Business Case Studies: Edition 9
- explain the difference between a product-led and a customer-led approach to business
- explain the importance of ongoing market research for identifying customer requirements and thereby enabling an organisation to deliver consumer focused benefits
- give examples of ways in which Abbey has simplified its communications with customers.
Customer-led innovation in a competitive market
- understand the nature and purpose of accounting
- appreciate the role of professional accountants in managing information and using knowledge for decision-taking purposes
- understand the contribution made by accounting standards and a code of ethics towards providing a true and fair view of business performance.
The contribution of accountants to sound, ethical business practice
- identify key elements involved in setting up a commercial website
- explain how using electronic media helps organisations to meet customer needs
- understand how the Internet can be used to support customers.
Meeting customers' needs through the Internet
- understand the cultural change brought about at Argos to boost sales
- be able to identify the 7 Ps of the extended marketing mix
- understand the changes made to the marketing mix at Argos
Re-focussing a company's culture and marketing mix
- understand the importance of examining detailed data in making investment decisions
- know how to set out choices involved in decision making
- understand how a calculation involving an investment decision is made.
Investing in natural gas: drilling down into the risks
- explain the link between rationalisation and economies of scale
- explain the meaning and value of market segmentation.
Honour the past ... invent the future
- understand why it is important to establish standards
- explain the meaning of standard, standardization, quality and quality management
- outline the role of standardization in ensuring the safety of users of products and services.
Standardization and quality management
- describe the moral principles underpinning the pursuit of sustainable development
- describe some benefits of sustainability
- identify factors that are important to stakeholders.
Sustainability, stakeholders and profits
- understand what is meant by ethical behaviour within business
- explain the possible broad-ranging benefits of ethical behaviour
- describe the ways in which Cadbury Schweppes behaves ethically towards its stakeholders.
Ethical business practices
- understand what is meant by a product range
- know the meaning of marketing and its importance to an organisation
- appreciate why market research should shape the product range.
Using market research to develop a product range
- understand the nature of competitive markets
- appreciate how the external environment should provide the basis for planning strategy
- appreciate how sustainability creates opportunities for businesses.
Competitive advantage through sustainable product development in construction
- explain what is meant by B2B (Business to Business) marketing
- distinguish between internal and external customers
- show how online connectivity confers competitive advantage in a fast moving industry.
Online connectivity to meet stakeholder needs
- differentiate between Ansoff’s four growth strategies
- show why market research was important to Dixons in choosing strategies
- understand how a SLEPT analysis helps to inform strategic decision making.
Pursuing a growth strategy
- understand why businesses need ongoing investment in plant, people and products
- identify three main ways of appraising/evaluating investment opportunities
- describe ways in which Hazlewood Sandwiches has invested in its employees.
Going for growth by investing in people, products and plant
- distinguish between internal and external communications
- understand what is meant by customer focus
- explain how the Inland Revenue uses market research to inform its new way of working.
Getting the message across - the importance of good communications
- appreciate the need to make decisions that help to manage, maintain and develop the value of brands
- appreciate the importance of market research processes and the questions that market researchers seek to answer
- link processes of market research with a range of products that closely meet consumers’ needs.
Using new product development to grow a brand
- define the term budget and explain the purpose of budgeting
- outline the importance of identifying major variances and taking remedial actions
- list the advantages and disadvantages of budgeting.
Budgeting and strategy
- identify different activities undertaken by commercial property companies such as Land Securities
- understand the meaning and benefits of urban regeneration
- appreciate the importance of external influences on a firm’s activities.
Regeneration: meeting needs in a changing environment
- explain the basic SWOT components involved at the time of establishing the PDS
- outline key strategic elements of the PDS launch: location, customer service, recruitment, IT, and quality.
- distinguish between criminal law and civil law.
Managing change: a new approach to legal services
- understand why businesses need and value insurance cover
- understand Lloyd’s role in insurance
- understand the concept of a market.
A truly global market
- understand the concept of franchising
- understand the advantages to the franchisee
- understand the advantages to the franchisor.
Franchising and entrepreneurship
- distinguish between short term and long term assets
- understand the need for a strategy for growth
- identify some indicators of financial success.
Growth through well-planned investment
- know the basic economic problem and how it is solved
- understand the factors of production and opportunity cost
- describe what is meant by sustainability.
Sustainability and water
- explain why continuous flow methods are appropriate to car manufacturing
- show how Total Quality Management (TQM) is a customer focused approach to production
- describe examples of just-in-time manufacturing and Kaizen.
Planning for quality and productivity
- understand the sources of consumer power
- understand how the forces of demand and supply work to determine market prices
- describe how the OFT uses its powers to promote fair competition.
Making markets work well with customers
- understand what is meant by business to business activities
- understand the difference between commodity and added value products/services
- understand the link between mission, the market and strategy.
Strategy, competitive advantage and the promotional mix
- define the term competitive advantage
- understand the importance of differentiation as a competitive strategy
- distinguish between private and public sector customers.
Meeting customer needs for competitive advantage
- identify how the business maintains sustained financial growth through acquisition and development of the existing business
- understand how a customer service programme can help to improve performance and ensure long term financial stability
- explain the key components of the marketing mix and how implementation of the mix will enhance customer satisfaction.
Meeting customers' needs
- explain the benefits for the employer and employee of working together harmoniously for the common good
- outline the work of UNISON in protecting public sector workers’ rights
- understand that union membership is a hard-won right that employees should exercise.
Organisations and unions
- appreciate the complexity of a typical organisation’s business environment
- understand the importance of using marketing activities to match the competitive position of an organisation with the environment it serves
- understand the various elements of a SLEPT analysis.
Responding to a changing external business environment