Please share the latest business models you are being taught...

PEST can also be PESTLE which is Political, Economic, Sociological, Technological, Legal, Environmental. I learnt that one last year.

We were also taught porters 5 forces but that's been around since the 80s so i would imagine you would have covered that?

Maslow's Hierarchy of Needs, 4 Ps (then the 7 Ps), SWAT Analysis, PEST Analysis are all still being used today! we have covered all of these - and relied upon them as staple theories throughout each year!

I am currently in my 3rd year at Uni studying Business management and have my dissertation to hand in soon!

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Is Environmental literally the environment, or is it very close the previous four?

It doesn't ring any bells... what is it?

Thanks JHolloran, will check it out.

Are there any other models for more specific things like marketing, international business, social media etc?

Is Environmental literally the environment, or is it very close the previous four?



It doesn't ring any bells... what is it?



Thanks JHolloran, will check it out.

Are there any other models for more specific things like marketing, international business, social media etc?

The environmental element within PESTLE is all about the external environmental effects that could occur - such as the flooding this year. I think the expansion from PEST to PESTEL is to incorporate the external factors and include the ever increasing environmental tragedies.

Porters 5 forces is a strategic framework that can be used to better understand an organisations competitiveness and aid in development of the corporate strategy, its a good framework and when used correctly can really help unlock areas of competitiveness within the a sector.

We are currently studying marketing communications and look at communication models by Schramm (1955) and Katz & Lazarsfeld (1955) but my argument is the date of these theories doesn't make them directly applicable to current media channels i.e social media.

International business is an exciting module that covers things such as: multicultural communication, cultural intelligence etc. however i felt that when studying this module that most theories depended on cultural stereotypes which weren't always 100% accurate.

more or less coveredd by the above poster. This diagram gives you the 5 forces and how they link.

http://ibiz.wdfiles.com/local--files/industry-structure/FiveForces.jpg

Morning!

I studied Business Studies from GCSE, through A Level and then at University. It was brilliant, interesting and I could apply the subject immediately in work. Business Studies was the best thing I'd studied and it still serves me well in my job today.

However, that was a while ago and I've been wondering what models are most taught right now? Back in my day, it was all Maslow's Hierarchy of Needs, 4 Ps (then the 7 Ps), SWAT Analysis, PEST Analysis etc.

Has it changed? Are there now 20 Ps?

Please can you share a model you've been taught in here? Hopefully this could be quite useful too and we might learn something new.

Jack