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Block 3: Building long-term success - Coggle…
Block 3: Building long-term success
Innovation
Happens in cycles where innovation increases and decreases
Product life-cycles: Products used until consumers no longer interested
Long waves of economics
Disruptive qualities
Need of long-term sustainable innovation culture
Politics of Business
Politics is everywhere, which means all business are conditioned by it
Societal perspective
Organisational perspective
Political situations need to be analysed and businesses need to show political astuteness skills
Becoming a value player
Creation of value is key to success
Innovation
Internal and external value
Different functions - different criteria to assess value
Relationships with employees
Employment relationships evolve over time
Opportunities and challenges
Empowering employees
Positive enagement
Different expectations
Creating value in the long term
Measurement is key to making short-term and long-term decisions
Through accounting information such as financial statements
New corporate strategies through CSR, considering society and the environment challenges as business opportunities
Shared value
Change management
Innovation implies change, which needs to be balanced with stability
Plan and manage change as it will need to be supported by the whole organisation
Sustainable transformation is key to maintaining an innovation culture
Quality and improvement
Directly linked to success
QA and QC
Continuous improvement
Marketing
Long-term relationships with customers to remain relevant
Internal marketing - staff believing in brand
Monitoring for crisis management, improvement and achieving goals
Operational risk
Potential for an issue or negative consequence
Assessment: identify source, impact and chance of happening
Operational resilience - key to manage risks
Leadership
Driving business forward - finding direction
Long-term vs short-term balance
Collaborative, not individual