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Business A-Level > Unit 10 > Flashcards

Unit 10 Flashcards

1
Q

What is the theory used for managing change?

A

Lewin’s force-field analysis

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2
Q

What can Lewin’s force-field analysis be used for?

A
  • investigate the balance of power involved in an issue
  • identify the key stakeholders on the issue
  • identify opponents and allies
  • identify how to influence the target groups
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3
Q

Draw the Lewin’s force-field analysis?

A

-

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4
Q

What does Lewin’s force-field analysis provide?

A

an overview of the balance between force driving change in a business and the forces resisting change, using a scoring system on both sides ; for change and against

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5
Q

What are some examples of forces driving for change (internal) ?

A
  • keeping up competition
  • increasing number of customer complaints
  • poor performance
  • desire to improve
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6
Q

What are some examples of forces driving for change (external) ?

A
  • increase demand for better quality
  • greater competition
  • high costs
  • legislation
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7
Q

What are some reasons why changes are resisted?

A
  • poor management
  • lack of funds
  • reluctant staff to change their ways
  • fear of the unknown
  • misunderstanding of the need for or purpose of change - communications problems and inadequate information
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8
Q

Why are some businesses better at adapting to change?

A

some businesses are better at responding to need for changes due to being more flexible

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9
Q

How can a business become more flexible?

A

delayer
restructure
flexible employment contracts

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10
Q

What is restructuring the business?

A

when a business reorganises its functions

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11
Q

What can managing data effectively mean for managers?

A
  • identify changes before or as they happen
  • develop suitable strategies to respond to or prepare for change
  • evaluate the effectiveness of the strategies adopted
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12
Q

What are the problems with strategy?

A

It requires the ability to :

  • identify what really matters and ask the key questions
  • make judgements on the importance of issues and then prioritise them in a plan
  • persuade others that the plan is right and then to make it happen
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13
Q

What are the difficulties of strategic decision making?

A
  • risky and a high level of uncertainty
  • the decision hasn’t been made before - no point of reference
  • unknown for a period of time whether the decision was correct
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14
Q

Why do strategic decisions go wrong?

A
  • wrong objectives are set
  • data may not be easily available
  • data may be badly nalsyed
  • the implementation can go wrong
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15
Q

What is the difference between planned and emergent strategy?

A

Planned strategy is where the managers tend to implement whereas emergent is strategy that develops over time

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16
Q

What is strategic drift?

A

occurs when the strategy of the business no longer matches with the environment in which it operates

17
Q

What can cause strategic drift?

A
  • failing to adapt to different environmental conditions
  • strategy hasn’t changed fast enough to keep up with what’s happening outside of the business
  • failure to identify the changes or failure to react quickly enough
  • denial - managers deny there’s a problem
18
Q

When can divorce between ownership and control occur?

A

when the owners of a business do not control the day-to-day decision being made

19
Q

What is corporate governance?

A

when there are systems and processes that are in place to monitor and control how a business is run

20
Q

What is contingency planning?

A

when a business plans for possible but unlikely events

21
Q

What are the bad things with contingency planning?

A
  • could be a waste of materials as what is being planned for may never happen
  • a business can’t plan for everything so managers must decide what the key issues to focus on
22
Q

What are the 4 phases of strategic drift?

A
  • incremental change
  • strategic drift
  • flux
  • transformational change or death
23
Q

What happens in the incremental change phase?

A
  • little change in the external environment
24
Q

What happens in the strategic drift phase?

A
  • rate of change in the external environment starts to accelerate
25
Q

What happens in the flux phase?

A
  • characterised by a management indecision
  • there is now a gap between what the market expects and what they are delivering
  • management may recognise the gap and alter the strategy
26
Q

What happens in the transformational change or death phase?

A
  • either management recognise the need for a transformational change in strategic direction, or the business fails.
  • it often takes new, external leadership for this recognition to be made and the relevant strategic change programme implemented

Business A-Level (11 decks)

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