SWOT
This letter in SWOT refers to internal positive attributes of a business.
What is Strength
This Ansoff strategy involves selling existing products to existing markets.
What is Market Penetration?
The 'E' in STEEPLE that refers to the state of the economy, including GDP and interest rates.
What is Economic?
In the BCG Matrix, this product has high market share in a high-growth market and is the ideal product.
What is a Star?
The middle value in an ordered data set is known as this.
What is the Median?
Porter identified this strategy where a business offers the lowest price in the industry.
What is Cost Leadership?
The circular business model aims to eliminate this, keeping resources in use for as long as possible.
In a decision tree, this symbol represents a point where a manager must choose between options.
What is a Decision Node (square)?
A Gantt chart is primarily used to plan and monitor this.
What is a Project (or Project Timeline)?
SWOT analysis falls under this stage of strategic planning where a business examines its current position.
What is Situation/Position Analysis?
Ansoff's Matrix is primarily used to assess this business concept.
What is Growth/Risk?
This STEEPLE factor covers employment laws, health and safety regulations, and consumer protection.
What is Legal?
BCG stands for this consulting group that developed the matrix.
What is Boston Consulting Group?
Measures data spread by calculating the difference between the first and third quartiles, showing the middle 50% of values.
What is Interquartile range?
In Porter's model, this strategy involves targeting a niche market with either low cost or unique features.
What is Focus Strategy?
This principle of the circular economy involves returning biological materials safely back to the biosphere.
What is Biological Cycle (or Cradle to Cradle)?
Points are awarded that is all or nothing or based on a level system of what is seen?
What is seen?
In a Gantt chart, tasks are shown as horizontal bars along this axis.
What is the Time Axis (horizontal/x-axis)?
These are external negative factors in a SWOT analysis that a business cannot control but must prepare for.
What are threats?
This highest-risk Ansoff strategy involves new products in new markets.
What is diversification?
Changing demographics and cultural shifts fall under this STEEPLE factor.
What is Social?
This BCG quadrant describes products with low market share in a low-growth market, often discontinued.
What is a Dog?
This descriptive statistic shows the most frequently occurring value in a dataset.
What is mode?
A business using this Porter strategy offers unique or premium products that customers are willing to pay more for.
What is Differentiation?
Unlike the traditional linear model of 'take-make-dispose', the circular model follows this alternative process.
What is 'Reduce, Reuse, Recycle' (or Make, Use, Return)?
In a decision tree, circles represent these points where outcomes depend on chance rather than decisions.
What are Probability Nodes?
This feature of a Gantt chart shows which tasks must be completed before another can begin.
What are Dependencies ?
A Business uses this quadrant of SWOT to identify areas where internal limitations may hinder growth.
What are weaknesses?
A mobile phone company launching a smartwatch in its existing customer base is using this Ansoff strategy.
What is Product Development?
This STEEPLE factor examines sustainability, climate change policies, and waste management affecting business.
What is Environmental?
A 'Cash Cow' in the BCG Matrix has this combination of market share and market growth.
What is High Market Share and Low Market Growth?
In IB Business Management, this type of data includes numerical figures such as sales revenue and profit margins.
Porter warned that businesses trying to pursue both cost leadership and differentiation simultaneously risk being in this unfortunate position.
What is 'Stuck in the Middle'?
This business strategy within the circular model involves designing products that can be easily repaired, upgraded, or disassembled.
What is design for longevity?
Average outcome if the decision was made many times over.
What is expected value?
This benefit of Gantt charts allows managers to see at a glance whether a project is running on this.
What is Schedule (on time)?
Economic downturn would fall under this category
What is threats?
Ansoff identified this strategy where a business sells existing products to new geographical markets.
What is Market Development?
The final letter of STEEPLE examines CSR, fair trade practices, and business moral obligations.
What is Ethical?
This BCG quadrant requires heavy investment decisions as the product has low share in a high-growth market.
What is a Question Mark (Problem Child)?
Statistical measure of dispersion or variation of the values in a set of data around its mean.
What is standard deviation?
Porter's generic strategies are built around achieving this over rivals in the marketplace.
What is Competitive Advantage?
This global framework, often linked to the circular business model, sets 17 goals for sustainable development.
What are the UN Sustainable Development Goals (SDGs)?
Represents two parallel lines in the decision tree.
What is expected value?
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