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Block 3: Building Long-Term Success - Coggle Diagram
Block 3: Building Long-Term Success
The Politics of Business and Management (Sancino, A, 2017)
Stakeholder Analysis
Used for political analysis
Organisations should obey with
external and internal stakeholders
Used to identify stakeholders interests,
views and power on the organisation
Power vs. Interest Matrix
Group A - Minimal Effort
Low Level of Interest
Low Power
Group B - Keep Informed
High Level of Interest
Low Power
Group C - Keep Satisfied
Low Level of Interest
High Power
Group D - Key Players
High Power
High Level of Interest
Workers Voices - how can they be heard? (Pyman, A, 2016)
Employers must ensure that
workers feel heard and involved
What can this do?
Increases productivity
Builds strong relationships
Increases morale
Workers voice - direct and indirect expression
Indirect (collective employee representation)
Trade Unions
Non-union Structures (work councils)
Direct
Team Briefings
1-1 Meetings
Improving Performance (Walley, P, 2017)
Stage 1: Judging performance
measures to customers
ranked on 9-point scale
Purchase or use services based on performance
Stage 2: Judging based
on competitors
Ranked on 9-point scale
Assessed by competition
Stage 3: Matched against
characteristics
4 zones in matrix
Excess zon
Appropriate zone
Improve zone
Urgent action
Stage 4: Improvement plans developed
Shows were urgent action is required.
Relationship Marketing (Harris, F 2017)
Benefits
Cost Effective
Always getting profit from customers
They can help with delivery and productivity
Loyalty
Will encourage customer to come back
Companies do not need to lower prices
Good word of mouth from existing customers
Satisfaction
Major part in relationship building
Encourages customers to return
Does not always mean loyalty will be given