PowerPoint Presentation BSBMGT608 Manage innovation and continuous improvement Session 1 Review Programs, Systems and Processes Assessment Resources – PPT – BSBMGT608 Manage innovation and continuous...

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PowerPoint Presentation BSBMGT608 Manage innovation and continuous improvement Session 1 Review Programs, Systems and Processes Assessment Resources – PPT – BSBMGT608 Manage innovation and continuous improvement V 1.0: May 2020, Approved: QAC, Next Review: December 2020 International College of Tasmania Pty Ltd trading as: TasCollege RTO Code: 45352 | CRICOS Code: 03683K Purpose of this presentation At the end of this session, you should be able to: � establish strategies to monitor and evaluate performance and sustainability of key systems and processes � undertake detailed analyses of supply chains, operational and product and service delivery systems � identify performance measures, assessment tools and techniques and evaluate their effectiveness. Purpose of this presentation (cont.) � analyse performance reports and variance from plans for all key result areas of the organization � identify and analyse changing trends and opportunities relevant to the organization � seek advice from specialists, where appropriate, to identify new technology and electronic commerce opportunities. Review Programs, System and Process � Monitor and Evaluate Performance � Monitor and Evaluate Sustainability � Analyse Systems and Processes � Performance Measures and Assessment Tools � Performance Reports � Identify Trends Monitor and Evaluate Performance Common Performance Measures 1. Cost: How much does it cost to produce a unit? 2. Time: How long does it take to produce a unit? 3. Quality: How many orders were processed correctly? 4. Production: How many unit are being produced per hour? 5. Sales: What is the sales result for that product for the month? © 2015 Innovation and Business Industry Skills Council Ltd Monitor and Evaluate Performance CONT… Monitor Performance steps Step 1: Decide what you will monitor For example: expense, Sales, customer satisfaction, Quality, Productivity. Step 2: Determine how you will measure performance For example: In call centre operations, customer care © 2015 Innovation and Business Industry Skills Council Ltd Monitor and Evaluate Performance CONT… Step 3: Analyse Results For example: Back ground information, Strategic plan goals, operational plan goals. © 2015 Innovation and Business Industry Skills Council Ltd Monitor and Evaluate Sustainability To this point, we have considered monitor and evaluation in connection with the traditional concerns of business, namely, performance with respect to some of the following area: � Expense � Productivity � Quality � Sales � Employee engagement, etc. © 2015 Innovation and Business Industry Skills Council Ltd Monitor and evaluate sustainability CONT…. Sustainability is associated with following trends. Triple bottom line reporting: Monitoring and reporting on sustainability is associated with the trends towards reporting transparency and triple bottom line reporting. This type of reporting encompasses reporting on environmental as well as social and economic measures of performance. © 2015 Innovation and Business Industry Skills Council Ltd Monitor and Evaluate Sustainability CONT…. Why monitor sustainability? There are several reasons why companies would want to monitor sustainability. Firstly, the trends towards transparency and triple bottom line reporting has created a general expectation on the part of the wider community that companies should report environmental performance. Secondly, sustainability is nota wholly separate issue from the financial bottom line. © 2015 Innovation and Business Industry Skills Council Ltd Monitor and Evaluate Sustainability Performance targets, indicators and monitor strategies: As with monitoring performance in general, it crucially important to set performance targets and ways to measure or indicate performance. For example, you may wish to reduce carbon emission by 50%. You could indicate actual performance by the annual tonnage of CO2 released. © 2015 Innovation and Business Industry Skills Council Ltd Monitor and Evaluate sustainability CONT…. Environmental management systems (EMS) An environmental management system is an important tool for the systematic monitoring and evaluation of sustainability. Sustainability Victoria defined as EMS as’ a tool for identifying environmental opportunities and reducing environmental impacts and risks by making the management of these part of day to day business operations. © 2015 Innovation and Business Industry Skills Council Ltd Analyse Systems and Processes Types of systems and processes There are several types of systems and processes that organisations use to produce goods and services. The most common are: 1. Supply chains 2. Operational systems 3. Product/service delivery system © 2015 Innovation and Business Industry Skills Council Ltd Analyse Systems and Processes CONT…. 1 Supply chains Supply chains represent the procurement, production and distribution activities of an organisation. Within a supply chain, these activities are viewed as linked and reliant on one another to produce the final outcomes. For example: Procurement, Production, Distribution, Retail consumption © 2015 Innovation and Business Industry Skills Council Ltd Analyse Systems and Processes CONT…. 2 Operational systems Operational systems are used to process an organisation’s day to day business transections. They are typically focused on a specific business process or task and will record the data used. For example: A supermarket uses an operational system to complete customer transections. The system records the stock and prices as well as processing transections completed at the registers. © 2015 Innovation and Business Industry Skills Council Ltd Analyse Systems and Processes CONT…. 3 Product/services delivery system A product/service delivery system is used by an organisation to complete production and service delivery functions. These system follow a process that ultimately produces an end product or services. For example: Toyota uses the Toyota production system. This system provides a process for producing cars that meet the expectations of customers, employees and the business. © 2015 Innovation and Business Industry Skills Council Ltd Analyse Systems and Processes CONT…. Completing an analysis To effectively review an organisation’s system and process, a detailed analysis must be completed. There are many tools available to complete this analysis, including: � Process maps � SWOT analysis � Benchmarking � Check sheet � Graphs and charts © 2015 Innovation and Business Industry Skills Council Ltd Analyse Systems and Processes CONT…. � Process maps: Completing an analysis of each step of the process allows for the identification of improvements and process efficiencies. This involves identifying the start and end points of the process, and mapping all steps in between those two points. � SWOT analysis Another tool that can be used to analyse the effectiveness of supply chains, operational and productivity/services delivery system is a SWOT analysis. © 2015 Innovation and Business Industry Skills Council Ltd Analyse Systems and Processes CONT…. Benchmark: Benchmarking offers a reliable and consistent way to measure performance, productivity, quality and innovation. Benchmark can be used to: � Monitor departmental performance � Compare performance of departments within the organisation � Compare performance against competitors © 2015 Innovation and Business Industry Skills Council Ltd Analyse Systems and Processes CONT…. Check sheet Check sheets are used to gather data based on observations. They detect and highlight errors or variations within a process a system. Graphs and charts Graphs and chart are an excellent way to display data, making it easy to see what is occurring within the system or process you are analysing. © 2015 Innovation and Business Industry Skills Council Ltd Analyse Systems and Processes CONT � Pareto charts � Run charts � Charts © 2015 Innovation and Business Industry Skills Council Ltd Performance Measures and Assessment Tools Performance measures and assessment tools are useful for reviewing an organisation’s programs, system and processes. Far example: � Balance scorecards � Performance reviews � Key performance indicators � Services level agreements © 2015 Innovation and Business Industry Skills Council Ltd Performance report Organisations report on the performance of a variety of areas within their business, including: � Budget/ cost variance � Customer service � Financial � Occupational � Quality � Production � Human resources � Other operating parameters © 2015 Innovation and Business Industry Skills Council Ltd Identify trends Trends provide you useful information when completing reviews of an organisation’s programs, system and processes. Organisations analysis trends for many areas of their business, including: � Sales � Financial � Customer � Employees � Distribution © 2015 Innovation and Business Industry Skills Council Ltd BSBMGT608 Manage innovation and continuous improvement Session 2 Continuous Improvement Purpose of this presentation At the end of this session, you should be able to: � brief groups on performance improvement strategies and innovation as an essential element of competition � foster creative climate and organizational learning by promoting interaction within and between work groups � encourage, test and recognize new ideas and entrepreneurial behavior where successful. Purpose of this presentation (cont.) � accept failure and of an idea during trialling and recognise, celebrate and embed success into systems � undertake risk management and cost-benefit analysis for each option or idea approved for trial � approve innovations through agreed organisational processes. Continues improvement � Continues improvement � Performance improvement strategies � Communicate performance improvement strategies � Create a culture of innovation and continues improvement � Manage new ideas © 2015 Innovation and Business Industry Skills Council Ltd Continues improvement Continues improvement is a process of consistently what we do in search of a way of improving the organisation in very aspect of its activities. © 2015 Innovation and Business Industry Skills Council Ltd Continuous improvement theories CONT… � Plan-Do-Check-Act Cycle (PDCA) � Total Quality Management (TQM) � Kaizen � Six Sigma � Lean Manufacturing/Production. Performance improvement Strategies Performance improvement strategies could include: � process re-engineering � implementing technology or equipment � training. Communicate performance improvement strategies For organisation to remain competitive, continues improvement and innovation must become a way of life for employees. An organisation’s employees are the people who interact with the systems and process on a daily basis, and therefore are often the best source of ideas for performance improvement strategies. © 2015 Innovation and Business Industry Skills Council Ltd Communicate performance improvement strategies � Presentation skills � Planning the presentation � The audience � What if you mix audience � Develop your presentation © 2015 Innovation and Business Industry Skills Council Ltd Create a culture of innovation A creative climate is one where team members are: � highly motivated � experienced and/or experts in their field � allowed time for creative thinking � encouraged to deliberate and think laterally. Create a culture of innovation CONT…. Obstacle to creative thinking: 1. Obstacle thinking 2.
Answered Same DayNov 18, 2021BSBMGT608Training.Gov.Au

Answer To: PowerPoint Presentation BSBMGT608 Manage innovation and continuous improvement Session 1 Review...

Preeta answered on Nov 22 2021
138 Votes
TASK 1
1. Three strategies of effective monitoring, review and evaluation of performance and sustainability of key systems and processes in an organisation are:
a. Regular review – The performance should be regularly reviewed to check the mechanism and progress that is being made and also to find out if there is any issue.
b. Evaluation – After a task is completed, the outcome is to be evaluated with the expected outcome.
c. Proper reporting – if any irregularity is being found or if it is seen that the performance is not up to the standard then proper authorities are to be reported.
2. Maintaining a good relation with the supplier is often beneficial for the business organizations since a close communication helps the supplier to
understand the business requirements and so they can provide the right kind of materials. Moreover, good relation also builds a sense of trust so that the supplier can extend credit to the business organization.
3. Tools and techniques for performance management are:
a. Performance appraisal – A fair and regular appraisal is to be implemented in the business organization based on the performance.
b. 360-degree feedback – The expectations of the stakeholders are taken into account and then the actual performance is tallied that is if the performance of the employees is as expected.
c. Management by objectives (MBO) - The objectives are being set beforehand and then the employees are directed to act as per the objective.
d. Balanced Scorecard (BSC) – The performance of the employees can be tracked using the balanced scorecard approach.
e. Reward and recognition programmes – To provide rewards to the employees and recognize their hard work.
f. Personal development plans (PDP) – This plan helps the employees to build awareness about themselves and then to find out the weaknesses and work on that.
4. Variance analysis is done to find out the deviation between the actual performance and the expected performance so that the reason for such deviation can be find out and the corrective measures can be taken.
5. The following are to be asked:
a. If sales are favourable as per variance analysis:
i. If the quality of the product has improved?
ii. If the demand of the product has improved, if so the reason for that.
iii. What is the competitive strategy being adopted and if that can be continued in the long run?
iv. What is the condition of the competitor in the market?
b. If expenditure is unfavourable as per variance analysis:
i. Is there an increase in the overall cost?
ii. Are the expenses seasonal?
6. In the dynamic business environment of the present time, changing trends and opportunities can be identified using the following:
a. The factors that contribute to the change in the industry is to be researched and find out and then those are to be monitored that is if there is any change.
b. The competitors with their substitute products are to be identified and their strategies are to be followed.
c. Change in pattern of purchase is to be identified.
d. PESTEL analysis and SWOT analysis can be done to identify the opportunities.
7. To develop a new e-commerce strategy, the following institutions can be referred to get the advice:
a. Internal IT and marketing team members
b. E-commerce designers and project organisations
c. Council of Textile and Fashion Industries of Australia
d. social media specialists.
e. Australian Retailers’ Association
8. To brief groups on performance improvement strategies and innovation, the following types of knowledge are required:
a. On the macro environment and the competitors
b. The nature of the people in the group and the way of communication that is to be adopted to send the message to them.
c. Ways which can be adopted by the team to achieve the required performance.
d. Proper change management framework which is required in the organization.
9. To establish a creative and entrepreneurial climate, the following strategies can be adopted:
a. Proper communication – Communication is a very effective key for innovation and all the departments and teams in the organization should communicate properly. The managers and the supervisors should establish a positive relation with the team and other employees so that there is free flow of ideas and concerns. The same thing goes for the top management as well.
b. Flexibility – Even if after a plan has been formulated if it is found that adopting some other method will enhance the performance then that has to be adopted and so flexibility should be there.
c. Risk taking – The organization should be able to take and should invest on new and innovative ideas rather than sticking to the old ways.
10. Ways that can be adopted for better recognition, reward and to celebrate new ideas, entrepreneurial behaviour and successful trials are:
a. Celebrations like office parties
b. Providing free time to employees so that they can come up with some innovative or creative ideas
c. Incentives both in monetary or non-monetary form
d. Promotion
11. Three strategies to increase the organisation’s acceptance of failure are:
a. The employees should not be punished since that will create a sense of resentment.
b. The risk tolerance level is to be increased and the risk management policy is to be formed as per that.
c. The lessons that has been learned from the failure are to be discussed in groups so that the same things are not being repeated in future.
12. Requirements to undertake a cost–benefit analysis are:
a. To identify the costs which are involved in the production of a particular good or service.
b. To identify the benefits which are involved in the production of the same good or service.
c. To identify if the benefits are enough to carry out the cost of production.
A breakeven point can be established by finding the quantity of production where the benefit is just equal to the cost that has been incurred for the production and there is no extra profit and loss.
13. The risks which have been identified are:
a. The competitor might produce similar product or even better product, the likelihood of the risk is high. This can be mitigated by keeping a watch on the strategy of the competitors.
b. The costs might exceed the benefit, the likelihood of the risk is medium. To avoid this, cost saving strategies are to be adopted.
c. Law or standard might be violated, the likelihood of the risk is low. To avoid this, the laws are to be followed in detail.
14. Both project management and change management are an effective method and based on the nature of innovation, the method can be applied. For a particular project, project management can be implemented but if change is to be implemented in the organization overall then change management is appropriate.
15. Three theories of innovation are:
a. Portfolio management – investments in the portfolio are analysed overall and then in a consolidated manner to understand the effectiveness of the whole portfolio.
b. Business canvas model – It includes key partners, key activities, value propositions, key resources, customer relationships, customer segments, cost structure and revenue streams.
c. Three horizons model – The first horizon is to operate that is to strengthen the core business, the second horizon is to build the business and develop new opportunities and the third level is visionaries that is to create viable options.
Three strategies...
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