Summary OVERALL BUSINESS ORGANISATION: IEB-Ready Business Studies Notes
3 views 0 purchase
Course
Business Studies
Institution
12
These PDF document contains all the necessary information needed to achieve a 95% PASS in the IEB FINALS, as I did with these very notes. Each page contains colour (not too much that it becomes distracting) and takes a very structured and consistent approach to summarising. The TEXTBOOK is often TO...
Market Environment
Porter’s Six Forces Model
● Power of competitors
● Threat of new entrants
● Substitute Products
● Power of buyers
● Power of suppliers
● Impact of complementary products
Micro Environment
Eight Business Function
● Purchasing function
● Production department
● Financial function
● Human Resources
● Marketing department
● Administrative function
● General Management
1. The importance of creative thinking and problem solving
techniques to identify strategies to improve the overall
performance of the business
- Defined as identifying a problem the consumer is not even aware of yet and finding a
way to solve that problem
- Aim is to create and maintain a competitive advantage, as well as adaption of the
product life cycle
, 2. Problem-solving Techniques
2.1 Pros and Cons Chart
- Make a decision based on the advantages and disadvantages of a specific option
PROs CONs
*CHECK BOOK p.29
2.2 Decision Tree
- Visual representation of different outcomes to a single event
2.3 Value Chain Analysis
- Aim is to add value for the stakeholders/customers to be satisfied
- Review entire business process to decide where value is added / can be added in a cost
effective manner to enhance the quality of the product or service rendered
2.4 PE2STLE Analysis
- Analyse each sector and formulate strategies to overcome the challenges
2.5 SWOT Analysis
- Used to assess the internal and external environments\
- Strength & Weakness > Internal (8 Business functions/ Micro Environment)
- Opportunity & Threat > External (Makro/ Market Environments)
*CHECK BOOK p.31
2.6 The Delphi Technique
- Obtains the opinions of experts on a particular topic without face-to-face engagement
- Experts remaining anonymous prevents subjectivity and bias when expressing their
opinions / recommendations critically
- First information will be collected from a panel of people about their expectations
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller jackb1. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $3.54. You're not tied to anything after your purchase.
