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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
For the cultural web, what are stories?
What people tell about the organisation
26
For the cultural web, what are symbols?
Objects, acts of people - visual reps
27
For the cultural web, what is power?
Person or group who hold power
28
For the cultural web, what is the organisational structure?
Power structure
29
For the cultural web, what are control systems?
Measurement and reward systems
30
For the cultural web, what are routines and rituals?
The way we do things
31
For the cultural web, what is the paradigm?
Set of assumptions and collective experience
32
When asked to report on two investments, what do you use?
Suitability Acceptability Feasibility
33
When asked to consider the key factors influencing finance, what could you say? (5)
``` Cash held Cost of borrowing Security Risk Equity finance and control ```
34
When asked about the major project variables, what would you say? (4)
Expenditure Time Quality Issues
35
When explaining the implications for governance with an acquisition/ VC injection, what could you say? (10)
``` Leadership Timeframe Objectives Leadership Style Intro of NEDs Remuneration Relations with shareholders Risk Management and Internal Controls Aligned Risk Appetite More robust risk management ```
36
When asked for the weaknesses of current management accounts, what could you suggest? And 2 recommendations?
Product portfolio profits Overhead breakdowns Cost per person Job category breakdowns Variance reporting More balanced measures
37
What are some KPIs for hotels?
- Occupancy rates - Average daily rate - Revenue per room - Gross operating profit per square metre - Customer satisfaction - Carbon footprint
38
What are the components of integrated reporting?
``` Financial Manufacturing Human Social Intellectual Natural ```
39
What are the key benefits of data analytics?
Consumer behaviour tracking Open communication channels Predictive analytics Analysis of behaviours
40
What are the main opportunities of big data analytics?
``` Unlock value Collect more accurate info Segmentation Decision making improvements Develop next generation ```
41
What are the TARA boxes?
Transfer > high risk, low prob Avoid > high risk, high prob Accept > low risk, low prob Reduce > low risk, high prob
42
What does TARA analyse?
Risk v profitability
43
What would you use if you were discussing stakeholders?
Mendelow's Matrix
44
What is included in Mendelow's matrix?
Involve > high power, high interest Inform > Low power, high interest Satisfy > high power, low interest Ignore > Low power, low interest
45
If asked to discuss ethical behaviour, what do you need to mention
``` Professional competence and due care Integrity Professional behaviour Confidentiality Objectivity ```
46
When retaining and winning customers, what are the 6 main risks?
``` 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
When comparing two strategies, how would you lay out your answer?
Advantages and Disadvantages
48
What are the recommendations for controls for a leak of data?
``` 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
What would you do if there has been a threat to reveal confidential information?
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
When asked to evaluate an investment appraisal, what do you look at for sales?
Breakdown of products/services | Justification of increase over time e.g. competitive market?
51
When asked to evaluate an investment appraisal, what do you look at for contribution?
Different services = different contribution | Detail about variable costs
52
When asked to evaluate an investment appraisal, what do you look at for other costs?
When does marketing begin? Justification as to why it is unchanged Breakdown
53
When asked to evaluate an investment appraisal, what do you look at for tax and working capital?
Current tax rate is a reasonable assumption if not expected to change Investment would require working capital
54
When asked to evaluate an investment appraisal, what do you look at for investment?
Single immediate figure at beginning will not be realistic | Realisable value with justification (no cashflows after)
55
When asked to evaluate an investment appraisal, what do you look at for discount rate?
The WACC should be used if business and financial risk remain at the same levels. Project specific WACC used
56
When asked to evaluate an investment appraisal, what do you look at for payback period?
``` Certainty with figures used Calculated correctly (no TV of money) ```
57
When asked to evaluate an investment appraisal, what do you look at for sensitivity analysis?
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
When asked about e-marketing and attracting new clients, what will you discuss? (3 types)
Reaching potential clients - search engine positioning Interesting potential clients - social media, USP Gaining potential clients - personalisation
59
When asked about e-marketing and retaining clients, what will you discuss?
``` Personalised communication Website - registration Newsgroups, blogs Extranets - loyalty Responding to client queries ```
60
What are the CEO's responsibilities for a transformation process?
Lead Promote approach Convince board and staff Clear and detailed presentation to other directors
61
How would a CEO transform the business (preparing)?
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
How would a CEO transform the business (implementing)?
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
How would a CEO transform the business (communication)?
Communication - Clear and open - Full explanations - Releasing news early (promote confidence)
64
For a transformation, when explaining the benefits for the company, what would you say?
Generate more revenue Close relationships, less appealing to change suppliers Developing services, learn from customers
65
For a transformation, when explaining the benefits for the staff, what would you say?
Providing with training to develop knowledge Developing capabilities Rewards
66
For a transformation, when explaining how the work will change, what would you say?
``` Structural changes Different teams More communication Making clients centre Proactive ```
67
When asked to discuss the board composition and information flow for a transformation, what would you say? (3 new roles)
Need for an operations director Need for a marketing director Need for a HR director
68
When asked to discuss the board composition and information flow for a transformation, what would you say for NEDs?
Consider knowledge and experience in sector and fit with strategy
69
When asked to discuss the board composition and information flow for a transformation, what would you say for information flow? (5 things)
- 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
When you are asked for evaluating a potential acquisition what do you use?
SAF
71
When you make a case for setting up an internal audit function, what do you say?
Performing audit and other review of each store Recommend improvements to systems Monitor risks - complexity
72
What is the meaning of big data?
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
When evaluating the potential application of e-procurement, what would you say?
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
What is e-procurement?
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
When comparing debt vs equity (VC), what would you say?
``` 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
When asked to discuss the advantages and disadvantages of staying on as Chairman after a new CEO has been appointed, what would you say?
- Experience and knowledge - Good relationships with shareholders - Better scrutiny of executive directors - Lack of independence - Resentment - Confusion over role
77
When asked to discuss the qualities which a new chief executive should possess?
``` Ability to work under pressure Ability to admit when errors have been made Interpersonal skills Intellectual breadth Industry experience Transformational skills ```
78
When asked why a strategy to open new shops is good, what would you say?
Market penetration Refurbishment - increase customer purchases Investment in staff training Closing shops - improved image
79
When asked why a strategy to have a website is good for new products/market, what would you say?
``` 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
When asked why a strategy to have increase sales to retail partners is good for new products/market, what would you say?
Consolidate with current retail partners Penetrate market Diversify into luxury products?
81
What does performance excellence result in?
1. Delivery of increasing value 2. Improvement of operational effectiveness 3. Organisational and personal learning
82
What headings do you use for the Baldridge model?
1. Leadership 2. Strategy 3. Customers 4. Measurement, analysis and knowledge management 5. Workforce 6. Operations 7. Results
83
With the Baldridge model, what does leadership mean?
Senior leader's responsibilities, successful now and in the future Communicating and setting values
84
With the Baldridge model, what does strategy mean?
Develop strategic objectives and action plans, implement them, change them and measure progress
85
With the Baldridge model, what does customers mean?
How we engage customers for long term success and stresses customer engagement
86
With the Baldridge model, what does measurement, analysis and knowledge mean?
Effectively, measuring, analysing and improving performance and managing organisational knowledge to drive innovation, improvement and organisational competitiveness
87
With the Baldridge model, what does workforce mean?
Key workforce practices
88
With the Baldridge model, what does operations mean?
Product design, innovation and operational effectiveness and investment in e-commerce
89
With the Baldridge model, what does results mean?
All results necessary to sustain our organisation
90
What do factor conditions include in Porter's Diamond?
Physical resources Human resources Knowledge Infrastructure
91
What do demand conditions include in Porter's Diamond?
Home market demand and home based customers
92
What do related and supporting industries include in Porter's Diamond?
Influenced by other industries/organisations that supply it
93
What does Strategy, Structure and Rivalry include in Porter's Diamond?
Created, organised, managed
94
What does Government support include in Porter's Diamond?
Supportive of the industry?
95
What are the aims of integrated reporting in effective communication?
Improve the quality of information | Different communication strands and methodologies
96
What is the role of integrated reporting?
Benefit all stakeholders - how we create value Communicating broader and more relevant information Good for decision making Broader than pure financial data
97
What are the benefits of integrated reporting?
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
How does integrated reporting help build a relationship with stakeholders?
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
What are the challenges posed by disruptive technologies?
``` More convenience Lack of competitive advantage Flexibility Wider choice of product offerings Personalisation Smartphone technology ```
100
When there is a risk of lack of focus on information strategies, what are the outcomes and recommendations?
Failure Business opportunities missed Wasted resources Employ IT director Align business strategy
101
When there is a risk of cyber and data security breaches, what are the outcomes and recommendations?
Loss of key data Severe business interruption Damage to reputation Invest in latest cyber security Implement and upgrade information systems
102
When there is a risk of business continuity threat, what are the outcomes and recommendations?
Unable to operate effectively Loss of business Cease to operate Disaster recovery plan Strategic level focus

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