession
35
Refers to the bottom of a recession and the last stage of decline in the business cycle, with high unemployment and very low consumer spending, investment and export earnings.
Trough (or slump)
36
Occurs when the level of GDP starts to rise again, after the economy has experienced a slump
Recovery
37
Measures the value of the domestic currency in terms of foreign currencies
Exchange rate
38
Refers to any government policy used to safeguard domestic businesses from foreign competitors
Protectionist measures
39
Is the use of taxation and government expenditure policies to influence business activity
Fiscal policy
40
Taxation and interest rate policies are...
Political opportunities and threats
41
Used when the economy experiences high rates of economic growths and inflation
Deflationary fiscal policy
42
Used to boost business activity, perhaps to get the economy out of a recession
Expansionary fiscal policy
43
Use of interest rate policy to affect the money supply and exchange rates in order to influence businesses activity.
Monetary policy
44
To provide opportunities for businesses to prosper
Deregulation
45
Rules, regulations and laws imposed by the government are...
Legal opportunities and threats
46
Laws exist that make it illegal for businesses to provide false or misleading descriptions of their products and services
Consumer protection legislation
47
These laws protect the interests and safety of workers
Employee protection legislation
48
Laws ensure that anticompetitive practices are prohibited to protect customers and smaller businesses from firms with monopoly power
Competition legislation
49
Laws exist to prevent or reduce the consumption of demerit goods (tobacco, petrol, alcohol, drugs).
Social and environmental protection legislation
50
Moral principles that are, or should be, considered in business decision-making
Business ethics

Empresa (7 decks)

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