Year 1 BMTs

SWOT Analysis

A strategic planning tool used by businesses to identify internal strengths and weaknesses, and external opportunities and threats.

SWOT Analysis Components

Strengths – internal advantages (e.g. strong brand, skilled workforce).

Weaknesses – internal limitations (e.g. poor cash flow, outdated tech).

Opportunities – external chances for growth (e.g. new markets, trends).

Threats – external risks (e.g. competitors, economic downturn).

Ansoff Matrix

A strategic planning tool that helps a business decide its growth strategy by looking at products and markets. New and existing products and markets.

Ansoff Matrix Components

Market Penetration – selling more of existing products in existing markets.

Product Development – creating new products for existing markets.

Market Development – entering new markets with existing products.

Diversification – launching new products in new markets.

STEEPLE

A strategic tool used to examine external factors that can impact a business.

STEEPLE Components

Social – demographics, culture, lifestyle trends.

Technological – innovation, automation, R&D.

Economic – inflation, interest rates, unemployment.

Environmental – sustainability, climate change, regulations.

Political – government policies, stability, trade laws.

Legal – labor laws, health & safety, consumer protection.

Ethical – moral standards, fair trade, CSR.

BCG (Boston Consulting Group) Matrix

A portfolio analysis tool that helps businesses decide where to allocate resources based on market growth and market share.

BCG Matrix Components

Stars – high market share, high growth.

Cash Cows – high market share, low growth.

Question Marks – low market share, high growth.

Dogs – low market share, low growth.

Descriptive Statistics

A way of summarizing data by showing the average or most common values.

Descriptive Statistics Components

Mean – the average.

Median – the middle value.

Mode – the most frequent value.

Porters generic strategies

A framework that helps a business gain a competitive advantage by focusing on cost or differentiation in a market.

Porters Generic Strategies Components

Cost Leadership – becoming the lowest-cost producer in the industry.

Differentiation – offering unique products/services that are valued by customers.

Cost Focus – targeting a niche market with lower costs.

Differentiation Focus – targeting a niche market with unique products/services.