Unit 4

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What are the different types of culture in a business?
Power, Role, Task and Person
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What is power culture?
Top down, very strong
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What is role culture?
Found in bureaucracies, Focus on rules and procedures
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What is task culture?
Focus and emphasis on group, team work and adaptability
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What is Person culture?
Employee is important to develop their careers and expertise eq Accountancy and Legal firms
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What could happen if NB's corporate culture changes?
May lose workers and get high labour turn over, new leadership means new
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What do companies with distinctive capabilities have?
Attributes which others dont have and cant replicate
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What are 3 distinctive capabilities?
Architecture- structure of relational contracts within or around the organisation, Reputation - customer experience, quality signals, word of mouth & Innovation - Provided the innovation is made into a successful competitive advantage
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What are the parts of Porters 5 forces?
Threat of new entry, Competitive rivalry, Supplier power, Threat of substitution & Buyer power
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What are the sections of Ansoffs matrix?
Market penetration, Product development, Market development & Diversification
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What are the sections of Porters genetic strategies?
Cost leadership, Cost focus, Differentiation & Differentiation Focus
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What is cost leadership strategy?
Gaining competitive advantage by being the lowest cost producer, low prices and high profit margins
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What is Differentiation strategy?
Meeting customer needs by offering something different, Prices can be higher and profit margins higher
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What is cost focus strategy?
Focus on niche market segment and minimise costs within the niche market
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What is differentiation focus strategy?
Focus on niche segment and offer something different within the niche
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What is an example of a cost leader?
Nike, they manufacture cheaply in places such as Bangladesh and pay low wages and prices for material
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What is an example of differentiation focus?
Ferrari- aimed at a small percentage of the population
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What is SWOT analysis?
A tool used to identify what is possible for NB and what threaten it
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What is an example of cost focus?
Aldi - they have a focused range of products at low prices
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What are strengths of NB?
Product quality range, fast lead times, lean manufacturing and experienced loyal workforce
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What are weaknesses of NB?
High costs on workers, weak net profit margins and competition eg Adidas and Nike
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What are opportunities of NB?
Social trends eg fitness and fashion & technologies to reduce costs and improve product innovation
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What are threats of NB?
Exchange rate fluctuations for export counterfeit goods
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What is the Boston Matrix
A product portfolio analysis tool to plot out the product and identity which marketing strategy to use
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Where is a dog product on the Product Life Cycle?
Decline
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Where is the star on the PLC?
Growth
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What is an example of a question mark for NB?
Planning to introduce a football shoe
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What is the gross profit ratio?
(Gross profit / turnover) x 100
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What is the net profit ratio?
(operating profit / turnover) x 100
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What is the equation for the current ratio?
current assets / current liabilities
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What is the equation for the acid ratio test?
(current assets - stock) / current liabilities
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Other cards in this set

Card 2

Front

What is power culture?

Back

Top down, very strong

Card 3

Front

What is role culture?

Back

Preview of the front of card 3

Card 4

Front

What is task culture?

Back

Preview of the front of card 4

Card 5

Front

What is Person culture?

Back

Preview of the front of card 5
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