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. Cycles of innovation

1.1. Business Cycle

1.1.1. Market Economy Connected periods of expansion and then recession

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

1.1.3. 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.

1.2. Virtuous cycles - cycle produces a good outcome

1.3. Vicious cycles - generates a negative outcome

2. Politics of business and management

2.1. Political contexts

2.1.1. Institutions, values/interests and power

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

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

2.4. Stakeholder analysis

2.4.1. Power vs Interest matrix

2.5. Political astuteness framework

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

2.6. Political astuteness skills

2.6.1. Engage in relationships with other individuals or organisations

3. Organisation and value

3.1. Innovation

3.1.1. Innovation value chain

4. Accounting for values

4.1. Shareholder value

4.2. Measuring issues

4.2.1. Financial statements

4.2.2. Balance sheet

4.2.3. Income statement

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

4.3. Creating shared value

5. Operational risk

5.1. Risk terminology

5.1.1. Hazard

5.1.2. Impact

5.1.3. Likelihood

5.1.4. Risk

5.2. Potential sources of operational risk

5.2.1. Supply failures

5.2.2. Failures within the operation or process

5.2.3. Product/service design failures

5.2.4. Customer failures

5.2.5. Environmental disruption

5.3. Risk assessment matrix

5.3.1. Likelihood Rare Unlikely Likely Almost certain

5.3.2. Impact Negligible Minor Major Severe

5.4. Operational resilience

5.4.1. 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

6. Leadership and management

6.1. Leadership

6.1.1. Taking organisations into the future, finding opportunities

6.1.2. 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

6.2. Management

6.2.1. Processes

6.2.2. Planning

6.2.3. Budgeting

6.2.4. Structuring jobs

6.2.5. Staffing jobs

6.2.6. Measuring preformance

6.2.7. Problem solving

7. Time and Innovation

7.1. Business incubators

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

7.2. Start-up accelerators

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

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

8.1. Short Term

8.1.1. Extension of existing production or ideas

8.2. Medium Term

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

8.3. Long Term

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

9. Employment relations

9.1. Economic perspective

9.1.1. Macro-economic level analysis

9.1.2. Micro-economic level analysis

9.2. Types of negotiation

9.2.1. Between managers

9.2.2. Grievance handling

9.2.3. Bargaining

9.2.4. Group problem solving

9.3. Employee inclusion

9.4. Employee participation

9.5. Legal prespective

9.6. Empowerment

9.6.1. Flexible working

10. Quality and improvement

10.1. Six Sigma

10.2. Quality assurance (QA)

10.3. Quality control (QC)

10.4. Seven key tools

10.4.1. Histogram

10.4.2. Control chart

10.4.3. Scatter diagram

10.4.4. Pareto chart

10.4.5. Checklist

10.4.6. Cause and effect diagram

10.4.7. Stratification

10.5. Perceptions-based quality models

10.5.1. Zone of tolerance Expectation of service level Adequate Desired

10.6. Quality gaps model

10.6.1. Exploring customer satisfaction

10.7. Dimensions of service quality

10.7.1. Tangibles

10.7.2. Reliability

10.7.3. Responsiveness

10.7.4. Assurance

10.7.5. Empathy

10.8. Strategic improvement

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

11. Marketing in the long-term

11.1. Relationship marketing

11.1.1. Customer loyalty

11.1.2. Customer value and customer satisfaction

11.1.3. Commitment, trust, customer orientation and communication

11.1.4. Service-dominant logic

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

11.1.6. Marketing loyalty ladder Partner Advocate Supporter Client Purchaser Prospect

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

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

11.2. Internal marketing

11.2.1. Internal marketing communication

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

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