Definitions Flashcards
Leadership in change management
Leadership in change management is the ability to positively influence and motivate employees
towards achieving business objectives during a transformation
Cost cutting
Cost cutting is the process of reducing business expenses
Redeployment of resources
Redeployment of resources involves reallocating natural, labour, and capital resources
to different areas of the business to improve productivity and effectiveness.
Natural resources
Natural resources are the
raw materials that are used in the production of goods and services
Labour resources
Labour resources are
the mental and physical
abilities of workers which
are used to produce goods
and services,
Capital resources
Capital resources are
the man-made items
used in the production of
final goods and services
Innovation
Innovation is the process of altering and improving or creating new products or procedures.
Global sourcing of inputs
Global sourcing of inputs involves a business acquiring raw materials and resources from
overseas suppliers
Overseas manufacture
Overseas manufacture involves a business producing goods or services outside of the country where
its headquarters are located
Global outsourcing
Global outsourcing involves transferring specific business activities to an external business
in an overseas country
Corporate Culture
Corporate culture is the shared values and beliefs of a business and its employees
Official corporate culture
Official corporate culture involves the shared views and values that a business aims to achieve, often outlined in a written format
Real corporate culture
Real corporate culture involves the shared values and beliefs that develop organically within a
business, and are practised on a daily basis by its employees
A learning organisation
A learning organisation is an organisation that facilitates the growth of its members and continuously transforms itself to adapt to changing environments
Systems thinking
Systems thinking is a management approach that considers the interrelationship between the parts of a whole system
Mental models
Mental models are existing assumptions and generalisations that must be challenged so that
learning and transformation can occur in an organisation
A shared vision
A shared vision is an aspirational description of what an organisation and its members would like
to achieve.
Personal mastery
Personal mastery is the discipline of personal growth and learning, aligned with one’s values and
purpose.
Team learning
Team learning is the collective learning that occurs when teams share their experience, insights,
knowledge, and skills to improve practices
