Delphi technique
- getting experts to interact on common project through internet (Skype, email, etc.)
- allows participants to remain anonymous
- run by a facilitator
- facilitator will pose questions and determine formality of the process
- avoids problems of negative group dynamics
Negatives of Delphi technique
- it is open to manipulation by facilitator
- time consuming with response and feedback
- experts may not respond timeously
RIMS
Stands for: Rational Interaction for Moral Sensitivity
- Is a strategy for moral decision making in a business
- primary focus is on society instead of individual (utilitarian approach)
- all participants are considered equal
- based only on facts
Steps in RIMS
- Generate and evaluate all points of view. It should be a moral, not selfish, argument, it must be understandable and clear to all
- Identify implications. Identify positive and negative implications in all points of view
- Find solutions that will minimise negative implications and maintain positive implications
DRIVE technique
Define Review Identify Verify Execute
DRIVE technique explained
Define: the problem and criteria to solve problem
Review: the background of problem to find crux
Identify: the real problem and related issues
Verify: if solving real issue achieves desired outcome
Execute: the proposed solution and evaluate to prevent similar issues
Drill down technique
Is a process of breaking down problems into smaller parts to find root causes
Method to Drill Down technique
- write down problem of left side, halfway down the page
- break it into component parts by asking questions about it
- break down component parts into actions
- try to find solutions to the smaller components as it is more manageable
Resource based approach
- states that business should find which resources are of strategic importance to them
- these resources assist the business gain competitive advantage
Resource based approach: Resources
- tangible resources (scarce raw materials, financial resources, equipment, land and buildings)
- intangible resources (parents, established brand, skills, moral/ethical workforce)
Balances Score Card (BSC)
PERSPECTIVES
- developed to describe key outcomes that the business would like to evaluate in order to improve
Elements in BSC
Financial perspective: maximising utilisation of assets and minimising costs
Customer perspective: what are customers expectations from business
Internal perspective: focused on innovative products and services, management of operations and social investments
Learning and growth perspective: looks at how employees in business can improve and creat value, focus on leadership, teamwork and accountability
