Block 3 - Building long-term success

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Block 3 - Building long-term success by Mind Map: Block 3 - Building long-term success

1. Time and Innovation

1.1. Business incubators

1.1.1. Start-up and early stage businesses through the provision of facilities, mentoring and coaching, training, networking and seed capital financing.

1.2. Start-up accelerators

1.2.1. Focus on moving technology-based firms rapidly from establishment to early stage venture funding and growth.

2. Planning for short, medium and long-term success

2.1. Short Term

2.1.1. Extension of existing production or ideas

2.2. Medium Term

2.2.1. Relaunch and dramatic recreation of a product or process.

2.3. Long Term

2.3.1. New visions for ways of doing things or a totally fresh type of product.

3. Cycles of innovation

3.1. Business Cycle

3.1.1. Market Economy Connected periods of expansion and then recession

3.1.2. Long waves of economics. New technology or product can create significant economic growth.

3.1.3. Product Life cycle New product introduced to the market. Period of gradual or rapid growth. Reaches maturity consumed, not attracting new buyers or uses. Decline in which replaced by a new product.

3.2. Virtuous cycles - cycle produces a good outcome

3.3. Vicious cycles - generates a negative outcome

4. Politics of business and management

4.1. Political contexts

4.1.1. Institutions, values/interests and power

4.2. Societal perspective - political context existing in the world, Europe, country ,region, city

4.3. Organisational perspective - inside organisation, department, office outside business environment

4.4. Stakeholder analysis

4.4.1. Power vs Interest matrix

4.5. Political astuteness framework

4.5.1. Personal skills, Interpersonal skills, Reading people and situations, Building alignment and alliances, Strategic direction and scanning

4.6. Political astuteness skills

4.6.1. Engage in relationships with other individuals or organisations

5. Organisation and value

5.1. Innovation

5.1.1. Innovation value chain

6. Employment relations

6.1. Economic perspective

6.1.1. Macro-economic level analysis

6.1.2. Micro-economic level analysis

6.2. Types of negotiation

6.2.1. Between managers

6.2.2. Grievance handling

6.2.3. Bargaining

6.2.4. Group problem solving

6.3. Employee inclusion

6.4. Employee participation

6.5. Legal prespective

6.6. Empowerment

6.6.1. Flexible working

7. Accounting for values

7.1. Shareholder value

7.2. Measuring issues

7.2.1. Financial statements

7.2.2. Balance sheet

7.2.3. Income statement

7.2.4. Accrual accounting Historical cost; deprival value and fair value

7.3. Creating shared value

8. Quality and improvement

8.1. Six Sigma

8.2. Quality assurance (QA)

8.3. Quality control (QC)

8.4. Seven key tools

8.4.1. Histogram

8.4.2. Control chart

8.4.3. Scatter diagram

8.4.4. Pareto chart

8.4.5. Checklist

8.4.6. Cause and effect diagram

8.4.7. Stratification

8.5. Perceptions-based quality models

8.5.1. Zone of tolerance Expectation of service level Adequate Desired

8.6. Quality gaps model

8.6.1. Exploring customer satisfaction

8.7. Dimensions of service quality

8.7.1. Tangibles

8.7.2. Reliability

8.7.3. Responsiveness

8.7.4. Assurance

8.7.5. Empathy

8.8. Strategic improvement

8.8.1. The importance-performance matrix Judge the importance of performance measures to customers Judge the performance against competitors Match performance against characteristics Develop improvement plans

9. Operational risk

9.1. Risk terminology

9.1.1. Hazard

9.1.2. Impact

9.1.3. Likelihood

9.1.4. Risk

9.2. Potential sources of operational risk

9.2.1. Supply failures

9.2.2. Failures within the operation or process

9.2.3. Product/service design failures

9.2.4. Customer failures

9.2.5. Environmental disruption

9.3. Risk assessment matrix

9.3.1. Likelihood Rare Unlikely Likely Almost certain

9.3.2. Impact Negligible Minor Major Severe

9.4. Operational resilience

9.4.1. Operational risk assessment Balance cost and effort of mitigating actions and savings they are expected to bring Risk mitigating strategies Avoid Reduce Transfer Share Take

10. Marketing in the long-term

10.1. Relationship marketing

10.1.1. Customer loyalty

10.1.2. Customer value and customer satisfaction

10.1.3. Commitment, trust, customer orientation and communication

10.1.4. Service-dominant logic

10.1.5. Types of relationships Seller-maintained Buyer-maintained Bilatera

10.1.6. Marketing loyalty ladder Partner Advocate Supporter Client Purchaser Prospect

10.1.7. Life cycle Awareness Exploration Expansion Commitment Dissolution Indicators Psychological Behavioural Economic

10.1.8. Relationship states Transactional Transitional Communal Damaged Migrate mechanisms Exploration Endowment Neglect Betrayal Recovery Relationship constructs Commitment Trust Norms Dependence

10.2. Internal marketing

10.2.1. Internal marketing communication

10.2.2. Unfair customers Verbal abusers Blamers Rule breakers Rule makers Opportunists Return aholics

10.2.3. Types of employees Brand champions Brand agnostics Brand cynics Brand saboteurs

11. Leadership and management

11.1. Leadership

11.1.1. Taking organisations into the future, finding opportunities

11.1.2. Motivational theories Herzberg’s two factor theory of motivation Presence of motivation Absence of hygiene Maslow’s hierarchy of needs Physiological Safety & Security Love/belonging Esteem Self actualisation

11.2. Management

11.2.1. Processes

11.2.2. Planning

11.2.3. Budgeting

11.2.4. Structuring jobs

11.2.5. Staffing jobs

11.2.6. Measuring preformance

11.2.7. Problem solving