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13 Cards in this Set
- Front
- Back
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what makes a good vision? |
- not how we do things but why we do it - defines the purpose of the org - a set defined direction for a companies growth |
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what makes a good strategy? |
- the vision is why we do things, the strategy is how we are going to get it done - used to achieve something, the creation of a unique value proposition - SMART - porters generic strategies |
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Porters generic strategies |
Differentiation; creating uniqueness that is hard to imitate, broad market Cost leadership; aims to gain competitive advantage by lowering costs which can be hard to imitate Differentiation focus; tailored to a small market segment to create and capture uniqueness and value Cost focus; low operational costs in a narrow market ALL USED TO GAIN SUSTAINABLE COMPETITIVE ADVANTAGE |
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CSFs |
critical activities required for a strategy to be successful eg being able to handle bookings in a timely way |
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KPIs |
the way to measure the CSFs to see if it is successful eg percentage decrease in customer complaints needs to be SMART, MEASURABLE, ACCEPTABLE |
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Business processes |
what part of the org has the greatest measurable effect on our CSF/ strategy/ Vision |
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EPC models |
Semantics; does it follow logically? does it make sense? Syntax; does it use correct modelling constructs? - events cannot make decisions - data clusters and org units can only come out of functions - operators can only stem from functions - start and end with the same operator! |
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^ |
AND. - performing things in parallel eg weigh luggage and issue boarding pass |
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X |
XOR. only one of the events must be followed. eg log in, or register |
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v |
OR. can do combination eg want cake? cookies? nothing? |
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NAMING CONVENTIONS |
EVENT; past tense noun -> verb FUNCTION; present tense verb -> noun |
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EXAMPLES OF CSFs |
- increase cash flow - decrease number of customer complaints - attract new customers |
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EXAMPLES OF KPIs |
- 90% customer complaint resolution - 90% satisfaction rating - gain market share by 1% per month - sustain 98% customer satisfaction rate |
