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Block 3: Long-term Success. (Innovation and development (Economic waves…
Block 3: Long-term Success.
Innovation and development
Economic waves and market disruption
Employment opportunities
Societal changes
New educational needs
New technologies and ethical concerns
Cost of new technology and acceptance by society
Virtuous cycle needs to be engaged
Green energy costs, feed in tariff reductions and co2 emmissions
Virtuous and vicious cycles
Feedback and quality control
S-D Logic
Six Sigma
Loyalty Ladder
listening to consumers
Economic recovery and growth
Government Support
Investor support
Start up incubators
Marketing
Measuring success
Profit and profitability
Sales
Gross profit margin
Brand identity and awareness
Market share
Number of products
New product development
Investments in product line
Cost to the consumer
Customer feedback
Satisfaction
Dissatisfaction
Availability
regional changes for the local consumer
Relationship marketing
Relationships with customers, suppliers and all other stakeholders
Customer retention
better to keep old customers and have replace them
Constant profit from customers who stay
Loyalty
Rewards and incentives
Internal marketing
Benefits
Coherent brand identity for all within and external to the business
Focus for all members of staff
Helps with relationship building with all stakeholders and provides a focal point
Enables customer orientation
Feedback and quality
Management and leadership
They are different
Leaders are not those at the very top of a buiness
Leadership are not just a set of qualities
Managers control, manages, looks inward and exerts authority.
Leaders create, focus on the future, they do the right things, people orientated, they empower, trust and develop.
Leaders aren't always managers, they can be at any level of the business in any job.
Leaders don't always possess any power, they use influence.
Managers are not always leaders
Leaders need followers, there is a two way path, those who lead and others who follow
Followership
When a group of employee's are placed together, they will often find a leader among themselves