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business revision - Coggle Diagram
business revision
Bartlett and ghoshal
strategic options for businesses wanting to manage their international operations based on two pressures: local responsiveness & global integration.
international (low CP, low LR)
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multi domestic (low CP, high LR)
transnational (high CP, high LR)
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innovation
benefit
adds value, premium pricing, competitive advantage, first mover and first adopters, increase market share
challenges
high R&D costs, must match consumer needs, may fail
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process
improving process/production line, improving efficiency
self service checkout, lean production, cashless shops, e-commerce
ansoff
product development (NP, EM)
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market development (EP, NM)
market penetration (EP, EM)
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joint ventures
separate business entity created by two or more parties, involving shared ownership, returns and risks.
+share expertise nd resources, reduces risk, synergy
- culture clash, leadership/objectives
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economic factors
monetary policy
use of interest rates and changes to the money supply to achieve relevant economic objectives. controlled by Bank of England
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fiscal policy
the use of government expenditure and taxation to influence demand. Changes in government expenditure and taxation can increase or decrease demand which businesses may need to respond to.
sampling
random
selecting individuals from a group randomly, giving everyone an equal chance of being chose
stratified
method of sampling that involves the division of a population into smaller subgroups known as strata.
quota
identifying demographic subgroups, then selecting a predetermined number of subjects from each group
globalisation
emerging economies
BRIC- Brazil, russia, india, china
MINT- Mexico, indonesia, nigeria, turkey
becoming a developed nation often driven by relatively high economic growth and a rapid expansion of trade and investment flows.
process of deeper integration between countries and regions of the world involving:Greater trade across borders in goods and services, Greater use of outsourcing and offshoring of production, High levels of labour migration both within and between countries
internationalisation
the process of tailoring a product, service or operational offering for entry and growth into international markets
franchising
franchisor grants a licence (franchise) to another business (franchisee) to allow it trade using the brand / business format.
franchisor
+quick geographical growth, little effort, gain profits
- lose control, may damage rep
franchisee
- support from franchisor, already dev brand awareness, high chance of success
-expensive to buy franchise, pay % of revenue, little control
offshoring
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- reduce labour and material costs, overcome tariffs,
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ecommerce
data mining: the process of searching and analyzing a large batch of raw data in order to identify patterns and extract useful information. Companies use data mining software to learn more about their customers. It can help them to develop more effective marketing strategies, increase sales, and decrease costs.
big data: large and diverse datasets that are huge in volume and also rapidly grow in size over time. Big data is used in machine learning, predictive modeling, and other advanced analytics to solve business problems and make informed decisions.
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growth
organic
internal- Increasing existing production capacity through investment in new capital & technology, Development & launch of new products and finding new markets
external
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- EOS, increase market share, overcome barriers to entry
overall performance
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kaplan and Norton
customer- satisfaction, reviews, returns
internal processes- business efficiency, unit costs, lead time
financial- profit margins, liquidity
organisational capacity (learning and growth)- employee retention, training
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