170 terms in Topic3
Business Growth
Cost advantages that arise from growth within a particular business, reducing average unit costs as output expands.
Business Decisions and Strategy
Business Growth
Cost advantages that arise from the growth of the whole industry or cluster of businesses in a region, benefiting all fi
Business Decisions and Strategy
Business Growth
A situation where a business grows too rapidly without sufficient working capital to finance the expansion, leading to c
Business Decisions and Strategy
Business Growth
The ability of a business with a large market share to influence prices, terms of trade, or competitive conditions in it
Business Decisions and Strategy
Business Growth
The extent to which consumers can identify and recall a brand from its name, logo, design, or other distinguishing featu
Business Decisions and Strategy
Business Objectives and Strategy
Buying existing business/company to gain control.
Business Decisions and Strategy
Business Objectives and Strategy
Different strategic approaches to achieve objectives.
Business Decisions and Strategy
Business Objectives and Strategy
Strategic tool showing growth strategies based on product/market combinations.
Business Decisions and Strategy
Business Objectives and Strategy
External factors affecting business: market conditions, competition, regulations, technology, economics, society.
Business Decisions and Strategy
Business Objectives and Strategy
Long-term plan achieving business objectives.
Business Decisions and Strategy
Business Objectives and Strategy
Product with high market share in low-growth market.
Business Decisions and Strategy
Business Objectives and Strategy
Where business stands relative to competitors.
Business Decisions and Strategy
Business Objectives and Strategy
Approach to competing effectively.
Business Decisions and Strategy
Business Objectives and Strategy
Competing by having lowest production costs, enabling low prices.
Business Decisions and Strategy
Business Objectives and Strategy
Critical evaluation; identifying strengths and weaknesses.
Business Decisions and Strategy
Business Objectives and Strategy
General, broad business direction; aspirational statements.
Business Decisions and Strategy
Business Objectives and Strategy
Values, beliefs, behaviors characteristic of organization.
Business Decisions and Strategy
Business Objectives and Strategy
Specific, measurable targets business aims to achieve.
Business Decisions and Strategy
Business Objectives and Strategy
Business responsibility to stakeholders beyond profit maximization.
Business Decisions and Strategy
Business Objectives and Strategy
Overall long-term plan achieving corporate objectives.
Business Decisions and Strategy
Business Objectives and Strategy
Systematic evaluation comparing benefits and costs of decision/project.
Business Decisions and Strategy
Business Objectives and Strategy
Choice between alternatives; selecting one option from options.
Business Decisions and Strategy
Business Objectives and Strategy
Process of choosing between alternatives.
Business Decisions and Strategy
Business Objectives and Strategy
Systematic method assisting decision-making.
Business Decisions and Strategy
Business Objectives and Strategy
Strategy protecting existing position against threats.
Business Decisions and Strategy
Business Objectives and Strategy
Making product/business distinctly different from competitors.
Business Decisions and Strategy
Business Objectives and Strategy
Competing through unique, valued product features.
Business Decisions and Strategy
Business Objectives and Strategy
Where business is heading; long-term path.
Business Decisions and Strategy
Business Objectives and Strategy
Unique organizational strengths difficult for competitors to copy.
Business Decisions and Strategy
Business Objectives and Strategy
Ansoff's Matrix strategy: entering new products and new markets.
Business Decisions and Strategy
Business Objectives and Strategy
Advantages of operating in multiple markets/products.
Business Decisions and Strategy
Business Objectives and Strategy
Organization divided into semi-autonomous divisions by: product, geography, market, customer type.
Business Decisions and Strategy
Business Objectives and Strategy
Product with low market share in low-growth market.
Business Decisions and Strategy
Business Objectives and Strategy
Organization's ability to adapt, change, improve over time.
Business Decisions and Strategy
Business Objectives and Strategy
Profit exceeding cost of capital; true economic profit.
Business Decisions and Strategy
Business Objectives and Strategy
Monitoring external environment for opportunities/threats.
Business Decisions and Strategy
Business Objectives and Strategy
Concept that costs decrease as volume increases (learning effect).
Business Decisions and Strategy
Business Objectives and Strategy
Projection of future financial performance.
Business Decisions and Strategy
Business Objectives and Strategy
Specific financial targets; profitability, growth, returns goals.
Business Decisions and Strategy
Business Objectives and Strategy
Framework analyzing competitive intensity.
Business Decisions and Strategy
Business Objectives and Strategy
Competing by serving specific market segment well.
Business Decisions and Strategy
Business Objectives and Strategy
Vertical integration moving toward customer; acquiring downstream business.
Business Decisions and Strategy
Business Objectives and Strategy
Plan for specific business function (HR, marketing, operations, finance).
Business Decisions and Strategy
Business Objectives and Strategy
Identifying difference between current position and desired position (goal).
Business Decisions and Strategy
Business Objectives and Strategy
Corporate strategy for international/global operations.
Business Decisions and Strategy
Business Objectives and Strategy
Increase in business size measured by: revenue, profit, market share, employee count, asset value.
Business Decisions and Strategy
Business Objectives and Strategy
Direction of growth strategy; how business will expand.
Business Decisions and Strategy
Business Objectives and Strategy
Merging with competitor at same supply chain level.
Business Decisions and Strategy
Business Objectives and Strategy
Job factors that prevent dissatisfaction but don't motivate.
Business Decisions and Strategy
Business Objectives and Strategy
Putting strategy/plan into action; executing decisions.
Business Decisions and Strategy
Business Objectives and Strategy
Growth through acquisition, merger, takeover.
Business Decisions and Strategy
Business Objectives and Strategy
Combining organizations/functions; merger of entities.
Business Decisions and Strategy
Business Objectives and Strategy
Plan developed based on deliberate analysis and decision-making.
Business Decisions and Strategy
Business Objectives and Strategy
Evaluation of organization's internal resources/capabilities.
Business Decisions and Strategy
Business Objectives and Strategy
Sharing information/messages within organization.
Business Decisions and Strategy
Business Objectives and Strategy
Researching market/customers before major business decisions.
Business Decisions and Strategy
Business Objectives and Strategy
Systematic approach capturing, storing, sharing organizational knowledge.
Business Decisions and Strategy
Business Objectives and Strategy
Organization systematically learning from experience, improving capability.
Business Decisions and Strategy
Business Objectives and Strategy
Laws and regulations affecting business operations.
Business Decisions and Strategy
Business Objectives and Strategy
Goals spanning multiple years (typically 3+ years).
Business Decisions and Strategy
Business Objectives and Strategy
Organizational hierarchy showing reporting relationships.
Business Decisions and Strategy
Business Objectives and Strategy
Expanding into different geographic/customer markets.
Business Decisions and Strategy
Business Objectives and Strategy
(Ansoff).
Business Decisions and Strategy
Business Objectives and Strategy
Where business stands in market relative to competitors.
Business Decisions and Strategy
Business Objectives and Strategy
Percentage of total market sales/units held by business.
Business Decisions and Strategy
Business Objectives and Strategy
Combination of two companies into single entity.
Business Decisions and Strategy
Business Objectives and Strategy
Process of discussing with others to reach agreement.
Business Decisions and Strategy
Business Objectives and Strategy
Obligations due >12 months.
Business Decisions and Strategy
Business Objectives and Strategy
Specific, measurable targets to be achieved.
Business Decisions and Strategy
Business Objectives and Strategy
Achieving goals with minimum resources; effectiveness of operations.
Business Decisions and Strategy
Business Objectives and Strategy
Short-term target for daily/weekly operations.
Business Decisions and Strategy
Business Objectives and Strategy
Favorable situation offering potential benefit/growth.
Business Decisions and Strategy
Business Objectives and Strategy
Growth through internal development, not acquisition.
Business Decisions and Strategy
Business Objectives and Strategy
Formal arrangement of positions, reporting relationships, authority.
Business Decisions and Strategy
Business Objectives and Strategy
(already covered - see 3.4).
Business Decisions and Strategy
Business Objectives and Strategy
Market in different country from home base.
Business Decisions and Strategy
Business Objectives and Strategy
Time required to recover initial investment from cash flows.
Business Decisions and Strategy
Business Objectives and Strategy
Measurable metric assessing business/individual performance.
Business Decisions and Strategy
Business Objectives and Strategy
Systematic assessment of business/individual performance.
Business Decisions and Strategy
Business Objectives and Strategy
A framework for scanning everything outside the business that could affect it.
Business Decisions and Strategy
Business Objectives and Strategy
Tangible assets for business operations: buildings, equipment, vehicles, materials, technology.
Business Decisions and Strategy
Business Objectives and Strategy
Formal document outlining how to achieve objectives.
Business Decisions and Strategy
Business Objectives and Strategy
Process of deciding future actions to achieve objectives.
Business Decisions and Strategy
Business Objectives and Strategy
Government systems, policies, stability affecting business.
Business Decisions and Strategy
Business Objectives and Strategy
Five forces that determine how competitive and profitable an industry is.
Business Decisions and Strategy
Business Objectives and Strategy
(Generic Strategies).
Business Decisions and Strategy
Business Objectives and Strategy
Degree to which demand changes with price.
Business Decisions and Strategy
Business Objectives and Strategy
(Ansoff).
Business Decisions and Strategy
Business Objectives and Strategy
Product with low market share in high-growth market.
Business Decisions and Strategy
Business Objectives and Strategy
Strategy reducing business scope/operations; cutting back.
Business Decisions and Strategy
Business Objectives and Strategy
Probability of negative outcome with quantifiable consequences.
Business Decisions and Strategy
Business Objectives and Strategy
Systematic process identifying and evaluating risks.
Business Decisions and Strategy
Business Objectives and Strategy
Systematic approach minimizing negative impact of risks.
Business Decisions and Strategy
Business Objectives and Strategy
Making satisfactory decision rather than optimal.
Business Decisions and Strategy
Business Objectives and Strategy
Developing alternative future scenarios and responses.
Business Decisions and Strategy
Business Objectives and Strategy
Examining how changes in key variables affect outcomes/decisions.
Business Decisions and Strategy
Business Objectives and Strategy
Goal achieving within 1 year; operational/tactical targets.
Business Decisions and Strategy
Business Objectives and Strategy
Comprehensive assessment of current business position.
Business Decisions and Strategy
Business Objectives and Strategy
Maintaining current position; not growing or shrinking.
Business Decisions and Strategy
Business Objectives and Strategy
Individual/group affected by or affecting business.
Business Decisions and Strategy
Business Objectives and Strategy
Disagreement between stakeholders with different interests.
Business Decisions and Strategy
Business Objectives and Strategy
Selecting strategy from alternatives.
Business Decisions and Strategy
Business Objectives and Strategy
Long-term, major-impact decision affecting business direction.
Business Decisions and Strategy
Business Objectives and Strategy
Competitors with similar strategies and target markets.
Business Decisions and Strategy
Business Objectives and Strategy
Long-term direction and aspiration; where business wants to be.
Business Decisions and Strategy
Business Objectives and Strategy
Process of developing, implementing, evaluating strategy.
Business Decisions and Strategy
Business Objectives and Strategy
Long-term (3+ year) goal driving business direction.
Business Decisions and Strategy
Business Objectives and Strategy
Process of developing long-term strategy.
Business Decisions and Strategy
Business Objectives and Strategy
Where business stands strategically relative to objectives and competition.
Business Decisions and Strategy
Business Objectives and Strategy
Business reaction to external changes/opportunities/threats.
Business Decisions and Strategy
Business Objectives and Strategy
(SWOT).
Business Decisions and Strategy
Business Objectives and Strategy
Long-term plan achieving objectives.
Business Decisions and Strategy
Business Objectives and Strategy
(see Strengths - SWOT).
Business Decisions and Strategy
Business Objectives and Strategy
(Porter's Five Forces).
Business Decisions and Strategy
Business Objectives and Strategy
A snapshot of a business's internal strengths and weaknesses, and external opportunities and threats.
Business Decisions and Strategy
Business Objectives and Strategy
Combined effect greater than sum of parts.
Business Decisions and Strategy
Business Objectives and Strategy
Short-term, operational-level decision.
Business Decisions and Strategy
Business Objectives and Strategy
Medium-term (1-3 year) goal supporting strategic objectives.
Business Decisions and Strategy
Business Objectives and Strategy
Acquiring control of business through purchasing shares/assets.
Business Decisions and Strategy
Business Objectives and Strategy
Operating at multiple supply chain levels but not fully controlling all.
Business Decisions and Strategy
Business Objectives and Strategy
Growth focused on specific segments/markets/products.
Business Decisions and Strategy
Business Objectives and Strategy
Using technology advances to create competitive advantage.
Business Decisions and Strategy
Business Objectives and Strategy
(SWOT).
Business Decisions and Strategy
Business Objectives and Strategy
(Porter's Five Forces).
Business Decisions and Strategy
Business Objectives and Strategy
Plan to restore business from poor performance to viability.
Business Decisions and Strategy
Business Objectives and Strategy
External factors business cannot influence: economic conditions, competitor actions, natural disasters, regulation, tech
Business Decisions and Strategy
Business Objectives and Strategy
(already covered - see 1.3).
Business Decisions and Strategy
Business Objectives and Strategy
Combining firms at different supply chain levels. **Forward integration:** toward customer (manufacturer acquiring retai
Business Decisions and Strategy
Business Objectives and Strategy
(Strategic).
Business Decisions and Strategy
Business Objectives and Strategy
(SWOT).
Business Decisions and Strategy
Business Objectives and Strategy
Approach benefiting multiple stakeholders; mutually beneficial.
Business Decisions and Strategy
Business Objectives and Strategy
Situation where gain for one equals loss for another.
Business Decisions and Strategy
Business Objectives and Strategy
Business Decisions and Strategy
Business Objectives and Strategy
- ✓ Ansoff's Matrix (all 4 strategies).
Business Decisions and Strategy
Decision-Making Techniques
A smoothing technique used in time-series analysis that calculates the average of a set number of consecutive data point
Business Decisions and Strategy
Decision-Making Techniques
A type of graph that plots two variables against each other to identify whether a correlation (relationship) exists betw
Business Decisions and Strategy
Decision-Making Techniques
A straight line drawn on a scatter graph that best represents the trend of the data, minimising the overall distance bet
Business Decisions and Strategy
Decision-Making Techniques
Using an established trend (from historical data or a line of best fit) to forecast future values by extending the trend
Business Decisions and Strategy
Decision-Making Techniques
A set of financial techniques used to evaluate whether a capital investment project is financially worthwhile, comparing
Business Decisions and Strategy
Decision-Making Techniques
An investment appraisal method that calculates how long it takes for the cumulative cash inflows from an investment to r
Business Decisions and Strategy
Decision-Making Techniques
An investment appraisal method that expresses the average annual profit from an investment as a percentage of the initia
Business Decisions and Strategy
Decision-Making Techniques
An investment appraisal method that discounts all future cash flows back to their present value using a discount rate, t
Business Decisions and Strategy
Decision-Making Techniques
A technique that adjusts future cash flows to their present value by applying a discount rate, reflecting the principle
Business Decisions and Strategy
Decision-Making Techniques
A quantitative decision-making tool that maps out possible options, their probabilities, and expected outcomes in a tree
Business Decisions and Strategy
Decision-Making Techniques
A project management technique that identifies the longest sequence of dependent activities (the critical path) in a pro
Business Decisions and Strategy
Decision-Making Techniques
A diagram used in Critical Path Analysis that maps all activities in a project showing their sequence and dependencies,
Business Decisions and Strategy
Decision-Making Techniques
In Critical Path Analysis, the earliest possible time at which an activity can begin, based on when all preceding activi
Business Decisions and Strategy
Decision-Making Techniques
In Critical Path Analysis, the latest time at which an activity can be completed without delaying the overall project co
Business Decisions and Strategy
Decision-Making Techniques
In Critical Path Analysis, the amount of time an activity can be delayed without delaying the overall project completion
Business Decisions and Strategy
Influences on Business Decisions
A focus on immediate or near-term results at the expense of long-term sustainability and investment, often driven by pre
Business Decisions and Strategy
Influences on Business Decisions
A focus on sustainable long-term business outcomes over short-term financial metrics, prioritising investment in people,
Business Decisions and Strategy
Influences on Business Decisions
The time horizon over which a business makes its strategic and financial decisions, ranging from short-term (weeks to mo
Business Decisions and Strategy
Influences on Business Decisions
A decision made by systematically gathering and analysing relevant data and research before choosing a course of action,
Business Decisions and Strategy
Influences on Business Decisions
A decision based on personal judgement, intuition, experience, or values rather than objective data or systematic analys
Business Decisions and Strategy
Influences on Business Decisions
An organisational culture centred on one or a few powerful individuals at the centre of a web of influence, who make mos
Business Decisions and Strategy
Influences on Business Decisions
An organisational culture characterised by formal rules, procedures, and clearly defined roles. Decision-making follows
Business Decisions and Strategy
Influences on Business Decisions
An organisational culture focused on completing projects and achieving specific outcomes. Teams are formed around tasks,
Business Decisions and Strategy
Influences on Business Decisions
An organisational culture where individuals prioritise their own interests and expertise over the organisation's needs.
Business Decisions and Strategy
Influences on Business Decisions
An individual or group within the organisation who has a direct interest in its activities and decisions. Includes emplo
Business Decisions and Strategy
Influences on Business Decisions
An individual or group outside the organisation who has an interest in or is affected by its activities. Includes custom
Business Decisions and Strategy
Influences on Business Decisions
A management philosophy that argues businesses should be run for the benefit of all stakeholders — employees, customers,
Business Decisions and Strategy
Influences on Business Decisions
A management philosophy, associated with Milton Friedman, that argues a business's primary duty is to maximise financial
Business Decisions and Strategy
Influences on Business Decisions
The market price at which a single share in a company can be bought or sold on the stock exchange, reflecting investor e
Business Decisions and Strategy
Influences on Business Decisions
The application of moral principles to business decisions and behaviour, addressing what is right and wrong in commercia
Business Decisions and Strategy
Managing Change
The structured process of planning, implementing, and embedding change within an organisation to minimise disruption and
Business Decisions and Strategy
Managing Change
Any significant alteration to the structure, culture, processes, systems, or strategy of an organisation.
Business Decisions and Strategy
Managing Change
A leadership style in which leaders inspire and motivate followers to achieve extraordinary outcomes by articulating a c
Business Decisions and Strategy
Managing Change
The tendency of individuals and groups within an organisation to oppose or slow down the implementation of change, often
Business Decisions and Strategy
Managing Change
The process of identifying and developing internal employees to fill key leadership or specialist positions in the futur
Business Decisions and Strategy
Managing Change
Employees whose skills, knowledge, relationships, or leadership are so critical to business operations that their depart
Business Decisions and Strategy