Definitions

Question 1

Leadership in change management

Answer 1

Leadership in change management is the ability to positively influence and motivate employees
towards achieving business objectives during a transformation

Question 2

Cost cutting

Answer 2

Cost cutting is the process of reducing business expenses

Question 3

Redeployment of resources

Answer 3

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

Question 4

Natural resources

Answer 4

Natural resources are the
raw materials that are used in the production of goods and services

Question 5

Labour resources

Answer 5

Labour resources are
the mental and physical
abilities of workers which
are used to produce goods
and services,

Question 6

Capital resources

Answer 6

Capital resources are
the man-made items
used in the production of
final goods and services

Question 7

Innovation

Answer 7

Innovation is the process of altering and improving or creating new products or procedures.

Question 8

Global sourcing of inputs

Answer 8

Global sourcing of inputs involves a business acquiring raw materials and resources from
overseas suppliers

Question 9

Overseas manufacture

Answer 9

Overseas manufacture involves a business producing goods or services outside of the country where
its headquarters are located

Question 10

Global outsourcing

Answer 10

Global outsourcing involves transferring specific business activities to an external business
in an overseas country

Question 11

Corporate Culture

Answer 11

Corporate culture is the shared values and beliefs of a business and its employees

Question 12

Official corporate culture

Answer 12

Official corporate culture involves the shared views and values that a business aims to achieve, often outlined in a written format

Question 13

Real corporate culture

Answer 13

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

Question 14

A learning organisation

Answer 14

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

Question 15

Systems thinking

Answer 15

Systems thinking is a management approach that considers the interrelationship between the parts of a whole system

Question 16

Mental models

Answer 16

Mental models are existing assumptions and generalisations that must be challenged so that
learning and transformation can occur in an organisation

Question 17

A shared vision

Answer 17

A shared vision is an aspirational description of what an organisation and its members would like
to achieve.

Question 18

Personal mastery

Answer 18

Personal mastery is the discipline of personal growth and learning, aligned with one’s values and
purpose.

Question 19

Team learning

Answer 19

Team learning is the collective learning that occurs when teams share their experience, insights,
knowledge, and skills to improve practices