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Building long-term success (Changing environment (It is responsible to…
Building long-term success
Political context
Two main perspectives
societal & organisational perspective
Managing the Political context
How to set out the political astuteness
Through Personal skills, Interpersonal skills, Reading people and situations, Building alignment and Alliances, Strategic direction and Scanning.
Changing environment
It is responsible to increase corporate social activism
Social media helps to change the environment
Making corporate activities more transparent
Transparency serves as a check on puffery
Teleworking
Speed and quality
sacrificed when we work from home
Change management
Effectively organise and implement change
Innovation requires institutional support
An on-going organisational commitment to encouraging these improvements and putting them in place
The importance of quality
Quality Issues
Can adversely affect a business’s relationship with customers.
Cost associated with quality
prevention costs, appraisal costs, internal & external costs of defects.
Managing quality
Responsibility of the whole organisation
Internal processes
Looking for improvements at each stage of the process
The seven key tools to controlling quality
Part of a process to control quality
Histogram, Control chart, Scatter diagram, Pareto chart, checklist, Cause and effect diagram, stratification
Relationship marketing
Benefits
Cost-effective
Retaining
Foster loyalty and repeat purchasing
Customer satisfaction
Internal marketing
Customer oriented behaviour
Benefits
It helps to promote a coherent brand identity
It provides a focus for staff’s diverse organisational roles and Activities
It supports relationship building with customers.
Risks
Unfair customer
Satisfaction and productivity
Crisis management
Damage the brand
External Crises through digital media scandals
brand sabotage by staff or consumers
Measuring Success
Monitoring and evaluating the marketing efforts
Method of evaluation
profitability, Sales, Gross margin, Awareness, Market Share, Number of new products, Relative Price, Customer dissatisfaction & satisfaction
Identifying leadership
Characteristic & skills as person
Results, operate, purpose and process
Understanding of their organisation and the people within it
Accounting for Value
Crating shareholder value
Measuring the issues
Measurement in financial reporting
Historical cost, Deprival value, Fair value