Environments (PEST)
List 2 methods a business uses to minimise tax.
Tax havens & transfer pricing.
List 2 benefits of having a global brand.
Consistency, low risk, low cost, easier to manage, better differentiation.
What types of strategic alliances do you need to know in the syllabus?
Outsourcing, acquisition, mergers, joint ventures, franchising.
List the 2 models that assist in preparing people for change.
Lewin's Forcefield Analysis model & Kotter's 8 steps change management model.
How many siblings does Miss Milne have?
1
What are 2 reasons a business might outsource?
Lower costs, management will be able to focus on core business activities, avoiding costly technology, improve customer focus.
What 3 factors determine the feasibility of expanding into a foreign market?
Level of demand by consumers, consumption patterns, competitor activity.
What are the 3 types of mergers?
Horizontal, vertical and conglomerate.
List the 4 reasons for resistance to change.
Financial costs, managerial inertia, cultural incompatibility in mergers/takeovers and staff attitude.
14
List 3 impacts of globalisation.
Employment levels, spread of skills and technology, international cooperation, domestic market, tax minimisation.
Adapting = Changing the slogan for countries based on values.
Describe 3 risks involved in international transactions.
Delays in payment or non-payment, loss or damage in transit, loss due to exchange rate variations, and increased transportation costs.
List the 8 steps in Kotters model.
1. Create urgency 2. Form a powerful coalition 3. create a vision for change 4. communicate the vision 5. remove obstacles 6. create short-term wins 7. anchor the changes in corporate culture 8. build on the change.
19
Explain how discretionary spending impacts business growth.
As economies of countries develop, more people earn a decent wage = more discretionary income = spending on goods & services.
What 3 ways can you assess competition in a target market/country?
Primary data, secondary data and anecdotal data.
Outline the difference between process innovation and product innovation.
Process innovation is about changing and improving how a business operates and/or manufactures, distributes and markets its products or services. Product innovation refers to changing and improving the features, materials or functions of a product or service.
In what year did the Workplace Gender Equality Act come into place?
2012
What colour hair was Miss Milne born with?
Black/dark brown
Explain how the stability of a government impacts business operations.
Lack of political stability in a country will affect business operations. If a country is unstable there may be riots, protests or corruption and this may hinder or complicate business operations.
What 4 marketing mix elements do you need to know when discussing standardisation or adaptation for global brands?
Slogan, product name, product features, positioning.
List the 3 benefits of innovation and the 4 factors that impact the success of innovation.
Benefits: financial gain, expansion of global market presence, increased market share.
Factors that impact: timing, cost, marketing strategy and technology.
List all of the leadership traits needed in a cross-cultural setting.
skilled communicator, socially aware, skilled decision-maker, future thinker, self-discipline, responsible, motivational
What is Miss Milne's favourite number?
2