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Block 3 - Building Long Term Success (Creating value (Accounting for…
Block 3 - Building Long Term Success
Time and innovation
Short, medium & long term
Time sensitive
Cycles of innovation
Business cycle
Product life cycle
Waves of economics
Vicious & virtuous cycles
Sustainable innovation culture
Disruption
Challenge old & embrace new concepts
Create stable environment
Creating value
Accounting for values
Historical accounting (widely used)
Deprival value
Fair Value
Shareholder value (conflicting)
Long-term thinking required.
CSV
More than CSR
Benefits both society & company
Built into strategy - long-term
Relationship Marketing
Long-term relationships
B2B relationships
Internal relationships (staff)
Monitoring marketing activities
Measuring? Sales, awareness, profit, brand activity ...
Feedback
Leadership
Leadership vs Management
Leadership traits
Empowers
Looks outward
Motivates
Setting direction & focus
Creating vision & goals
What? How? Why? Golden Circle.
Creating future
Training & development
Combined effort
Different forms of training
Both person & organisation
Theories
Heizelberg's 2 factor theory
Maslow's hierarchy of needs
Value
Strategies to create value
Organisational culture
Individual entrepreneurial initiative
HRM
Employment relations crucial to success
Challenges - unpredictable
Empowerment age
Employee mobility, job security, declining wages
Flexi working & work/life balance
Subjective concept
Operational Risk
Sources of risk
Supply failure
Operations process failure
Design failure
Customer failure
Assessing & quantifying
Identify
Impact?
Likelihood
Measures to avoid
Risk assessment
Operations resiliance
Ability to respond/withstand
Processes
Measures to determine?
Change Management
Involve individuals & organisations
Stability & consistency required
Use past to plan future
Politics of Business
Political context
Analysing key players
How influence?
Develop strategies to interact?
Stakeholder analysis
Organisational power dynamics
Competing values & interests
Analysing political games
Political awareness
Quality
Need to identify gaps in quality
Quality gaps model
High costs to neglect
Various models for controlling / managing quality
Need for continuous improvement