- Unit 51: Executive Recruitment Solutions Assignment Sample-BTEC-HND-Level 4 & 5
- Unit 51-LO1 Explain the nature and scope of the recruitment industry-BTEC-HND-Level 4 & 5
- Unit 51-LO4 Apply skills for an executive search within a given business context to meet a client brief-BTEC-HND-Level 4 & 5
- Unit 51-LO3 Present the process of executive recruitment and the required skills at each stage of the process-BTEC-HND-Level 4 & 5
- Unit 50: Consumer and Intellectual Property Law Assignment Sample
- Unit 50-LO2 Examine the legal rules on consumer credit agreements-BTEC-HND-Level 4 & 5
- Unit 50-LO3 Evaluate the key provisions relating to intellectual property rights-BTEC-HND-Level 4 & 5
- Unit 50-LO4 Recommend appropriate legal solutions based upon relevant legislation, case law, and regulations-BTEC-HND-Level 4 & 5
- Unit 50-LO1 Analyse the main principles affecting the legal relationship between business organizations and their consumers-BTEC-HND-Level 4 & 5
- Unit 49: Company Law and Corporate Governance Assignment Sample-BTEC-HND-Level 4 & 5
- Unit 49-LO2 Assess the importance of meetings and resolutions incorporate management-BTEC-HND-Level 4 & 5
- Unit 49-LO3 Analyse the process of raising and maintaining capital for a company-BTEC-HND-Level 4 & 5
- Unit 49-LO4 Evaluate the role and impact of corporate governance in the management of companies-BTEC-HND-Level 4 & 5
- Unit 49-LO1 Evaluate the nature and legal status of companies-BTEC-HND-Level 4 & 5
- Unit 48: Law of Contract and Tort Assignment Sample-BTEC-HND-Level 4 & 5
- Unit 48-LO2 Discuss how the contents and the terms of the contract are established-BTEC-HND-Level 4 & 5
- Unit 48-LO3 Illustrate the impact of contractual breakdown and suggest remedies available for breach-BTEC-HND-Level 4 & 5
- Unit 48-LO4 Evaluate the elements of the tort of negligence and remedies available-BTEC-HND-Level 4 & 5
- Unit 48-LO1 Examine the essential elements of a valid contract-BTEC-HND-Level 4 & 5
- Unit 47: Business Intelligence Assignment Sample-BTEC-HND-Level 4 & 5
Unit 32-LO3 Evaluate and apply the outcomes of an analysis using Porter’s Five Forces model to a given market sector-BTEC-HND-Level 4 & 5
Course: Pearson BTEC Levels 4 and 5 Higher Nationals in Business
Porter’s Five Forces model is a tool that evaluates the competitive forces in an industry. It does so by examining five factors:
- supplier power
- buyer power
- the threat of substitutes
- the threat of new entrants
- degree of rivalry.
This article will share insights on how to apply Porter’s Five Forces Model to help evaluate and better understand your market sector.
The first step in applying this tool is understanding its strengths and weaknesses as it can only offer limited information about the industry because it doesn’t provide any insight into pricing strategies or marketing tactics for example. It should be used in conjunction with other tools like SWOT analysis or break-even analysis which may provide more detail on specific strategic choices for business success.
The next step is to put the model to use for making better decisions, and trying to make your competitive advantage as strong as possible.
Analytical tools and models of analysis:
The Balanced Scorecard to align organization vision and strategy
The Balanced Scorecard is a management tool to align organizational vision and strategy. It assures constituencies in an organization understand the broader objectives of the company, what success looks like, and key business drivers. The Balanced Scorecard provides insight into where current operational best practices are coming along well but also identifies opportunities for improvement.
A Balanced Scorecard can track metrics that change from year to year depending on changing legislation, new technology releases, or other external factors outside of your organization’s control.
It makes it easier to monitor progress and identify areas for improvement while executing operations within defined parameters required by ever-changing management requirements such as competitive environment, regulations, or supplier reliability levels.
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Competitive analysis using Porter’s Five Forces model
Competitive analysis using Porter’s Five Forces model is a competitive framework that determines industry attractiveness. The five forces are generally considered the most important factors affecting the level of competition in an industry.
It serves as a decision-making tool for discovering competitive advantages and selecting the appropriate business strategy.
Stakeholder analysis is a method of assessing who has an interest and how they will be impacted by your organization’s decisions. This process involves defining the interests that are at stake, analyzing what is important to stakeholders, understanding their needs and preferences, and evaluating their power relative to each other.
Stakeholders can range from individuals or groups with specific needs (i.e., customers) to those with greater authority over decision-making processes (i.e., government officials).
Applying the Ansoff matrix to product/market strategy
Applying the “Ansoff Matrix” to product/market strategy is a common marketing tactic. The strategy looks at four basic product strategies:
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Tactical (short-term) – focus on improving current products and upgrading them with modifications.
Supplementary (short-term) – produce new products that support the company’s current portfolio, but don’t replace anything.
Market penetration (medium-term) – focus on increasing sales volume through additions to production capacity or intensified advertising campaigns for old products even without any significant changes in what they offer or how they are sold. Developments stay tactical.
Differentiate and grow (long term) – first make sure there is “something different.” Focus on wooing new customers, then make it hard for them to go elsewhere. Analyze your current portfolio of products then grade the opportunities relative to each category by asking “What can I do with this?”
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