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Question 1

business change

Answer 1

the alteration of behaviours, policies, and practices of a business

Question 2

proactive approach

Answer 2

when a business changes to avoid future problems or take advantage of an opportunity to gain a competitive advantage

Question 3

reactive approach

Answer 3

when a business undertakes change in response to a situation or crisis

Question 4

key performance indicators (KPIs)

Answer 4

criteria that measure a business’s efficiency and effectiveness in achieving its different objectives

Question 5

percentage of market share

Answer 5

measures the proportion of a business’s total sales, compared to the total sales in the industry, expressed as a percentage figure

Question 6

net profit figures

Answer 6

calculated by subtracting total expenses incurred from total business revenue earned, over a specific period of time

Question 7

rate of productivity growth

Answer 7

the change in the total output produced from a given level of inputs over time, expressed as a percentage figure

Question 8

number of sales

Answer 8

the quantity of goods and services sold by a business over a specific period of time

Question 9

number of customer complaints

Answer 9

the number of customers who notified the business of their dissatisfaction over a specific period of time

Question 10

rate of staff absenteeism

Answer 10

the average number of days employees are not present when scheduled to be at work, for a specific period of time

Question 11

level of staff turnover

Answer 11

the percentage of employees that leave a business over a specific period of time and must be replaced

Question 12

number of workplace accidents

Answer 12

measures the amount of injuries and unsafe incidents that occur at a work location over a specific period of time

Question 13

level of wastage

Answer 13

the amount of inputs and outputs that are discarded during the production process

Question 14

number of website hits

Answer 14

the amount of customer visits that a business’s online platform receives for a specific period of time

Question 15

force field analysis

Answer 15

a theoretical model that determines if businesses should proceed with a proposed change

Question 16

driving forces

Answer 16

factors affecting the business environment that promote and support business change

Question 17

restraining forces

Answer 17

factors that resist a business change or actively try to stop it

Question 18

weighting

Answer 18

the process of scoring and attributing a value to the driving and restraining forces

Question 19

ranking

Answer 19

involves arranging the forces in order of value and determining the total score of driving and restraining forces

Question 20

driving forces.

Answer 20

managers, employees, pursuit of profit, reduction of costs, competitors, legislation, technology, innovation, societal attitudes

Question 21

restraining forces.

Answer 21

managers, employees, legislation, organisational inertia, time, financial considerations

Question 22

organisational inertia

Answer 22

the tendency for a business to maintain established ways of operating

Question 23

porter’s lower cost strategy

Answer 23

involves a business offering customers similar or lower-priced products compared to the industry average, while remaining profitable by achieving the lowest cost of operations among competitors

Question 24

porter’s differentiation strategy

Answer 24

involves offering customers unique services or product features that are of perceived value to customers, which can then be sold at a higher price than competitors