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Block 3: Building long-term success - Coggle Diagram
Block 3:
Building long-term success
Change management
communicate the change vision
establish a sense of urgency
generate short-term wins
develop a vision and strategy
anchor new approaches in the culture
A transitioning of all or part of a business that alters the way in which is operates and generates income
Cost of quality
Prevention costs - making sure errors dont happen
Appraisal costs - cost of establishing and measuring the level of quality in a product or service.
Internal costs of defects - cost of identifying and rectifying defects during production
external cost of defects - costs relating to issues with quality which do not arise until after the customer has received the product or service.
Innovation strategies for value
Problem solving
Transformation
Reconfiguring
Reflecting
Employee relations
Partnership - mutual between employer, union and employee
HRM - managerial authority with no union involvement
Traditional - governed by managers and unions
Operational risk
Supply failures
Failures within operations processes
Design failures
Environmental disruption
Customer failures
Quality Assurance and Quality control
QC
Reactive measures taken as a result of a fault being found post-production
QA
Steps taken during production in order to ensure that mistakes arent made - preventative.
Leadership
Value Accounting
Historical value - the amount that was paid for something when it was sold or purchased in the past
Fair value - takes into account increase in value, current markets and availability
The innovation value chain
Conversion (strategy)
Diffusion (leadership)
Idea generation (creativity)