Business Organisation & Environment
Define SWOT analysis
Situational tool assessing internal strengths + weaknesses and external opportunities + threats
shape of chance and decision nodes.
Chance = circle
Decision = square
Purpose of Gantt Chart
allow project managers to identify the shortest amount of time needed to complete a particular project
four quadrants in the Boston Consulting Group matrix
Stars, Cash Cow, Question Marks, Dogs
power distance a tall business structure usually have (HL)
High power distance
two types of cost leader (HL)
Cost Leadership with Parity: Charge same price but lower cost
Cost Leadership with Proximity: Charge lower price with lower cost
Correlation in linear regression
the extent to which there is a relationship between two variables or events
“dependency” in a Gantt Chart? (HL)
activities that cannot start until the completion of other preceding tasks.
divesting in BCG matrix
phasing out or selling off dog products to free up resources to be used elsewhere
Masculinity versus Femininity in Hofstede’s Cultural Dimension (HL)
Masculine: assertiveness, competitiveness, ambition
Feminine: relationships, cooperation, communication
STEEPLE stands for ...
Social, Technological, Economic, Environmental, Political, Legal, Ethical
How weights are assigned in Force Field Analysis (HL)
Statistical weight of 1 to 5 from least to most important to the organisation
calculate free float in Critical Path Analysis (HL)
Free float = EST of next node – Duration – EST of current node
Uber, a taxi service provider does not own any vehicles of their own. What type of circular business model is Uber?
Sharing Model
long-term VS short-term orientation
Long-term:focus on the future, perseverance, patient with the results.
Short-term: focus on present/past, view societal change with suspicion + apprehension.
unrelated diversification
growth by selling completely new products in untapped markets
potential limitations of using descriptive statistics to aid business decision-making
Accuracy of Forecast
Time
Can be costly
What is a dummy activity used for
to prevent an illogical path from being followed in network diagram
circular supply models
CBMs that focus on replacing finite natural resources with renewable, recyclable and biodegradable resources in a sustainable way.
all Hofstede’s Cultural Dimensions (HL)
Power distance
Individualism versus Collectivism
Masculinity versus Femininity
Uncertainty Avoidance
Long term versus Short term orientation
Indulgence versus self-restraint
the components in a typical business plan (Categories)
The Business, The product, The market, The finance, The personnel, The marketing
absorption costing(HL)
extension of contribution costing: decide on the most appropriate way to distribute a firm's indirect or fixed costs.
difference between free and total float
Free Float: amount of time an activity can be delayed without affecting the EST of next activity
Total Float: amount of time available to an activity without causing a delay to the overall project
Linear vs Circular Business Models
Linear - Do not consider the long-term environmental impacts of business (Disposable society)
Circular - Decision-making tools that focus on the environmental impacts of business activities
importance of Hofstede’s Cultural Dimensions (HL)
help to prevent or minimize culture clashes due to ignorance or misunderstandings