Matrices
These go into a BCG
products
The four words that make up "SWOT"
Strengths, weaknesses, opportunities, threat
To make informed decisions
Data set is 3, 7, 12, 15, 20, x
Mean is 12. x is?
15
This allows us to visualize the relationship between two variables and determine correlation
Scatter Diagram
A SWOT analysis should lead to this
A strategy
The letters that make up "BCG"
Boston Consulting Group
The purpose of the executive summary of a business plan
To outline org's vision and/or mission statement
Price is $7 for hotdogs.
Total revenue is $700
Cost of Sales is $500
Fixed cost is $200
Contribution per unit is therefore?
$2 per unit.
Cost per unit = $500/100= $5.
100 comes from TR/P
Price is $7
If an IB business management wanted to extrapolate data, they'd use this.
Line of best fit
The four quadrants of Ansoff Matrix
Market Penetration
Market Development
New Product Development
Diversification
The two axes of a BCG
Market Growth (%) and Market Share (%)
An alternative tool to network analysis for managing a project timeline
Gantt Chart
Tyre A has an average length of use of 900 days with a standard deviation of 50 days.
Tyre B has an average length of use of 1,000 days with a standard deviation of 300 days.
Which tyre is more reliable?
Tyre A. Recall that the value of one standard deviation is approximately 68%.
Approx 68% of the time, Tyre A will last between 850 to 950 days.
Approx 68% of the time Tyre B will last between 700 to 1,300 days.
Given the wider interquartile range for Tyre B, we could say that Tyre A is more reliable as we know with greater certainty when it will need to be replaced.
The most difficult and unreliable part of creating a forcefield analysis
Determining the values of the different forces
The 4 nicknames for BCG quadrants
Stars, Question Marks (or problem children or wild cards), Cash Cows, Dogs
The three Es in STEEPLE
Economic factors, Environmental factors, and Ethical factors
A dummy activity (accept dotted line)
45% chance of improved economy, which would lead to $5m
35% chance of unchanged economy, which would lead to $3m
20% chance of worsened economy, which would lead to $2m
$1.2m
improved: 5m x 0.45 = 2.25
unchanged: 3m x 0.35 = 1.05
worsens: 2m x 0.2 = 0.4
(2.25+1.05+0.4)-2.5 = 1.2
Competitive scope/target market
and Competitive advantage
The name of 3 of the 4 BCG strategies
Holding strategy (for stars)
Building strategy (for ?)
Harvesting strategy (for cows)
Divesting strategy (for dogs)
Accept 4 of:
Circular supply
Resource recovery
Product life extension
Sharing
Product Service System
2. Ignores qualitative dimensions
3. Accept any other valid response
Activity A: 2 weeks
Activity B: 3 weeks
Activity C (requires A to be completed): 5 weeks
Activity D (requires B and C to be completed): 3 weeks
What is the EST of activity D?
7 weeks
A+C = 7 weeks (longer time)
B = 3 weeks
B + C both need completion
Hofstede described 6 different cultural dimensions. Three of these are individualism vs. collectivism, power distance, and masculinity vs. femininity.
Name the other 3.
Short-termism vs. long-termism
Uncertainty avoidance
Indulgence vs. restraint