Business Strategy and Technology
How important is knowledge of models?
April 28, 2021
The BST Workbook is chock full of models such as the Ansoff Matrix, Porter's Five Forces, SWOT and so on.
But just how often are marks available for knowledge of these models?
Other than SWOT and perhaps PESTEL (and maybe just about the Ansoff matrix), the models do not seem to appear as often as one might think, given the amount of content in the Workbook and probably also given the prominence in your tuition provider's notes.
Don't get us wrong, we are not saying that you shouldn't bother learning any models: we just mean that, statistically speaking, there are other areas of the syllabus that deserve just as much (and probably more) attention. For example, change management, risks and strategic development are all topics where the non-models marks dramatically exceed any models marks.
Similarly, getting good at the financial performance review type of question which is very common in BST is likely to lead to more marks gained.
So as our parents told us many times in our teenage years, don't spend all your time staring at models. 'Cos it ain't gonna happen, my friend.