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Brief case studies in alphabetical order Worksheets Applied Business GCSE GCSE Business Studies GNVQ Intermediate AVCE AS Business A2 Business Scottish Business management standard Scottish Business management Intermediate Scottish Business management Higher Scottish Business management advanced higher Worksheet answers Lesson plans Sources and uses of finance Stakeholders Market Planning Segmentation Decision making Product life cycle Lesson plan answers ACCA BT Dixons Gillette Hazelwood Sandwiches Kelloggs 53 54 55 56 57 58 59-61 Coca-Cola Vodafone McDonalds Argos Kraft BG Group Nissan Cadbury’s MFI United airlines Competition The marketing mix Franchising Business culture Budgeting Investment appraisal Operations Social responsibility SWOT analysis External factors 38 39 40 41 42 43 44 45 46 47 48-52 1-37
Abbey is a bank. In the same way that a shop sells goods, Abbey sells financial products. These are products such as bank accounts, mortgages and credit cards. Abbey is part of the financial services industry. Abbey’s old name was Abbey National.
Abbey found the following: ◗ Its main STRENGTH was its expert knowledge of finance. This meant that it should focus on this area. ◗ Its main WEAKNESS was its size. As only the 6th largest bank, it could not offer the same range of products as bigger banks. This meant that it should offer a simpler range. ◗ The main OPPORTUNITY was to provide simpler products which customers would better understand. ◗ The main THREAT was from other banks, who might want to take over Abbey, so it needed to become stronger. As a result of this, and other research, Abbey National decided to launch a range of products that was easier to understand. It decided to make things simpler by changing: ◗ Its name – to Abbey. ◗ Its product range into three simple types of mortgage (a long term loan to buy a house or other property) and savings accounts. ◗ Its communications to customers – making its entire letters, brochures and so on clearer.
The financial services industry sells hundreds of products from many types of business. Abbey National offered a wide range of products but found it was making a loss on some of them. In 2003 it carried out some market research, to find out why it was making these losses and how it could improve.
Part of this market research was to carry out a SWOT analysis. This meant trying to find out what it was really good at, and what might be holding it back. SWOT stands for: ◗ Strengths ◗ Weaknesses ◗ Opportunities ◗ Threats. Strengths and Weaknesses are internal – Abbey can control these. Opportunities and Threats are external. This means that they are outside Abbey’s control....
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