20044745
Description
Flashcards by Johannes Tsouchlos, updated more than 1 year ago
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Created by Johannes Tsouchlos
about 5 years ago
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| Question | Answer |
| Just-in-time manufacturing | Originally JIT referred to the production of goods or services to meet the customer’s requirements, on time ant to the standard required. Over the years, it has come to mean continues improvement and the elimination of waste |
| Quick response manufacturing | means responding to customers’ needs by rapidly designing and manufacturing products tailored to those needs |
| Lead time | A lead time is the latency between the initiation and execution of a process |
| lean thinking | Aims at reduce non valueadding types of waste (through continuous improvement programmes) |
| Overhead value analysis | |
| Kay's distinctive capabilities | John Kay’s distinctive capabilities model (1993) is a strategy theory that adds to the understanding of the nature of (sustained) competitive advantage 1. Architecture, 2. Reputation, 3. Innovation |
| Distinctive capabilities | Companies with distinctive capabilities have attributes that cannot be replaced by other companies, and therefore allow the company to generate above-average economic profits |
| Outsourcing | Outsoursing is the delegation of non-core operations to an external source that is specialised in the management of that operation |
| Offshoring | Off-shoring is comparable to outsourcing, but he business process – production, manufacturing or services – is moved to another country |
| Market research | The process of gathering, interpreting and reporting information to help marketers solve specific marketing problems or take advantage of marketing opportunities. |
| Experts | Experts are people who have extensive knowledge of the market in which you are interested. |
| Technostructure | Technostructure is the group of technicians, analysts within an organisation (enterprise, administrative body) with considerable influence and control on its economy. |
| Delphi technique | The Delphi technique is a method of collecting opinion on a particular research question. It is based on the premise that pooled intelligence enhances individual judgment and captures the collective opinion of a group of experts without being physically assembled. |
| The scenario | the technique itself consists broadly of constructing hypothetical futures and testing the likelihood of these futures by identifying avenues by which they can be achieved. |
| Transparency | refers to process of making explicit assumptions about the relationship between key driving forces. |
| Diversity | – implies that there is no single ‘best’ scenario or ‘high’ or ‘low’ market projection; it recognises that the future is uncertain and considers a number of different strategic routes. |
| Morphological techniques | - these techniques are mainly concerned with identifying the implications of certain courses of action and assisting in the comprehensive consideration of alternatives by the use of forms. |
| Road mapping | a process, by which experts forecast future developments in technology and in the marketplace, and identify the consequence of those developments for companies |
| The marketing mix - product | |
| The marketing mix - promotion | |
| The marketing mix - price | |
| The marketing mix - place | The logistics aspects of distribution are particularly important in B2B markets as speed and, above all, reliability of delivery are vital. This emphasis on reliability of delivery has increased in recent years with the introduction of just-in-time (JIT) and flexible manufacturing systems in purchasing and production. |
| Mintzberg's configurations - purpose | The framework describes 6 organisational configurations These configurations help with understanding what drives decisions and activities in an organisation |
| Mintberg's configuration - advantage | ADVANTAGE: It helps to understand the relationship between the nature of an organisation and its co-ordination mechanism |
| Mintberg's configurations - disadvantage | DISADVANTAGE: Due to robust nature of the framework, it is difficult for organisations to match or compare to these configurations (limited number of criteria, there are many hybrids or combinations in practice); for example, it is irrelevant whether an organisation can be exactly classified as innovative or entrepreneurial |
| Mintberg's configurations - most important parameter | the way in which power is distributed throughout the organisation (it refers to the type of decentralisation) |
| Mintberg's configurations - elements and main dtrategic guidelines | |
| Boston Consulting Group Matrix - disadvantages | Analysis is based on two factors; There are no clear criteria in what type of market is appropriate to use; Does not indicate where to assign new products; Matrix is focused on rapid growth rates; Does not take into account competitors' actions. |
| Boston consulting group production portofolio matrix - general guideline | To use the profit of “Cash Cow” for “Star” investments or new product development. These funds can be used for “Problem child”, to make them “Star”. Usually, “Dogs” makes the biggest part in portfolio. There is an advice to stop “Dogs” production, if in the future significant investments are required. |
| Boston consulting group product portofolio matrix | |
| Porter's five-forces model - main purpose | Five Forces Analysis helps the marketer to contrast a competitive environment. It has similarities with other tools for environmental audit, such as PEST analysis, but tends to focus on the single business or unit rather than a single product or range of products. |
| Porter's five forces model | |
| Scenario - objectives | A specific goal (one-off, problem-solving projects) versus a more general objective (longer-term projects that enable the survival of the organisation). 2. Projects undertaken to open up an organisation that is closed to new ways of thinking, versus projects to achieve closure on decisions and action in an organisation that is drifting. |
| Scenario - categorization of scenario objectives | |
| Morphological Techinques - Main methods | The most common forms used are the matrix and the relevance tree. These forms are particularly useful as a first stage forecast where a new product is involved or where opportunities are being sought for existing products in new markets. The matrix is used to show in tabular form the interaction of at least two sets of parameters. The relevance tree is used schematically to represent possible product needs arising from particular trends in the business environment. Morphological forecasting techniques have already been used in such diverse areas as the market for industrial materials, and the implications of pollution control for an oil company. |
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