xxClarexx
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#221
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#221
This is from my notes:

Retrenchment (downsizing)
Some businesses make a decision to become smaller. Why?
- Overcapacity – reduce size to increase capacity utilisation.
- Financial Reasons – sell assets to reduce Gearing
- Returning to core business

How to Retrench
Sell off part of the business – Ford sells Jag/Land Rover to Tata.
Lay offs in existing plants
MBOs (Management Buy outs) sell part of the business to its own managers:
Positive: Managers have knowledgeable and skills to run it. Managers highly motivated by ownership.
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helentate
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#222
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#222
Hiya, not really sure how to work this forum but does anyone know the difference between contingency planning and crisis management?

Also iv got two versions of the marketing model... does anyone know if this is right: Set objectives, collect data, form hypothesis, test hypothesis, control and review?
x
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DevonHowell
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#223
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#223
(Original post by helentate)
Hiya, not really sure how to work this forum but does anyone know the difference between contingency planning and crisis management?

Also iv got two versions of the marketing model... does anyone know if this is right: Set objectives, collect data, form hypothesis, test hypothesis, control and review?
x
Contingency planning is where firms attempt to create a plan of action for what they would do incase an unexpected event ever occurs. So this is where the business is trying to be proactive and plan ahead.

Crisis management is sort of the opposite in this respect. It is where there is a team within the organisation who are in charge of how the business will respond to a crisis when it occurs. They are in charge of the decision making and try to minimise the impact of the crisis on the business when it happens.

I think that my conclusion to a question on this would be to implement an effective mix of the two. The ability to react to problems when they occur is beneficial because unexpected events are exactly that - unexpected. Therefore you cannot expect to plan for every single event that might occur. Also there will be many variables in terms of the impact of the crisis. It may not be possible to write a contingency plan for all events because it depends on the scale of the event. Having an effective team that will respond to events after they occur will enable the business to most effectively respond to the actual event. However being proactive will give the business time to think over the possible responses and enable them to decide upon a plan of action in plenty of time as well as being under less pressure. Hope this makes sense.
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DevonHowell
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#224
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#224
(Original post by helentate)
Hiya, not really sure how to work this forum but does anyone know the difference between contingency planning and crisis management?

Also iv got two versions of the marketing model... does anyone know if this is right: Set objectives, collect data, form hypothesis, test hypothesis, control and review?
x
Oh and Im not sure about that marketing model. I remember it as:
1. Objectives
2. Gathering of market research and other data
3. Setting the appropriate strategy to meet the objective
4. Involves the setting of the marketing tactics, aka. marketing mix, that will put the strategy into an actual plan of action for the firm.
5. Control and review.

I don't know whether I have over simplified things though, in the attempt of trying to remember it. I just find this easier to apply in the exam. Any one else confirm?
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helentate
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#225
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#225
(Original post by DevonHowell)
Contingency planning is where firms attempt to create a plan of action for what they would do incase an unexpected event ever occurs. So this is where the business is trying to be proactive and plan ahead.

Crisis management is sort of the opposite in this respect. It is where there is a team within the organisation who are in charge of how the business will respond to a crisis when it occurs. They are in charge of the decision making and try to minimise the impact of the crisis on the business when it happens.

I think that my conclusion to a question on this would be to implement an effective mix of the two. The ability to react to problems when they occur is beneficial because unexpected events are exactly that - unexpected. Therefore you cannot expect to plan for every single event that might occur. Also there will be many variables in terms of the impact of the crisis. It may not be possible to write a contingency plan for all events because it depends on the scale of the event. Having an effective team that will respond to events after they occur will enable the business to most effectively respond to the actual event. However being proactive will give the business time to think over the possible responses and enable them to decide upon a plan of action in plenty of time as well as being under less pressure. Hope this makes sense.
Thank you! this is very helpful!
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helentate
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#226
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#226
(Original post by DevonHowell)
Oh and Im not sure about that marketing model. I remember it as:
1. Objectives
2. Gathering of market research and other data
3. Setting the appropriate strategy to meet the objective
4. Involves the setting of the marketing tactics, aka. marketing mix, that will put the strategy into an actual plan of action for the firm.
5. Control and review.

I don't know whether I have over simplified things though, in the attempt of trying to remember it. I just find this easier to apply in the exam. Any one else confirm?
oritee thanks, its only points 3 and 4 of urs which are different to mine so they seem quite similar, lets see if anyone has anything different...x
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xxClarexx
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#227
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#227
what is benchmarking agen?
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stuarts10
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#228
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#228
yeah sounds about right ive got:

1. setting objectives
2. gathering data needed to decide on strategy
3. assessing alternative strategies and implementing favourite choice
4. planning and implementing the marketing mix in accordance with marketing startegy
5. controlling and reviewing outcome of marketing decisions

pretty much same as the others but do we need to use the marketing model in the unit 6 exam??
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stuarts10
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#229
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#229
(Original post by cobrien)
what is benchmarking agen?
Benchmarking is when you look at good things in other businesses and then try and learn from them.
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Jrizzle1
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#230
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#230
Benchmarking is looking at your performance in acordence to your competitors, in finance, prices, budgets, and now more and more are benchmarking there envirmental activities, but this is har dto do due to not being able to see what actual impact it is having.
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SophieA
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#231
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#231
I've just looked in my text book and it shows the marketing model like this:
1) Corporate objectives lead to the setting of marketing objectives
2) Gather data
3) Form hypothesis
4) Test the options
5) Control and review

The intention is to ensure the strategy decided upon is the most effective at achieving the marketing objectives.
It is the way to decide how to turn a marketing objective into a strategy.

So mine is a combinaton of the two already mentionned! I think they are both right they are just using different ways to describe the same thing.
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DevonHowell
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#232
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#232
(Original post by stuarts10)
yeah sounds about right ive got:

1. setting objectives
2. gathering data needed to decide on strategy
3. assessing alternative strategies and implementing favourite choice
4. planning and implementing the marketing mix in accordance with marketing startegy
5. controlling and reviewing outcome of marketing decisions

pretty much same as the others but do we need to use the marketing model in the unit 6 exam??
If you can find an appropriate use of it in the question. Maybequestion is about scientific decision making... I don't know. All i know is that this unit is supposed to be a synoptic paper but don't worry about that. Don't go trying to revise all the other units. If you remember something from another unit then don't hesitate to include in the answer because they like to see it.
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xxClarexx
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#233
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#233
so the business can kinda learn from their competitors mistakes in a way
thanks x
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SophieA
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#234
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#234
yup it helps a business to find the best practice and so they can avoid the mistakes their competitors have made.
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smithywill
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#235
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#235
If the EU comes up, what sorta questions can they ask??
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stuarts10
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#236
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#236
it will usually be things like the affect on the business if the UK join the EU or the euro
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aneilh
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#237
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#237
Can someone go over organisation cultures, and possible difficulties adapting to a change?
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SophieA
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#238
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#238
If the EU comes up it might be something to do with exchange rates or difference in work ethics etc
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GunnerMT
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#239
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#239
Does anyone have JAN 07 paper, on AQA they only seem to have the Mark Scheme available!

Thanks in advance
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SophieA
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#240
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#240
Some organisational cultures are:
The task culture- the organisational structure changes for each task (matrix management) - they are job or product orientated
Power Culture - dominated by a central figure - useful for quick decision making and will have a typical top down hierarchy (This is similar to the entrepreneurial culture - strong leader might be autocratic but is likely to be very charismatic) A lot of focus in this kind of organisations will be trying to please the boss!
Person Culture - not very common but it has a minimal structure and so rules and procedures are virtually non-existant There is alot of empowerment here as the organisation exists mainly to help with the administration for the "star-performer" individuals Advantages of this = quick decision making - don't consult many people
will work well when work is very specialised
and when rapid risk making decisions are required
Disadvantages of this = these specialised departments can become very divorced from the main organisation and it may be very difficlt to set targets for these individuals and set them budgets or control their spending therefore this is not very common within manufacturing companies or large-scale organisations.

Hope this helps a bit - these were just a few i could think of i'm sure there are more though!
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