(3.6) Managing Change Flashcards
What is change?
To make something different
What is change management?
The process of organising and introducing new methods of working in a business
What is internal and external change?
Internal: Factors within the control of the business
External: Factors outside the control of the business
What are the 3 types of change and there meaning?
- Step (significant and rapid)
- Incremental (small changes over a period of time)
- Disruptive (impacts the whole market) change
What are the 5 causes of change?
- Size
- New ownership
- Poor performance
- Transformational Leadership
- External factor (PETSLE)
How might a business change as it grows?
What is scenario planning?
The process of analysing the current and future environment of a business in order to create a strategy.
What are the 5 key steps involved in the scenario planning process?
- Identify possible trends and issues (Could use SWOT & PESTLE)
- Build possible scenarios (Eg terrorist attack)
- Plan response
- Identify most likely scenario (Which scenario should be priority)
- Capitalise on scenarios
What is risk assessment and why are they carried out?
Identifying potential harm and the precautions that might be taken to protect them from the harm
- To Identify hazards
- Wo might be harmed
- Probability of events happening
What is Business Continuity and the process the business should carry out?
In the event of an incident, a business should:
- Carry out a business impact analysis (gathering data)
- Create a recovery strategy (What’s required to recover?)
- Plan development
- Testing & Training
What is Succession Planning?
The process of identifying and developing current employees with the potential to fill key business leadership positions in the company.
What is risk mitigation Plans?
Identify, assess and priorities risks
Eg Ensure you have insurance and back up all your data
What are the 5 steps involved in succession planning?
