Summarize the recommendations and create plan bridge the gaps

RTO No: 91223

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Strathfield College RTO: 91223 CRICOS Provider Code: 02736K BSBSTR601 Manage Innovation and Continuous Improvement| 2© 2021 RTO Works

acquired during the learning phase of this unit. Ensure that you:

 review the advice to students regarding answering knowledge questions in the Business

 submit work which is original and, where necessary, properly referenced

 submit a completed cover sheet with your work

Scenario Analysis

Scenario analysis is the process of estimating the expected value of a portfolio after a given

2. List three ways that knowledge management systems can be established in an organisation.

1. Intimate Company Knowledge

2. Potential Recognized

A central repository of easily referenceable information can be absolutely invaluable. From operations to human resource, marketing, sales, production, and more, a detailed record of activities can be streamlined and managed. There is no shortage of , the real question is how to utilize that data to craft and accurately measure potential across the board. For budgeting and scaling purposes, this can cut your workload down dramatically.

within your organization to make data-based decisions. For and produce the best results, information sharing can only make things better.

3. List three types of continuous improvement systems/process that can be used in an organisation.

3. Monthly Training:

In big businesses, especially, it is common that each employee works within a silo or “swim lane.” But, both cross-training and automation software can contribute to process improvement. For example, if you can train employees to know how to do multiple jobs, then if someone is absent because of sickness or vacation, a process remains unharmed. Another idea is to implement an automation tool within your organisation to reduce dependency on key personnel. For example, automation tools like SolveXa’s system are designed such that processes are stored within the system and can be run by virtually anyone with access. Not only is the process stored and will automatically run, but as the process runs, the system documents the steps it is taking to produce its output.

Systems thinking is a holistic approach to analysis that focuses on the way that a system's constituent

parts interrelate and how systems work over time and within the context of larger systems.

A mental model is an explanation of how something works.

6. Complete the following table regarding quality management and continuous improvement

In larger organizations, the gap analysis process generally falls under the purview of business analysts, project mprocess improvement teams or management. But with a little training, and a well-designed , anyone can work through the process.

Some organizations may already have a process outlined that you can follow. However, the basic steps for performing a gap analysis are explained below.

2. Establish the ideal future state. If everything worked according to plan, where would you be? 3. Analyze the current state. What causes contributed to the targets being missed? For example, were the workers not trained well enough? Was the production floor short-staffed? Were required materials consistnelty available? Did the layout of the production floor slow things down?

4. Compare the current state with the ideal state. How far from the target was actual production?