4.1 - Leadership
The process of planning, organizing, leading, and evaluating the use of a business’s human, financial, and physical resources to achieve goals and objectives
What is management?
Measurable value that indicates how effectively an organization is achieving its objectives.
Key Performance Indicator (KPI)
A plan or approach to achieving a goal.
What is a strategy?
Porters five forces
Competitive rivalry, threat of new entrants, threat of substitutes, bargaining power of suppliers, bargaining power of buyers.
Planning, organizing, leading, evaluating and controlling
What are the four key business functions?
Masuring financial health using, revenue, gross profit, gorss profit margin, operating profit, operating profit margin, COGC, operating expenses, cash flow
Financial KPIs
Specific actions to execute the strategy.
What are tactics?
Internal advantages of a business using SWOT analysis
What are strengths?
Dept. heads and managers who implement strategies and coordinate teams
What is Middle Level/Tactical management?
Customer aquisition costs, customer lifetime value, customer satisfaction rating, customer retention rate, total sales, market share
Marketing and sales KPIs
The PACED model
P - Identidy the problem
A - List alternatives
C- Establish criteria for decision making
E - Evaluate alternatives
D - Decide on best option
External challenges or risks to a business in the SWOT analysis
What are threats?
The combination of skills, knowledge, and abilities that give the company a competitive advantage.
What are core compentencies?
A reference point or standard used for comparison, e.g. comparing your companies performance to competition.
What are benchmarks?
Business factors involving tangible factors data, e.g. production costs, profitability
What are quantifiable factors?
Exrernal factors to levarage in SWOT analysis
What are opportunities?
Health insurance, retirement savings plans, health savings accounts, disability insurance, tuition reimbursement, paid time off.
What are common benefits?
Comparing your companies performance to historical data from the business itself, e.g. your companies current sales compared to past sales.
What are internal benchmarks?
What is ROI?
Return on investment
Internal limitations of a business using SWOT analysis
What are weaknesses?