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Shaping Business Opportunities (Globalisation (Implications for business…
Shaping Business Opportunities
Innovation in business
Foster culture within
Avoid conflict between functions
Holistic approach
Multi-functional
Integrate in normal procedures/processes
Requires building, planning, control
Change Management
"Diffusion of Innovation" (Everett Rogers 1962)
Aid or hinder
Technological
Social
Globalisation
Economic
BIG ideas
New products/services
New inventions
NPD, new gen product, breakthrough idea, incremental improvement
New processes
TIME
Short/ medium/ long term
Cycles
Product Life Cycle
Business Cycle
Waves of Economics
Organisational Context
Global/local context
External/ Internal
STEEPLE
Political context
Political astuteness
Globalisation
Crossvergence
Divergence
Convergence
Shrinking world!
Communications / technology
Supply chain
Integration
Implications for business functions
HRM
Multicultural / national workforce, attracting talent
Operations
Supply chain (greater choice), offshoring, re-shoring, HO location (where?)
Finance
reporting, varying rules, IFRS standards
Marketing
far reaching, wider audience, differing needs/tastes, choice of platforms
Quality
Link with innovation
Estimation of worth
Difficult to define & measure
Create value orientated workplace
Individual entrepreneurial initative
Branding
Global brands
International brands
Local brands
Definition, name, equity, identity, reputation
GPS Marketing
Leadership vs Management
Leadership
Future outlook
Seeking & opportunities
Visionary
Empowerment
Motivation
Management
Planning
Budgets
Staffing
Problems solving
Quality
Managerment
Models
Quality Gaps Model
Importance Performance Sale
Zone of Tolerance
Quality control
Quality assurance
Long term viability
Broad definitiion
Operations
Efficient delivery of goods/services
Input - process - output
4 stage model (Hayes & Wheelwright, 1984)
Markting
Relationshipmarketing
Long Term focus
Interface between customers / competition
Communicating the marketing mix
Feed in innovation
Link with vision & mission
Market research
Competitive advantage
Finance
Traditional forms
Overdrafts/bank finance
Debt factoring
Working capital management
Retained earnings
Leasing
Equity
Venture capital / private equity
New forms
Crowdfunding
Seeding entrepreneurship
Microfinance
Peer to peer innovations