Random Flashcards
What factors are included in SERVQUAL?
Tangibles
Reliability
Empathy
Assurance
Responsiveness
What is SERVQUAL for?
Key to retention is understanding and delivering the drivers of customer satisfaction as satisfaction drives loyalty and loyalty drives profitability.
The ‘SERVQUAL’ approach to service quality
What effect does technologies on the structure of the downstream supply chain?
Disintermediation
Countermediation
Reintermediation
What is reintermediation?
where the business creates a new intermediary into the downstream supply chain
What is disintermediation?
in this process intermediate organisations (middlemen) can be taken out of the supply chain
What is countermediation?
where established firms create their own new intermediaries to compete with established intermediaries
What is Senge’s five disciplines of learning organisations?
- Building a shared vision
- Systems thinking
- Mental Models
- Team Learning
- Personal Mastery
What is systems learning?
refers to the need for staff to see a particular problem as part of the wider whole and devise appropriate solutions.
What is team learning?
refers to the need to train people as teams as there are factors in group dynamics that impede learning
What is indirect external triggers?
Identified using PESTEL framework
What is direct external triggers?
assessed using Porter’s five forces model
What is adaptation?
Change undertaken to realign the way in which business operates. Implemented in a series of steps
What is revolution?
Transformation change occurs via simultaneous initiatives of many fronts. More likely to be forced and reactive
What is reconstruction?
Change to realign in which organisation operates with many initiatives implemented simultaneously
What is evolution?
Transformational change implemented gradually through inter related activities
What is retrenchment?
Doing same as before but cutting costs
What is turnaround?
Organisation repositions itself with the market for competitive advantage
What is divestment?
Involves external sale of part of the organisation
What is liquidation?
Organisation sold to one or more buyers
What is dog?
Low market growth, low market share.
Little value to the business
What is star?
High growth potential and so business must invest in this to protect the current high market share
What is problem child?
Decision is needed. Either invest to grow market share or withdraw and invest in other product
What is cash cow?
Max contribution and minimise unnecessary expenditure. Low growth potential makes this unattractive to competitors.
What is short term shareholder interest?
Short term focus in that it aims to maximise profits in financial year
What is longer term shareholder interest?
Same as STSI except it looks at long term view
What is multiple stakeholder obligation?
Accepts the organisation exists for more than simply making a profit
What is shaper of society?
Ideologically driven and sees its vision as being the focus for all its actions
What is reaction?
Denies responsibility, argues they are not to blame
What is defence?
Admits responisbility but fights it
What is accommodation?
Admits responsibility and does what is demanded
What is proaction?
Go beyond industry norms and anticipates future expectations
