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Block 3: Building long term success - Coggle Diagram
Block 3: Building long term success
Business effects on stake holders
Stake holder analysis
aims to understand main stakeholders and characteristics
dynamic assessment, factors evolve
internal/external enviornment
Power versus interest matrix
key players
keep satisfied
keep informed
minimal effort
determine stakeholders interests and beliefs
employment relations
employee inclusion
employee participation
ways employers/employees relate
industrial action
reduction in collective bargaining
not just for complaining
innovate in the ways they interact with businesses
direct interaction
perspectives
economic perspectives
legal perspectives
regulation perspective
employee empowerment
flexible working
encourage work life balance
organisational involvement methods
feedback systems
specific training
idea capturing scheme
team work
flexible job description
Operational management
Quality
control tools
historgram
Scatter diagram
pareto chart
checklist
stratisification
control chart
cause/effect diagram
six sigmas
customer voice
flow
value stream mapping
seven wastes
5S
DMAIC
importance-performance matrix
excess
appropriate
improve
urgent action
Operational risk
components
hazard - source of risk
impact - effect of risk
likelihood - chance of risk
Risk - chances of harm being done
Sources of operational risk
supply failure
failure within processes
product failure
environmental disruption
Assessing risk
identify hazard
judge impact
determine likelhood
impact+likelihood = measure of risk
impact/likelihood matrix
risk mitigation
ericsson risk strategies
Avoid
Reduce
transfer
share
take
Marketing
internal marketing
benefits
enable staff feedback
helps establish brand identity
provides focus for staff departments
Relationship marketing
Benefits
less price sensitivity
Greater profitability
increased customer understanding
lifetime value
total value of purchases over customer life time
relationship types
seller maintained
buyer maintained
bi-liateral
Service-dominant logic
Value created between both parties
value determined by beneficiary
Baines life cycle
psychological indicators
behavioural indicators
economic indicators