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Block 3: Long-term Success (Quality and improvement (Key tools (Histogram,…
Block 3: Long-term Success
Time and innovation
Short-term
Clear and focused
Quick return
Medium-term
Relaunch of products
Dramatic recreation
New products
Higher degree of investment.
Greater risk
Long-term
Completely new vision
Commitment and sustainable investment
Cycles of innovation
Business cycle
Product life cycle
Product introduced
Growth
Maturity
Decline and replaced
Long waves of economics
Virtuous and vicious cycles
Sustainable innovation culture
Creative destruction
Possible negative and devastating results
Politics of business
Societal and organisational
Stakeholder analysis
Power vs. interest matrix
Political astuteness skills
Long-term success
Hartley and Fletcher
Personal
Interpersonal
Reading people and situations
Building alignment and alliances
Strategic direction and scanning
Value
Estimation of worth
Use value
Exchange value
Internal and external
Value agendas
Stakeholder desires
Che Guevara
Social media
Clicktivists
Social value proposition
Value player
Value-orientated workforce
Sustainable value culture
Long-term value
Shareholder value
Measuring issues
Financial reporting
Measurements important
Historical cost accounting
Fair value accounting
Shared Value
Societal challenges = business opportunities
Employment relations
Economic perspective
Macro level analysis
Micro level analysis
Legal perspective
Broader legal environment
Regulation perspective
4 types of negotiations
Between managers
Grievance handling
Bargaining
Group problem solving
Unions
Never members
Decline in memberships
Zero hour contracts
Challenges
Empowerment era
Empowered work places
Advantage for employers
How empowering is empowerment?
Can reverse pay gaps
A good work life balance
Productivity problems in Britain
Employee involvement
From employment to employability
War for talent
High CEO pay
Unequal work places
Industrial disputes
Work-related stress
High staff turnover
More with less
Change mangement
5 categories of people
Innovators
Early majority
Early adapters
Late majority
Laggards
Kotter
8 step process
Establish sense of urgency
Create guiding coalition
Develop vision and strategy
Communicate change vision
Empower employees
Generate short-term wins
Consolidate gains, produce change
Anchor new approaches
Change and transformation
Quality and improvement
Compares intended and actual outcome
Long-term viability
Issues with quality
Relations with customers
Reputation damage
Rise in costs
Six Sigma
Quality management
Customer perspective
Upper and lower expectations
Quality gaps model
Cost of quality
Aim for perfection
Prevention
Appraisal
Internal costs of defects
External cost of defects
Quality assurance
Quality control
Quality systems
Externally designed
Key tools
Histogram
Control chart
Scatter diagram
Pareto diagram
Checklist
Cause and effect diagram
Stratification
Importance- performance matrix
Operational risk
Unwanted/negative consequences
Resilience
Come from
Supply chain
Human capital
Technology
Customers
Organisational
Impact matrix
Likelihood matrix
Managing risk
Reduce impact
Reduce likelihood
Recover