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business > business U4 AOS 2 > Flashcards

business U4 AOS 2 Flashcards

1
Q

change management

A

the process of implementing strategies that prepare an organisation to undergo a transformation.

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2
Q

leadership in change management

A

is the ability to positively influence an motivate employees towards achieving business objectives during a transformation

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3
Q

Leadership qualities

A
  1. build a shared vision
  2. providing ongoing communication
  3. providing on going support
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4
Q

Staff training

A
  • Equips employees with knowledge and skills for tasks.
  • Includes training to build skills, boost morale, and attract top talent.
  • on or off the job
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5
Q

staff motivation

A
  • Implements strategies to motivate employees toward business goals.
  • the willingness of an individual to expend energy and effort in completing a task
  • Includes career opportunities, recognition, rewards, engaging work, facilities, and change.
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6
Q

change in managemnet styles

A

managers altering their way of directing and interacting with staff.

Morale has decreased - less restrictive management, two way communication & decentralised decision making

Highly inefficient/performing poorly - restrictive, centralised decision making, one-way communication.

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7
Q

increased investment in technology

A

the implementation of automated and computerised process is for production
and operations. Faster, more precise, no brakes, and safer.

Ie. automated production line, ai, or online services.

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8
Q

improve quality

A

the implementation of processes that increase the perceived value of a product or service. TQM, QA, QC

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9
Q

cost cutting

A

halting the payments that are unnecessary and can be avoided.

merging staff roles, removing roles, reduction in hours
shutting down underperforming locations
stopping the production of good that are underperforming

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10
Q

initiating lean production techniques

A

is adopting approaches that reduce waste of resources (labour or material) in production while increasing the value of goods to the customer.

zero defects, pull, one piece flow, takt

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11
Q

corporate culture

A

refers to the shared values, beliefs and traditions that establish a collective ‘way of life’ within a business.

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12
Q

real corporate culture

A

Unwritten or informal rules that guide how people in a business operate.

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13
Q

official corporate culture

A

Formal and written communication about how people in a business operate.

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14
Q

Strategies for CC

A

R ewarding employees who exemplify appropraite values

E stablishing appropraite rituals, rights and celebrations

C haning prevailing management style

C ommunitcate desire values to staff

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15
Q

senges learning organisation

A

an organisation that facilitates the growth of its members and continuously transforms itself to adapt to changing environments.

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16
Q

Systems thinking

A
  • Systems thinking highlights interconnections in business operations.
  • Employees see how their actions impact the entire organization.
  • External changes can expose flaws in current methods.
  • Focuses on long-term solutions and improvements.
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17
Q

mental models

A
  • Existing assumptions and generalizations must be challenged for organizational learning and transformation.
  • Reflecting on behavior and beliefs is key to challenging mindsets.
  • Continuously challenge employees’ beliefs to break down existing mindsets.
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18
Q

shared vision

A
  • A shared vision is an aspirational goal for the organization.
  • Managers develop and promote this goal to guide employees.
  • When adopted, it motivates and aligns employees toward achieving the vision.
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19
Q

personal mastery

A
  • Personal mastery aligns growth with values and purpose.
  • High personal mastery leads to initiative and responsibility.
  • Encourages employee self-assessment.
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20
Q

team learning

A
  • Collective learning through shared experiences, insights, and skills.
  • Teamwork accelerates skill development.
  • Managers should promote collaboration for better decision-making and achieving objectives.
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21
Q

Senges learning organisation steps

A

Here’s an acronym for Senge’s learning organization steps: SMSTP

  • Systems thinking
  • Mental models
  • Shared vision
  • Team learning
  • Personal mastery
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21
Q

pros of senges

A

Open communication and information sharing

Continuous improvements

Innovativeness

Adapt to change and increase motivation

Enhances organizational performance for a competitive advantage

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22
Q

cons senges

A

Power differences are ignored

Process of implementing will be complicated and take long time

Fear of employees participation in organisational decision making

Breaking of existing organisational rules

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23
Q

low risk strategies

A

actions taken that are likely to generate positive outcomes in the short term and longer term

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24
Q

communication

A

Open, honest information transfer from managers to employees.

Two-way communication: employees can ask questions and get feedback.

Well-informed employees are less
resistant to change.

Communication should be quick, clear, respectful, and personable.

25
Q

empowerment

A

Increased responsibility and authority for employees during change.

Greater involvement leads to willingness to contribute.

Employees develop ownership and trust in managers.

26
Q

support

A

Managers assist employees through staff training and counseling.

Reduces fear and stress, helps employees adapt to new practices.

27
Q

incentives

A

Financial rewards (bonuses, pay rises) and non-financial rewards (leadership positions).

Employees are more motivated and less resistant when they benefit personally.

28
Q

pros low risk strats

A

EFFECT

Employee involvement and idea sharing
Fears and anxieties reduced with clear explanations
Favorable employer/employee relations
Enhanced trust and cohesion
Change acceptance in the long term
Trust and reduced disputes

29
Q

cons low risk strat

A
  • The change process can become very time consuming as
    it takes time to involve all employees.
  • Low-risk strategies such as support and incentives can be expensive, especially in the cases of counselling, training and bonuses.
30
Q

high risk strategies

A

actions taken that may succeed in the short term but run the risk of generating negative outcomes in the longer term

31
Q

manipulation

A
  • Influencing employees through incomplete and deceptive information.
  • Selective presentation distorts understanding of the change.
  • Employees may unknowingly support the change due to misinformation.
32
Q

threat

A
  • Forcing compliance by threatening harm for non-compliance.
  • Includes dismissal, poor references, or loss of promotion.
  • Employees may agree to change to avoid threats to job security, financial stability, and workplace happiness.
33
Q

pros high risk

A

Here’s an acronym for the summary: RICE

  • Rapid implementation of change
  • Ideal for critical situations or crises
  • Causes potential long-term mistrust
  • Envolves little financial cost
34
Q

cons high risk

A

Here’s an acronym for the summary: NERVE

  • Negative corporate culture
  • Enables rapid change implementation
  • Results in long-term mistrust and poor relationships
  • Values employees’ feelings of nervousness and resentment
  • Expects increased absenteeism and turnover
35
Q

lewins 3 step change model

A

a process that can be used by a business to implement change successfully.

36
Q

unfreeze

A

Unfreeze: Prepare for change.

Assess current state, gain management support, communicate reasons and vision, challenge existing beliefs, remove obstacles, and address resistance.

37
Q

change

A

Change: Implement the new state.

Introduce new processes, support staff through training and counseling, empower involvement, celebrate short-term wins, and ensure clear communication.

38
Q

refreeze

A

Refreeze: Sustain the change.

Establish new stability, reinforce with policies, update job descriptions, recognize and reward achievements, and celebrate successes.

39
Q

effect on owners

A

Positive: Better returns, leadership opportunities, improved perception.

Negative: Risks to personal finances, stress, potential negative impact on culture.

40
Q

effect on managers

A

Positive: Skill development, career growth, rewards.

Negative: Stress from workload, job insecurity if change fails.

41
Q

effect on employees

A

Positive: Career advancement, job satisfaction, rewards, skill enhancement.

Negative: Increased stress, job insecurity, performance issues.

42
Q

effect on customers

A

Positive: Better quality, lower prices, corporate social responsibility.

Negative: Reduced satisfaction from quality or price changes, dissatisfaction with product changes.

43
Q

effect on suppliers

A

Positive: Increased demand.

Negative: Reduced orders, need for process adjustments

44
Q

effect on general community

A

Positive: Increased local employment, support for local businesses, contributions to social causes, reduced environmental impact.

Negative: Higher unemployment, reduced customer traffic, potential environmental impact from sourcing changes.

45
Q

CSR

A
  • CSR: Ethical business conduct beyond legal obligations, considering social, economic, and environmental impacts in decisions.
46
Q

considering employeees/managers

A

Ensure well-being: Provide training, support, and outplacement services.

Change impacts: Offer counseling, manage redeployment, and maintain open communication.

47
Q

the general community

A

Support local economy: Choose local suppliers, redeploy employees, and manage job losses responsibly.

Minimize negative impacts: Support fair labor practices and environmentally-friendly sourcing.

48
Q

enviro

A

Eco-friendly practices: Use sustainable technology, minimize waste, and choose local, environmentally-friendly suppliers.

49
Q

customers

A

Maintain quality: Ensure product safety and fair delivery.
Communicate CSR: Involve customers in sustainable practices.

50
Q

suppliers

A

Support local: Source locally, uphold CSR standards, and ensure fair labor practices.

51
Q

CRS pros

A

Positive reputation, skilled employees, ethical commitment, and customer loyalty.

52
Q

disadvantages CSR

A

Potential decreased productivity, time-consuming, and costly implementation.

53
Q

evaluate effectiveness of a business via KPIS

A
  • Change Analysis: Assess size, success, impact, and need for further effort; consider alternative strategies for improvement.
54
Q

effectiveness

A

The degree to which a business has achieved its objectives

55
Q

redeploymeny of resources

A

reallocating natural, labour, capital resoucres to different areas of the business to improve productivity and effectiveness.

waste minimisation strategies (RRR)
transferring employees/capital to other areas of the business

56
Q

innovation

A

the process of altering and improving or creating new products or procedures

expand into new markets, meet new customers, improve performance

57
Q

global sourcing of inputs

A

acquiring raw materials and resources from overseas suppliers.

higher quality resources for a cheaper price = better satisfy customers and minimise operating costs

58
Q

Overseas manufacturing as a business opportunity

A

business producing goods outside of the coutry where its headquarters are located. Advantage of skilled labour resources and reduced operating costs whilst potentially improving quality.

59
Q

global outsourcing as a business opportunity

A

transferring specific business activities to an external business in an overseas country. Business can focus more on its core business objectives, minimise expenses, gain expertise and increase the quality of its operations system.

business (7 decks)

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