| Explain the post-maturity stage of a business | The business faces stable sales (subject to decline) and market share after experiencing growth. Focus shifts to optimising operations and adapting to changes to ensure sustained profits. |
| List 5 characteristics of a post-mature business | Stable market position, slowed growth, market saturation, strong cash flow, efficient operations. |
| Explain the 'renewal' outcome of a post-mature business | Refers to revitalising strategies, such as innovation, product diversification, or entering new markets, aimed at reigniting growth and maintaining competitiveness. |
| Explain the 'steady state' outcome of a post-mature business | Phase where the business maintains consistent performance, market share, and profitability, focusing on optimising operations and sustaining its current position without significant growth or decline. |
| Explain the 'decline' outcome of a post-mature business | A gradual decrease in sales, profits, and market relevance due to factors such as saturation, changing customer preferences, leading to decreased competitiveness or business closure. |
| What are 4 internal factors that influence repositioning? | Shift in managment vision, resource allocation, change of organisational structure and innovation. |
| What are 4 operating factors that influence repositioning? | Customer feedback, supply chain efficiency, competitor actions, technological changes/ advancements. |
| What are 5 Macro Environmental factors that influence repositioning? | Economic conditions, socio-economic trends, political instabilities, environmental concerns, global market dynamic. |
| What is the difference between rebranding and repositioning for a business? | Rebranding involves changing the visual identity and perception of a business, while repositioning focuses on altering the target market or competitive positioning to increase growth again in the post-maturity stage. |
| Explain 'voluntary exit options'. | Selling assets, downsising, or merging with parteners. (Occurs when a business decides to close the business or cut down). |
| Explain 'involuntary exit options'. | Bankruptcy, leagl issues and non-complience with legalities. (Occurs when a business is forced into closure) |
| What 6 factors can influence repositioning? | Sustainability, corporate social responsibility, ethical standards, mergers/acquisitions, public relations, and crisis management |
| What are the key business functions for repositioning in a 'steady state'? | Incremental innovation, cost efficiency, and customer retention to maintain market presence, |
| What are the key business functions for repositioning in a 'steady state'? | Prioritise diversification, cost reduction, and strategic partnerships to grow. |
| Define redundancy. | The elimination of jobs or roles within a business due to factors like restructuring, automation, or cost-cutting. |
| Explain emerging technologies in a business | Integrating innovative advancements like AI, blockchain, and IoT to enhance operations, streamline processes, improve customer experiences, and gain competitive advantages |
| Explain the relationship between public relations and ethical practices in crisis managment. | Involves transparent communication to rebuild trust and reputation while upholding the principles of honesty, accountability, and social responsibility. |
| Define what is meant by 'crisis managment'. | Addressing and mitigating sudden and disruptive events that have the potential to negatively impact a business's operations, reputation, and stakeholders. |
