3.6 Flashcards
1
Q
what is managing change?
A
the combination of activities involved in planning for, implementing, coordinating and monitoring the process of change
2
Q
what are the 2 ways directors may have an objective of growth?
A
- organic growth
- inorganic growth
3
Q
what is external contraction?
A
selling off elements of the business
4
Q
what is internal contraction?
A
- delaying
- closing down unprofitable elements
5
Q
what are the 6 reasons why new owners may be implemented?
A
- takeover
- merger
- management buy out
- next generation
- newly appointed directors
- flotation on the stock exchange
6
Q
state the reasons why new owners will want to make changes
A
- own vision or mission
- change in corporate objectives
- cultural differences
- personal leadership style
- make a difference with new ideas
- bringing together 2 companies policies and procedures
- turn around poor performance
- self glorification
