LO5 - BE ABLE TO USE DATA TO MONITOR CHANGE MANAGEMENT IN BUSINESSES Flashcards
1
Q
define quantitative data
A
quantitative data is numerical, it can be used to find patterns and averages
2
Q
define qualitative data
A
qualitative data is non-numerical data, it is used to understand concepts and opinions
3
Q
what are the four functional areas
A
- production
- finance
- human resources
- sales
4
Q
what are the key performance indicators for production?
A
- total output level
- capacity utilization
- labour productivity
- waste level
5
Q
what are the key performance indicators for finance?
A
- profit
- costs
- cash flow
- break-even
- ratio analysis
6
Q
what are the key performance indicators for human resources?
A
- labour turnover
- absenteeism
- punctuality
7
Q
what are the key performance indicators for sales?
A
- sales revenue
- market share
8
Q
what could qualitative data include
A
- customer survey or feedback
- employee feedback
- media coverage on how the business has changed
9
Q
what are four ways that the change management process can be measured?
A
- to make sure the progress is on track/identifying issues
- to identify improvements
- to identify how well managers are managing the change
- to identify when the change management process is complete
