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B207 Shaping Business Opportunities (Big ideas in organisations…
B207 Shaping Business Opportunities
Big ideas in organisations
External factors
Legislation
Social factors e.g life expectancy
Financial cutbacks
Government and political changes
Choice
Customers having choice
Making their decisions
Unrealistic expectations
Competition
Innovation enhancements
High standards
Service checks
Technology
Improve quality
Constant change
Change
Expectations
Funding
Evaluating
Reports
Feedback
Governing bodies
Satisfaction surveys
Inspections
Long term success
Innovation
Risks
Estimate likelyhood
Risk assessment matrix
Risk mitigating strategies
Quality
Quality tools e.g histogram, pareto chart, checklist, cause and effect
Quality techniques e.g six sigma
Quality management
Skills required
Political astuteness skills
Leadership skills
Organisation
Employment relations
Good work life balance
Empower staff
Negotiations
Kottler (1996) eight step process
Internal marketing
Staff identify with brand
Moments of truth
Critical service interactions
Brand champions, agnostics, cynics
Value player
Change existing norms
Seek to improve processes
Update internal value
Stakeholders
Customers
Customer service
Loyalty
Meeting needs
Business to Business transactions
Loyalty and trust
Relationship building
Shared Value
Solving problems for customers
Maximising competitive value
Business opportunities in social problems
Environmental and economic problems
Gain competitive advantage
Competing in a global context
Marketing
Micro enviroment
Brand awareness
Macro environment
Customisation
Brand name
Suggestive
Arbitrary
Descriptive
Coined
Brand identity
GPS technology
Brand equity
International operations
Trade relations
Supply chain management
Vertically integrated supply chains
Outsourcing
Multi national corporations (MNC)
Input-output model
Offshoring
Different government policies
Ethics
Exploitation
Poor working conditions
Different tastes in cultures
Low wage countries
Corporate social responsibility
Political differences
Product preferences
Government role
Different incomes
Exporting of consumerism
Modern day slavery
High wage countries
Environmental benefits
Finance
World bank
Like a bank
Fund projects
Tax rates
Different in individual countries
Arms length transactions
Trading legally
Same as open market
Fair
Fluctuation
Transfer pricing
International monetary fund
Helps countries in trouble
Sudden changes to exchange rate
Global imblalances