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3/4 business > u4 aos2 > Flashcards

u4 aos2 Flashcards

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WSET ® Level 4 D2 Business of Wine flashcards
1
Q

leadership in change management

A

the ability to positively influence and motivate employees towards achieving business objectives during a transformation

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2
Q

management strategy to respond to KPIs - staff training

A

can be on-the-job or off-the-job and involves a business equipping employees with the knowledge and skills required to perform work tasks

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3
Q

management strategy to respond to KPIs - staff motivation

A

the willingness of an individual to expend energy and effort in completing a task

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4
Q

management strategy to respond to KPIs - change in management styles

A

involves a manager altering the way they direct and communicate with employees

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5
Q

management strategy to respond to KPIs - change in management skills

A

involves a manager altering the way they approach business tasks and collaborate with employees

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6
Q

management strategy to respond to KPIs - cost cutting

A

the process of reducing business expenses

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7
Q

management strategy to respond to KPIs - increased investment in technology

A

involves implementing automated and computerised processes into a business’s operations system

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8
Q

management strategy to respond to KPIs - improving quality in production

A

involves a business implementing processes that increase the perceived value of its good or service

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9
Q

management strategy to respond to KPIs - initiating lean production techniques

A

involves a business adopting lean management strategies to systematically reduce waste in all areas of production while also improving customer value

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10
Q

management strategy to respond to KPIs - redeployment of resources

A

involves reallocating natural, labour, and capital resources to different areas of the business to improve productivity and effectiveness

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11
Q

management strategy to respond to KPIs - innovation

A

the process of altering and improving or creating new products or procedures

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12
Q

management strategy to respond to KPIs - global sourcing of inputs

A

involves a business acquiring raw materials and resources from overseas suppliers

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13
Q

management strategy to respond to KPIs - overseas manufacture

A

involves a business producing goods outside of the country where its headquarters are located

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14
Q

management strategy to respond to KPIs - global outsourcing

A

involves transferring specific business activities to an external business in an overseas country

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15
Q

corporate culture

A

shared values, beliefs and practices of people within a business

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16
Q

official corporate culture

A

the desired culture that a business wishes to establish

17
Q

real corporate culture

A

the actual or prevailing culture that exists within a business

18
Q

learning organisation

A

an organisation that facilitates the growth of its members and continuously transforms itself to adapt to changing environments

19
Q

systems thinking

A

a management approach that considers the interrelationship between the parts of a whole system

20
Q

mental models

A

existing assumptions and generalisations that must be challenged so that learning and transformation can occur in an organisation

21
Q

shared vision

A

an aspirational description of what an organisation and its members would like to achieve

22
Q

personal mastery

A

the discipline of personal growth and learning, aligned with one’s values and purpose

23
Q

team learning

A

the collective learning that occurs when teams share their experience, insights, knowledge, and skills to improve practices

24
Q

low-risk strategies

A

measured management approaches that gradually encourage employees to accept and participate in a business change

25
Q

communication as a low risk strategy

A

involves managers openly and honestly transferring information to employees, and listening to their feedback so that employees are fully aware of the reasons for, and impacts of an upcoming change

26
Q

empowerment as a low-risk strategy

A

involves managers providing employees with increased responsibility and authority during times of change

27
Q

incentives as a low-risk strategy

A

involves managers providing financial or non-financial rewards to encourage employees to support change

28
Q

support as a low-risk strategy

A

involves managers providing employees with assistance as they move from current to new practices

29
Q

high-risk strategies

A

autocratic management approaches used to influence employees to quickly accept and follow a business change

30
Q

manipulation as a high-risk strategy

A

involves influencing employees to support a proposed change by providing incomplete and deceptive information about the transformation

31
Q

threat as a high-risk strategy

A

involves forcing employees to follow a proposed change by stating that they may or will cause harm to them if they fail to do so

32
Q

lewin’s three-step change model

A

a process that can be used by a business to implement change successfully

33
Q

the unfreeze step

A

involves moving a business to a state where stakeholders are prepared to undergo change

34
Q

the change step

A

involves moving a business towards its desired state

35
Q

the refreeze step

A

involves ensuring a change is sustained within a business for the long term

36
Q

corporate social responsibility

A

the ethical conduct of a business beyond legal obligations, and the consideration of social, economic, and environmental impacts when making business decisions

37
Q

considering employees

A

involves a manager addressing factors that promote staff wellbeing during periods of business change

38
Q

considering the general community

A

involves a business reducing or eliminating practices that are detrimental to the wellbeing of society

39
Q

considering the environment

A

involves a business reducing negative impacts of its activities on the planet

3/4 business (8 decks)

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