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Block 3: building long term success (Value players (Stake holders (b207…
Block 3: building long term success
Long & Short term success
Short
Quick return
Extension of existing product
Immediate enviroment
Long
New offering
Cycles of innovation
Market economy
Expansion & Recession
Product life cycle
Time sensitive
Drive economic growth
Virtuous V. Vicious
Commitment
High risk & reward
Investment
Fostering sustainability
New market resources or innovations
Value players
HRM
Creation of value
Innovation
Increases value
Measured value
Dependent on Context
Stake holders
Share holders
Customers
Authorities
Suppliers
Employees
Different value time scales
Investors
Risk management
Operational management
Assess impact
Risk to operations
Assess likely-hood
Mitigate
Identify hazards
Learn
React
Sources of risk
Product/service design failure
Customer failure
Operation failures
Enviromental
Supply failure
Mitigate
Share
Transfer
Reduce
Avoid
Take
Tyboutand Roehm, (2009) A four-step frame work for managing scandals (The Open University, 2017, p.125)
Griffin(2008) proposed ten recommendations for best practice in managing a crisis (The Open University, 2017,p125)
