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Block 3 - Building long-term success - Coggle Diagram
Block 3 - Building long-term success
Innovation
Long term innovation - time lag, investment, consistency - team collaboration improves staffs sense of company values
Innovation cycles - symbiotic relationship with market economy (funds, pressure to innovate
Disruptive in nature - needs consistency and investment
Staff motivation and company culture can help the team work towards and agree innovations
Staff
Management vs Leadership
Leaders outward looking, care for staff, trusts and deligates
Leaders focus on the staff, team building, mental health and employee feelings
Managers focus on KPIs, goals, plans and ratios
Motivation
Team collaboration improves social solidarity
Sense of ownership can improve quality and employee job performance
Quality
Cost of Quality
Prevention - putting extra systems in place to reduce quality incidents
Appraisal - putting systems in place to measure quality
Internal costs of defects - dealing with quality issues when the product hasn't reached the customer
External costs of defects - dealing with customer complaints
Quality control
Quality Assurance
Proactive - making sure all operations are producing quality
Quality Control
Reactive - finding faults in the operational systems and making sure the final product is customer ready
Marketing
Internal Marketing (Harris, 2021)
Promote brand awareness
Goal congruence
Improve relationships with customers
Team collaboration
'Moments of truth' - customers evaluate the service given by staff members
Unfair customers
Verbal, Blamers, Rule makers/breakers
Staff need help from management to tackle this - builds social solidarity and sense of belonging
Brand champions/saboteurs - brand must further connect with these groups (Ind, 2007)
Relationship marketing (Harris, 2021)
Benefits (Buttle, 1996)
Cheaper to retain rather than attract customers
Increased profit over the lifetime of customer
Loyalty
Repeat purchases
Decreased price sensitivity
innovation can mean using new and upcoming marketing methods, strategies and technologies and help a company achieve new goals