Strategy and Implementation Flashcards Preview

A-Level Business > Strategy and Implementation > Flashcards

Flashcards in Strategy and Implementation Deck (18)
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1
Q

Corporate plan

A

A plan containing details of a business’s objectives and how it intends to achieve them.

2
Q

Impact of a corporate plan on stakeholders

A

Potential investors when a share sale is considered
Major lenders to the business
Communication with staff keeps up motivation
Important that employees are aware of direction of business

3
Q

SWOT

A

Strengths
Weaknesses
Opportunities
Threats

4
Q

Strengths and Weaknesses

A

Internal aspects of the business:
What the business is good at
What is holding back the development of the business

5
Q

Opportunities and Threats

A

External aspects of the organisation:
What is happening in the market
What could potentially constrain the business

6
Q

Differentiation

A

Showcases the differences between products.

7
Q

Porter’s Five Forces

A
8
Q

Bargaining power of suppliers

A

Cost of switching to alternative suppliers
Number and size of firms supplying
Competition for the output from other industries

9
Q

Bargaining power of buyers

A

Number of customers
Range of suppliers
Cost of switching to alternative suppliers

10
Q

Ansoff Matrix

A

Aims to increase market share.

11
Q

Horizontal integration

A

When two business in the same industry and stage of production merge.

12
Q

Conglomerate integration

A

When businesses from different industries merge.

13
Q

Vertical backward integration

A

When a business merges with a company in the same industry but they are a supplier.

14
Q

Vertical forward integration

A

When a business merges with a company in the same industry but they are a customer of the business.

15
Q

Internal growth

A

Expansion by means of opening new shops or factories.

16
Q

External growth

A

Expansion by means of integration.

17
Q

Rationalisation

A

Reorgansing production in order to increase productivity and efficiency.

18
Q

Outsourcing

A

The delegation of one or more business processes to an external provider.