Prelim Flashcards
Technology & it’s impact on Amazon and it’s Stakeholders (types) (case study)
- Most info will be in the case study
- Types of stakeholder:
- Customers
- Managers
- Employees
- Shareholders
- Suppliers
How to answer force field diagrams
- Read the case study then give drivers and resistors for change (analyse points)
- Assets for change (new sub-heading) give ways that the company are able to make those changes (assets at their disposal)
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Technology and how it impacts Amazons stakeholders (case study)
most info will be in the case study, this is rough guessing
- packing technology will allow employees to pack quicker, meaning higher production rate meaning more profit
- Website, the business having an easy to use website will allow the customer to buy what they need and possibly return
- Scanning technology - easy to identify products that are ordered, getting orders out on time, good customer reviews
Costs and benefits of Amazon overtaking wholefoods (case study)
Benefits to 3rd parties of using Amazon European Fulfilment (case study)
Impact on UK economy & UK organisations of increasing FDI in ASEAN nations (Trading) (Adv/Dsv)
Advantages:
- Access to developing countries with growing living standards (aspirational population)
- Access to over 700 million customers, much larger than home market
- creating trade relationships often reduces/removes tariffs on imported goods
- Allows for the sharing of expertise and knowledge between business and industries
- Access to cheaper operating resources such as Tech components or labour
- Access to new markets allows for business growth = increased revenue = retained profits = being able to spread risk
Disadvantages:
- Particular countries can be politically unstable and socially unstable (Risky)
Benefits to the Business& Employees of team building exercises
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Actions that governments can take during a national crisis
Management Styles: Henry Fayol - 5 management functions
- Planning - developing future activities to secure success through meticulous planning & not leaving anything to chance
- Organising - Recruiting & retaining the best employees, ensuring a ,mix of operational and strategic labour and ensuring the org. of resources
- Commanding - Supervising employees to ensure the company reaches its potential
- Co-ordinating - Ensure all departments are in sync resulting in an efficient workflow. Reduce waste, increase efficiency
- Controlling - Ensuring that all managers & employees are working towards achieving a common goal, on time and within a budget.
Gantt charts (Costs and Benefits) Benefits
- Allows the business to breakdown complex problems into manageable actions
- Allows a structured approach change rather than reacting to day-to-day events/problems/tasks
- Allows tasks to be completed/planned in the most effective order minimising job completion time
- Allows managers to minimise meetings as chart can be used to communicate work/tasks
- Can be used as a motivational tool as employee’s will always want to be ahead of progress
Gantt Charts (Costs and Benefits) Costs
- Need to purchase & train employees to use such software
- Can be time consuming and complex to breakdown large tasks & create chart
- Can be demotivating being micromanaged by a Gantt chart
- The chart does not provide solutions to problems, rather just outlines tasks to be done
- Must be updated continually to be of any value. can’t fall behind actual work completed
Methods that managers can use to implement changes (Costs and benefits)
- Top down
- Participative
- Action centred
- Piecemeal initiatives
- The use of change agents
Implementing Changes ( + & - ) TOP DOWN
Advantages:
- Top-level management have a holistic overview and can make changes in line with business objective.
- This method works best in a crisis as fast decision making is needed
- If change is inevitable, this is an efficient method of implementation, especially when the factor is external
Disadvantages:
-Staff resistance can be high, if they feel they are being overlooked or undervalued
- Employees on the ground with the skills needed but this method does not take that into account
- May result in high levels of staff turnover
- May create a culture of low morale
Implementing changes ( + & - ) Participative
Advantages:
- Change is more likely to be successful as everyone has been involved
- This fosters trust between management and employees
- Reduces staff resistance and improves morale
- Allows for staff skills, knowledge and experience to contribute to the strategy
Disadvantage:
- They are often time consuming, involving lengthy discussions through quality circles and focus groups
- Trust can be easily be damaged, either management retract the empowerment or employees abuse it
- Not effective in emergencies or crisis
Implementing changes ( + & - ) Action centred
Advantages:
- Allows a business to try out possible solutions on a small scale before making a permanent change
- Explores different options and therefore contingency strategies are often formed
- Allows employees to have an input and pilot aspects of change leading to better decisions
Disadvantages:
- This doesn’t work when the change is external e.g., government legislation
- Piloting ideas can be a lengthy and expensive process
- Often used as continuous improvement and may not be suitable for large changes
