STRATEGIC CHANGE Flashcards
What are the different types of change
Internal change: Changes within the business or organisation
Eternal change: Changes in external environment
Incremental change: When small adjustments are made over a long period of time that do not alter working practices in a significant way
Disruptive change: when sudden and significant alterations occur that affect the way in which a business operates
What are internal causes of and pressures for change
Finance - pressure for shareholders to increase profits, managers looking to improve financial ratios
Marketing - products in portfolio coming to the end of their life cycle
Operations - installation of new production technology to improve efficiency
People- business growth attering HR flow
What are external causes of and pressures fo0r change
Political - impact of brexit on exports
Economic - changes in the economic cycle of product portfolio
Social - Changing attitudes (i.e. health/ obesity)
Technological - digital technology
Legal - national living wage
Ethical - pressure for supermarkets to reduce use of plastic wrapping v
