BUSM 1115 Final Exam
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32 Terms
PESTCD
Analysis of Political, Economic, Social, Technological, Competitiveness, and demographic factors in an area.
Porter's 5 forces
Threat of new entrants, suppliers power, threats of substitutes, buying power, degree of rivalry.
Types of Resouces / Capabilities
Capital, employees, technology working together.
Planning
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Back of envelope
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Segmenting Strategy
Undifferentiated, Multi-Segment, Concentrated. Geographic, Benefits, Demographics, etc.
Demographics
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Achievng Sustainability
Planning, anticipate growth challenges, change direction, advice, groom leadership, best practices, etc.
Anticipate growth challenges
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Exit Strategies
Value, reduce risk, future options
Hire managers, successors
Sell, release cash flows, go public, private equity, liquidation.
Pros of buying existing company
Higher success rate, less planning, existing customers, equipment, operations, employees, etc.
Pros of buying existing company
Existing problems, problem employees, bad image, bad equipment, bad location, etc.
One or Multiple Suppliers
Choice / trust / quantity discounts / order size
Relations with suppliers
price, financing, reliability, treat fairly
Strategic Alliances
improve quality, reduce lead time, joint problem solving
Entrepreneurs
inspire staff, direct growth of firm, influence ethic, fun, etc.
Stages of Growth for Entrepreneur
One / Coach / Intermediate / Formal
Balace Sheet
Assets, liabilities and ownership equity are listed as of a specific date, such as the end of its financial year.
Income Statement
a company's financial statement that indicates how the revenue (money received from the sale of products and services before expenses are taken out, also known as the "top line") is transformed into the net income (the result after all revenues and expenses have been accounted for, also known as Net Profit or the "bottom line").
Debt vs. Equity
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Four P's of Marketing
Product, Price, Promotion, Place
Selecting Bis Operations
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Layout Options
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Equipment
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Pricing Strategies
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Variable/Fixed Costs
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Promotional Mix
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Distribution
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Business Stuctures
Sole prop / Partnerships / Corporations
Franchising
Benefits/Drawbacks
Family Business concerns
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Non-Family Members
May feel alienated and resentful of promotions only to family members.