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

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Captain Jack
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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
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blue n white army
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PEST can also be PESTLE which is Political, Economic, Sociological, Technological, Legal, Environmental. I learnt that one last year.
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blue n white army
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We were also taught porters 5 forces but that's been around since the 80s so i would imagine you would have covered that?
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Captain Jack
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(Original post by blue n white army)
PEST can also be PESTLE which is Political, Economic, Sociological, Technological, Legal, Environmental. I learnt that one last year.
Is Environmental literally the environment, or is it very close the previous four?

(Original post by blue n white army)
We were also taught porters 5 forces but that's been around since the 80s so i would imagine you would have covered that?
It doesn't ring any bells... what is it?

(Original post by JHolloran)
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!

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Thanks JHolloran, will check it out.

Are there any other models for more specific things like marketing, international business, social media etc?
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JHolloran
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(Original post by Captain Jack)
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.
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blue n white army
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(Original post by Captain Jack)
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?
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...FiveForces.jpg
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Captain Jack
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(Original post by JHolloran)
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.
Ah, OK thanks for explaining. I guess that does make sense. I always prefer to go for the simple models as most people's tendencies are to over complicate things, e.g. Environmental could probably fit into one of the other categories. But, I do understand that with the greater number of large environmental tragedies, why it might for some businesses be sensible.

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.
(Original post by blue n white army)
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...FiveForces.jpg
Thanks, I hadn't seen this before (I don't think - perhaps I've just forgotten ) I might try and use this in a TSR meeting!

Name:  FiveForces.jpg
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I like International Marketing, if you get the chance to gain work experience in an international marketing department I'd highly recommend it.
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cole-slaw
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(Original post by Captain Jack)
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
Pestel seems unnecessary to me, legal fits into political and environmental fits into technological.

Michael Porter is a good read, his five forces plus his three generic strategies, I would also recommend Chandlers structure and strategy.

Business and Organisation Theory is quite interesting as it lies at the juxtaposition of Economics and Sociology, so there are always two contrasting points of view on any given subject.

Some of the big debates I would recommend that you might find interesting would be:

motivational psychology vs principal agent theory
real world decision making models vs transaction cost economics
environmental ecology/evolutionary theory vs neo-institutionalism
multistage game theory vs social network analysis
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