Driving Forces Flashcards
Owners
The owners of the business.
They can be a driving force though their power over the business, able to give support to and obtain resources needed for the change and give approval for them. New owners may bring in new ideas to initiate changes.
Employees
Employees of a business.
Can be driving force though pressuring owners and managers to make changes to the business or pitching new ideas. May be due to dissatisfaction with current conditions. Employees who support changes can rally support and drive change that way.
Managers
Managers of a business.
Can be a driving force through inspiring and supporting employees to believe in the change. May review KPI data to decide on new changes.
Societal Attitudes
Values, beliefs and expectations held by society as a whole.
Can be a driving force as societal attitudes change and different things are expected of business if they want to keep/grow their customer bases.
Legislation
Laws which dictate how a business must operate.
Can be a driving force as new legislation may force a business to change or risk legal consequences.
Technology
Technology which is used in the running of the business.
Can be a driving force as new technology can help increase effectiveness and efficiency. Technology may need to be updated to maintain competitive advantage.
Competitors
Rival business which a business must compete with for their customer base.
Can be a driving force and businesses may need to implement changes to remain ahead of their competitors.
Pursuit of Profit
The want to improve the amount of the business is returning.
Can be a driving force as implementing changes can improve the amount of profit the business brings in.
Reduction in Costs
The want to reduce the amount of money the business is returning.
Can be a driving force as implementing change can improve the amount of profit the business brings in.
Globalisation
The expansion of the business into international sales and manufacturing.
Can be a driving force as innovation introduces new ideas and potential into the business.
Innovation
The adaption, improvement of or creation of new ideas in the business.
Can be a driving force as innovation introduces new ideas and potential into the business.