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Business > internal change > Flashcards

internal change Flashcards

1
Q

what are the 7 sources of external change

A

PESTEL and competitive factors

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2
Q

what is a proactive and reactive approach to change

A

proactive - look ahead for change so you are better prepared to deal with it
reactive - wait for change to happen then respond

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3
Q

what are the 3 internal causes of change

A
  • changes in the organisational size
  • the impact of new owners/leaders
  • poor business performance
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4
Q

what are 4 reasons a business might want to grow

A
  • benefit from economies of scale
  • more power of market so can negotioate better deals
  • more status
  • safer from takeovers
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5
Q

is internal growth or external growth slower?

A

internal growth

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6
Q

what organisational should a business adopt if it is growing

A

traditional hierachy

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7
Q

what is the diasadvantages of a growing business

A
  • worse emploee relationships
  • harder to keep control and coordination
  • communication is harder
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8
Q

what is essential for effective growth

A

good communication

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9
Q

when does external growth occur

A

takeovers and mergers

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10
Q

what are the 3 types of integration

A

horizontal
verticle
conglomerate

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11
Q

what is congomerate integration

A

when 2 firms in different markets merge e.g cadburys and dulux

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12
Q

what is an expample of a successful merger

A

nippon glass and pilkington glass

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13
Q

what are 3 businesses that have sucessfully vertically integrated (they manufacture and sell the products)

A

zara and american apparel and morrisons

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14
Q

what percentage of takeovers fail?

A

50-70%

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15
Q

what are the 7 advantages of takeovers and mergers

A
  • gain all their knowledge
  • gain customers
  • gain insight into a new market
  • share ideas
  • economies of scale
  • eliminate competition
  • vertical integration cuts costs as you don’t need suppliers or a distribution chain
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16
Q

what are disadvantages of takeovers and mergers

A
  • organisations will have different values and cultures
  • staff will need to be fired which is unmotivating
  • pay wil have to be reorganised so its fair
  • diseconomies of scale
  • worse communication
  • employees may see it as a rivalry not a tema
  • 60% of mergers and takeovers destroy shareholder value
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17
Q

what is another way a firm could expand

A

go overseas

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18
Q

6 ways of financing groth

A

retained profits

  • mortgages
  • overdraft
  • loan
  • share issue
  • sell assets
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19
Q

how can new owners and leaders lead to change

A
  • new leaders often make change to make an impact
  • new leaders have a different vision to old ones
  • new leaders have different values, expiriences. leadrership styles
  • new leaders are brought in to make change most the time
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20
Q

what are 4 leadership case studies

A

nokia - elop was brought in in 2011 because of a poor performance
ryanair - they had an autocratic leadership style but changed leader so it would become more democratic
tesco - in 2014 a new ceo was appointed who has changed the strategy to looking completely at the long term
barclays - jenkins was brought in in 2014 after thy were found misselling ppi to customers. Jenkins told employees they either cept the new corporate culture or change jobs

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21
Q

after a poor performance what changes might be made

A
  • replacing staff
  • restructuring
  • new peocesses and systems
  • mergers and takeovers
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22
Q

what do you constantly need to do to plans

A

review them

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23
Q

what is contingency planning

A

planning for events that might happen e.g terrorist attack or computer virus

24
Q

what is scenario planning

A

managers imagine some scenarios that could happen and then plan them

25
Q

which business does a lot of scenario planning

A

Shell

26
Q

which business recovered well from the 9/11 attacks because of contingency planning

A

lehman brothers

27
Q

what are 2 key influences on the change process

A

leadership and culture

28
Q

what is the difference between leaders and managers

A

leaders look in to the future, have vision, are willing to break the mold ans re innovative. managers focus on the present, stick to the status quo and are implementers

29
Q

what traits did stodgill (1974) say leaders have?

A 
ambitions
assertice
decisive
energetic
persitant
dominant dependable
willing to take repsonsibility
adaptabl to situations
30
Q

what is a considerate style and an initiating structure

A

considerate style - they care about the well being of employees
initiating structure - tellsuboridnates what to do, focuses on defining and plannign work

31
Q

what is autocratic and democratic leadership

A

autocratic - tell employees what to do

democratic - everyone has a say

32
Q

what does the blake mouton grid show

A

5 leadership styles which either have concern for people or production or both

33
Q

what is the contingency approach to leadership?

A

it recognises the right leadership style may consider:

  • the nature of the leader
  • the nature of the subordinates
  • the nature of the task
34
Q

who came up with transfromational and trtansactional leaders?

A

james burn (1978)

35
Q

what are transformational and transactional leaders?

A

transformational - get subordinates to raise their standards

transactional - allows employees to reach their own goals if they contribute to the overall corporate objectives

36
Q

who is a transoformational leader

A

steve jobs

37
Q

according to french and raven what 5 types of power to leaders have

A
  • legitamate power
  • reward power
  • expertise power
  • coercive power
  • referent power
38
Q

what did handy say culture was

A

the way we do things around here

39
Q

what did ouchi say culture was

A

the values, attitudes and beliefs of employees

40
Q

what are the 5 types of cultures

A 
entrpreneurial
beurocratic
customer focused
conservative
short run and long run
41
Q

what is an entrepreneurial culture

A

highly valued if you try something even if it doesn’t work

42
Q

what is a beurocratic culture

A

people stick to the rules and don’t make decisions for themselves

43
Q

what is a conservative culture

A

the business doesnt take risks, they do extensive research before making a decision

44
Q

what is a short run and long run culture

A

being focused on the short term or long term

45
Q

how did deal and kennedy categorize culture

A

into feedback and risk involved

46
Q

what 4 types of cultures did deal and kennedy come up with

A

tough guy matcho
work har play hard
process culture
bet the company culture

47
Q

what id tough guy matcho culture

A

rapid feedback and rewards but high risk e.g the police

48
Q

what is work hard play hard culture

A

rapid feedback and reward low risk environment

49
Q

what is process culture

A

Slow feedback and reward but low risk

50
Q

what is bet the company culture

A

slow feedback reward high risk

51
Q

what 4 types of culture did handy come up with

A

role
task
person
power

52
Q

what did hofstede research

A

116000 employees of a multinational located in 50 countries

53
Q

what 5 factors did hofstede say determined a national culture

A 
power distance
uncertainty avoidance
individualism v collectivism
masculinity v feminity
long term orientation
54
Q

what did johnson and scholes say you can determine a culture by

A 
stories
rituals
symbols
organisational structire
power structure
control system
55
Q

how can you change culture

A
  • change what people value and see as important
  • offer incentives to anyone who accepts change
  • making employees feel they are part of the change
  • warn employees of change
  • provide resources to help people with change e.g training
56
Q

who came up with programmed and non porgrammed decisions

A

simons

57
Q

what is programmed and non porgrammed decisions

A

programmed - regular easy to make decisions

non - big decisions you must research e.g an investment

Business (5 decks)

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