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Chart Increasing

Unit 1 - Introduction To Business Management - QB

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Briefcase

Unit 2 - Human Resource Management - QB

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Money Bag

Unit 3 - Finance & accounts - QB

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Direct Hit

Unit 4 - Marketing - QB

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Factory

Unit 5 - Operations management - QB

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Bar-Chart

Unit 6 - Assessment

Origin: Igor Ansoff, 1957. It&#39;s like a compass for businesses to navigate their growth journey!

<ul>
	<li>🎯 Goal: Boost sales of current products in the same market.</li>
	<li>🍔 Real-world example: Netflix! Ever heard of &quot;The Crown&quot; or &quot;The Queen&rsquo;s Gambit&quot;? Netflix aired these shows to make viewers stick around, aka. building brand loyalty.</li>
</ul>

🔑 Success Factors

<ul>
	<li>Market growth potential (Is the pie growing?)</li>
	<li>Strength of customer loyalty (How sticky are your customers?)</li>
	<li>The muscle of competitors (Can you out-flex them?)</li>
</ul>

💭 Remember: Safest growth option, but it&#39;s like trying to get a bigger slice of the same pie. Yummy, but limited!

<ul>
	<li>🎯 Goal: Find fresh markets or segments!</li>
</ul>

🍔 Real-world blunders

<ul>
	<li>Starbucks in Australia? More like Star-bust! 😅</li>
	<li>Walmart in Germany? Germans said, &quot;Nein danke!&quot; They loved their own superstores too much.</li>
</ul>

🔑 Risk-Reduction Tactics

<ul>
	<li>Top-notch market research (Know before you go!)</li>
	<li>Local knowledge (When in Rome, ask the Romans!)</li>
	<li>Solid distribution channels (Can you get your goodies to the customers?)</li>
</ul>

💭 Remember: Riskier than market penetration. It&#39;s like opening a new bakery in an unfamiliar neighborhood.

<ul>
	<li>🎯 Goal: Spice up the menu with new or upgraded products for existing markets.</li>
	<li>🍔 Real-world example: Apple&#39;s iPad family - from iPad to iPad Mini! Also, when Singapore Airlines launched &quot;Scoot&quot; to scoot away Aussie competition.</li>
</ul>

🔑 Success Hacks

<ul>
	<li>Bulletproof market research (Are folks craving apple pies or chocolate cakes?)</li>
	<li>A powerhouse R&amp;D team (Your baking wizards!)</li>
	<li>First-mover advantage (Be the FIRST to offer that raspberry-glazed donut!)</li>
</ul>

💭 Remember: It&#39;s about innovating and upgrading. Keep the classics but add some zing to the menu!

<ul>
	<li>🎯 Goal: Boldly introducing a new product in a new market.</li>
</ul>

🍔 Real-world Rollercoaster

<ul>
	<li>Apple 🍏: Jumped from computers to jamming in the music world, then called folks with iPhones. Touchdown!</li>
	<li>Microsoft &amp; Nokia 📞: MS bought Nokia in 2013. By 2015? 😢 Big oopsie! A costly $7.3 billion write-off.</li>
</ul>

🔑 Safety Gear for this Wild Ride

<ul>
	<li>Ace-level market research (Know the terrain!)</li>
	<li>Due diligence tests:
	<ul>
		<li>Check the market&#39;s appeal</li>
		<li>Cost-check (Can you afford the ticket?)</li>
	</ul>
	</li>
	<li>Make sure your brand is known (Your rep travels with you!)</li>
	<li>Collaborate with experienced partners (Find a local guide!)</li>
</ul>

💭 Remember: It&#39;s the riskiest! Like opening a sushi stand in a town that&#39;s never seen fish.

Growth isn&#39;t just about making bigger bucks. It&#39;s a strategic dance of understanding markets, products, and risks. With the Ansoff Matrix, your business can twirl gracefully to the tunes of success! 💃🕺🌍🚀

Unit 1 - Introduction To Business Management - QB

Unlocking Growth: Dive Deep Into Ansoff Matrix Strategies

Table of content

Market penetration

Market development

Unlock the Full Content!

Unit 1 - Introduction To Business Management - QB

Unlocking Growth: Dive Deep Into Ansoff Matrix Strategies

Table of content

Market penetration

Market development

Unlock the Full Content!