BMTs

Question 1

BMT 1 - SWOT analysis

Answer 1

Quick analysis of a company

Strengths, Weaknesses, Opportunities, Threats

Useful for paper 1 prep

Question 2

BMT 2 - Ansoff Matrix

Answer 2

Used to analyse company growth strategies

2 columns - markets and products with two sub sections - existing markets, new markets - existing products, new products

Market development - New market, Existing product

Market penetration - existing market, existing product

Diversification - new product, new market

Product development - existing market, new product

Extremely useful for analysing growth methods and predicting new growth methods

Likely to be used in paper 2 & maybe paper 2

Question 3

BMT 3 - STEEPLE

Answer 3

Used to analyse external environment (country and markets etc.)

Social, Technology, Ethics, Environment, Political, Legal, Economical

Not really useful

Unlikely to be used

Question 3

BMT 4 - BCG Matrix

Answer 3

Used to group and understand a companies product portfolio

2 columns - market growth and market share - high and low

Cash cow - low market growth, high market share

Star - high market growth, high market share

Question mark - low market growth, high market share

Dog - low market growth, low market share

Question 4

BMT 5 - Business plan

Answer 4

Used to analyse a business operations, finance and plans

Aspects include - vision & mission statements, operations, marketing, structure, culture, finances, forecasted figures etc.

Unlikely to come up and not super useful

Question 5

BMT 6 - Decision trees

Answer 5

Used to analyse options for a business (often growth methods) and choose which plan has the highest outcome

Really useful and likely to come up in paper 1, 2

Question 6

BMT 7 - Descriptive statistics

Answer 6

Given to you in the paper, stuff like mean, mode, medium, standard deviation.

Likely to come up in paper 2, maybe in paper 1 & 3

Question 7

BMT 8 - Circular business models

Answer 7

5 types - circular supply model, resource recovery model, product life extension models, sharing models, product service system models

circular supply model - focus on replacing finite natural resources with renewable, recyclable and biodegradable resources in a sustainable way.
Example: an increasing number of farmers are using agricultural residue or waste as renewable fuel.

resource recovery model - C2C - the design and production of products in such a way that at the end of their product life cycle, they can be re-processed into new resources.

resource recovery model - closed loop recycling - involves processes to collect, recycle and reproduce waste to make something new.

resource recovery model - industrial symbiosis - one industry’s by-products or waste are turned into the raw materials for another industry.

product life extension models - rely on methods such as repairing, reconditioning, refurbishing, and renovating products so that they can be continued to be used.

Sharing models - This offers services where customers share products rather than owning such items for themselves. Uber, Airbnb.

product service system models - offer the function of a product rather than the physical product itself.
This creates incentives for businesses to use environmentally friendly product designs that are more efficient to use. Netflix, Spotify.

Likely to be used on paper 1, 2 & 3

Question 8

BMT 9 - Gantt Charts

Answer 8

Used to analyse a production project

Maybe comes up on paper 2

Question 9

BMT 10 - Porters Generic Strategies

Answer 9

Used to describe a competitive advantages

Two columns - scope and competitive advantage

Two subsections - scope - Niche & Mass, Competitive advantage - cost, uniqueness

Mass cost - cost leadership

Niche cost - Focus (cost focus)

Mass uniqueness - Differentiation

Niche Uniqueness - Focus (focus differentiation)

Likely to come up & useful for paper 1, 2 & 3

Question 10

BMT 11 - Hofstede cultural dimensions

Answer 10

Used to describe an organisation culture

1. Power distance - power rules
2. Individualism vs collectivism - group or individual orientated
3. Masculine vs Feminine - focuses on traditional masculine values (power, dominance, money) or traditional feminine values (kindness and group and affiliation)
4. Uncertainty avoidance - focuses on sure fire plans
5. Long term vs short term - self explanatory

Question 11

BMT 12 - Force field analysis

Answer 11

Decision making tool to weigh up benefits vs cons of a decision.

Restraining forces vs Pushing forces

Maybe comes up on p1, 2 & 3

Pretty much self explanatory no need to study

Question 12

BMT 13 - critical path

Question 13

BMT 14 - contribution

Answer 13

how much a product contributes to the fixed costs of a business

Selling price - cost to make

CRITICAL

Could come up on all 3 paper

Need to know for break-even

Question 14

BMT 15 - Simple linear regression

Answer 14

Shows the depreciation of an assest

Could come up on all 3 papers

Not crazy hard as long as you have basic knowledge

Question 15

Need to know ones

Answer 15

Contribution

Ansoff

BCG matrix

Porters

Decision trees

Circular business model