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Hi,
I have been practisicing lots of past questions but seem to rarely use the right model!!! I know that a different model isn’t a total disaster and you will gain marks but I want to give best chance of getting through. Are there any indications to what model to use that might help me?
I also find the questions quite ambiguous and feel they are difficult to actually answer, any advice? I feel like they could make the question a lot simpler!
Thanks
Jen
If a specific model is not specified then you have to try to choose models that will yield information. In general:
If asked to assess/appraise a company’s position, try SWOT. Include financial appraisal
If asked to assess environment use PESTEL. 5 forces particularly relevant to competitive environment.
Resources and competences = M words (money, management etc.)You can use PESTEL, 5 forces and M words to generate SWOT ideas.
Ansoff is useful for advising on what could be done (eg to increase profits).
BCG needs several products/companies with market growth rates and market shares set out.
As regards you second point, the examiner does not set out to be ambiguous. Nearly all the information you need is in the scenario; details can be used as ammunition when answering questions.
HTH
Thank you very much! Hope I didnt sound rude about examiner! I am also sitting p5 and have similar problems as find questions a little hard to see point. I was lucky enough to have the last p5 examiner for tuition for that and kept forgetting he wrote some questions we did.
Thanks for help, very appreciated!!
Jen
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