Chapter 2
Organisation performance:
1) The importance of creative thinking and problem-solving techniques to identify
strategies to improve the overall performance of the business:
- In this section it is the power of the buyers
- If the buyers are unhappy and complain the business has to come up with a
strategy to ensure the consumer is happy.
- Creative solution will help the business gain a competitive advantage. They need
to be quick and efficient as the world is ever changing.
- Problem solving steps:
1) Identify the resource gap and obtain these resources
2) Explain the impact on the business and consider a different solution
3) Choose the best solution(s) and explain it in depth.
2) Analysis:
21.) pros and cons chart – advantages vs disadvantages
2.2) decision tree – visual representation, different outcomes to a SINGLE event.
2.3) value chain analysis – adding value for the customer. To add quality to the product for
the consumers happiness.
2.4) PE2STLE -explained in chapter 1
2.5) SWOT analysis – STRENGHTS and WEAKNESSES = internal issues (8 business functions)
and OPPORTUNITY AND THREATS = external issue to gain a competitive advantage to other
businesses similar to yours.
2.6) Delphi technique – obtain the publics opinion anonymously but creating a panel to see
what they think about the new product.
2.7) Resource-Based approach – which resources are of strategic importance to the
business. These can assist the business to a competitive advantage. The business needs to
determine the resources needed to solve the solution.
2.8) Balance score card – the BSC is used to describe the key outcomes of the business that
they would like to measure in order to improve the outcomes. This strategy will help the
business gain a competitive advantage.
- Financial perspective = focuses on max utilisation of assists and minimizing costs
in order
Organisation performance:
1) The importance of creative thinking and problem-solving techniques to identify
strategies to improve the overall performance of the business:
- In this section it is the power of the buyers
- If the buyers are unhappy and complain the business has to come up with a
strategy to ensure the consumer is happy.
- Creative solution will help the business gain a competitive advantage. They need
to be quick and efficient as the world is ever changing.
- Problem solving steps:
1) Identify the resource gap and obtain these resources
2) Explain the impact on the business and consider a different solution
3) Choose the best solution(s) and explain it in depth.
2) Analysis:
21.) pros and cons chart – advantages vs disadvantages
2.2) decision tree – visual representation, different outcomes to a SINGLE event.
2.3) value chain analysis – adding value for the customer. To add quality to the product for
the consumers happiness.
2.4) PE2STLE -explained in chapter 1
2.5) SWOT analysis – STRENGHTS and WEAKNESSES = internal issues (8 business functions)
and OPPORTUNITY AND THREATS = external issue to gain a competitive advantage to other
businesses similar to yours.
2.6) Delphi technique – obtain the publics opinion anonymously but creating a panel to see
what they think about the new product.
2.7) Resource-Based approach – which resources are of strategic importance to the
business. These can assist the business to a competitive advantage. The business needs to
determine the resources needed to solve the solution.
2.8) Balance score card – the BSC is used to describe the key outcomes of the business that
they would like to measure in order to improve the outcomes. This strategy will help the
business gain a competitive advantage.
- Financial perspective = focuses on max utilisation of assists and minimizing costs
in order
