Continuous Improvement and Innovation Flashcards
What is Continuous Improvement? (1)
A constant, ongoing effort to always be improving products, services, systems of an organisation.
What are Incremental improvements? (3)
Small steps made over time.
Marginal improvements.
Constant tweaks and change.
What are Quantum Improvements? (3)
Big breakthroughs.
At a specific point in time.
Changes everything at once.
What is innovation? (1)
A process to conceptualise new ideas for product, services, systems to take a business forward in one big step than small steps.
What are the 4 types of innovation? (4)
Sustained innovation: Plan to develop ideas.
Breakthrough innovation: Quantum improvement.
Disruptive innovation: Changing what already happens/exists.
Basic research: SWOT/PESTLE, changing trends, customers.
What are the reasons for continuous improvement and innovation? (5)
Inspire company strategy.
Open new opportunities/markets.
Develop unique selling points (USPs).
Encourage a diverse/creative workforce.
Keep up with/overtake competitor activities.
Why is continuous improvement and innovation important? (1)
Interlinked with need for change, CI%I are vital to sustain survival, economic growth, profitability of business.
What are the benefits of continuous improvement and innovation? (12)
(there is second and third version of benefits in dizzy check GC IMAGE)
Increased sales
Increased profits
Reduced costs
Reduced waste
Increased efficiency
Increased productivity
Improved product quality
Increased competitiveness
New joint venture opportunities
Increased brand recognition/value
Good employee satisfaction levels
Higher customer satisfaction levels
What are the 8 steps for continuous improvement and innovation? (8)
Focus
Action
Explore
Assess
Select
Create
Design
Refocus
What are the step 1 Focus list? (4)
(Initial focus of management will be on strategic requirements of business to ensure focus on what business goals are.)
SMART objectives to be achieved.
Expected end goals of change process.
Success measures needed for tracking.
Key performance indicators (KPIs) for accountability.
What are the step 2 Explore list? (3)
(Considering how to achieve business objectives)
Innovative ways to develop ideas.
Include staff teams in exploring ideas.
Range of tools to support creativity:
Kaizen, TQM e.g
What are the step 3 Select list? (4)
(Considering which ideas to adopt to help achieve the business objectives)
Prioritise ideas from the team(s).
Best options to meet objectives.
Carry out cost/benefit analysis.
Predict results.
What are the step 4 Design list? (4)
(Plan be detailed as necessary for size, scope of project.)
Create an implementation plan.
Set milestones for review.
Set track and monitoring.
Conduct small trials if necessary.
What are the step 5 Action list? (4)
(Nothing will change, help to achieve business objectives unless ideas turned into actions, change cannot be left to chance.)
Launch implementation plan.
Track performance.
Support teams.
Motivate and keep on track.
What are the step 6 Assess list? (4)
(What happened, did the change work, were products or processes improved?)
Review results of implementation.
Predicted results versus actual results.
On track? On time? To budget?
Objectives achieved?
What are the step 7 Create list? (4)
( Take as step back from the process so far, consider all the elements and resources used and lessons learnt)
What worked well.
What didn’t work well/at all.
Further improvements needed.
Further suggestions gathered.
What are the step 8 Refocus list? (3)
(Looking back on current cycle, taking forward the knowledge gained into next cycle, new ideas, suggestions will emerge from the process.)
New/additional improvements from Step 7.
Taken through the process from Step 1.
The continuous improvement process.
