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B207 - Block 3 Building Long Term Successes (Operational risk Risk…
B207 - Block 3 Building Long Term Successes
Cycles of innovation
Economic cycle :moneybag:
Business cycle
Schumpeter's innovation theory - creative destruction
New technology may lead to significant economic growth
Periods of expansion and recession
Product Life cycle
Growth
Maturity
Decline
Replaced
Vicious cycle
Generate negative outcome
Virtuous cycle
Generate positive outcome
Funding next cycle of innovation
Sustainability of Innovation
Medium term
Recreation of existing idea
Long term
New product
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Short term
Building on existing ideas
Operational risk
Risks
Mitigation
Reduce
Transfer
Avoid
Share
Accept
Assessment
Impact
Likelihood
Stages of a crisis
Crisis
Post crisis
Trigger event
Preconditions
Issues
Internally generated
About the organisation
May escalate into crisis
Crises
Intense scrutiny
Long lasting damage
Externally generated
Crisis Management models
Tybout & Roehm (2009)
Griffin (2009)
Leadership and Managment
Leadership
Vision
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New opportunities
Looking into the future
Displaying right behaviours
Strategy
Management
Set of processes
Planning
Budgeting
Measuring performance
Consistent quality
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Day to day
Quality and Improvement
Quality Management
Whole organisation responsible
Internal & external processes
Looking for improvements
Cost of quality :money_with_wings:
Prevention
Quality assurance
Quality control
Appraisal
Internal cost of defects
External costs of defect
ISO 9000
EFQM Excellence Model
Quality Management Tools
Histogram
Control chart
Scatter diagram
Pareto chart
Checklist
Cause & effect diagram
Stratification
Long term marketing
Internal marketing
Benefits
Focuses staff
Supports customer relationships
Coherent brand identity
Encourages staff contribution
Dis-benefits
Cost outweighing return
Unfair customers
Inconsistent service
Types of employees
Brand agnostics
Brand cynics
Brand champions
Brand saboteurs
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Relationship marketing
Benefits
Cost effective
Retain relationships
Promotes loyalty
Types of relationships
Seller maintained
Buyer maintained
Bilateral (B2B)
Lifecycle
Expansion
Commitment
Exploration
Dissolution
Awareness
Indicators
Behavioural
Economic
Psychological
Employment Relations
Inclusion
Empowerment
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Participation
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Flexible working
