Unit 4 AOS 2 Flashcards
List management strategies that respond to key performance indicators
staff training, staff motivation, change in management styles or management skills, increased investment in technology, improving quality in production, cost cutting, initiating lean production techniques redeployment of resources (natural, labour and capital)
list strategies to seek new opportunities both domestically and globally
New locations
Online Sales
Exporting
Differentiation
Define change leadership
refers to influencing or motivating people to work towards the achievement of business objectives through the process of implementing approaches that prepare an organisation undergoing transformation.
Why is leadership important during change?
Change –> resistance
Leadership prepares people for change + builds commitment to change + ensures approach is systematic and well considered
What are the attributes of effective leadership during change
- build shared vision
- provide ongoing communication
- provide ongoing support
What factors are needed for effective leadership
Building and maintaining relationships with employees, management, shareholders and external stakeholders – build trust
Cultivating teamwork, coaching and mentoring
Developing talent within the organisation
Open communication
How do you select a management strategy to respond to KPIs
- need to know aim
- need to know obstacles to acheiving aims
What KPIs would suggest staff training is required?
Increased customer complaints
Increased workplace accidents
Increased level of wastage
Decreased sales, market share, profit
What KPIs would suggest staff motivation strategies are required?
Level of staff turnover, rate of staff absenteeism, number of customer complaints, decline in rate of productivity growth
What KPIs would suggest a change in management styles and skills is required?
Staff turnover, staff absenteeism, rate of productivity growth
What KPIs would suggest investment in technology is required?
Rate of Productivity Growth
Net Profit
Number of workplace accidents
Number of sales/percentage of market share
Number of customer complaints
What KPIs would suggest improvement in quality in production is required?
Rate of productivity growth, number of sales, net profit figures percentage of market share level of wastage number of customer complaints
What KPIs would suggest lean production strategies are required?
Net profit, productivity, number of sales, level of wastage, percentage of market share, rate of productivity growth
What KPIs would suggest Cost Cutting is required?
Net profit figures
Levels of wastage
Rate of productivity growth
Number of sales
Percentage of market share
What KPIs suggests that redeployment of resources is required?
Net profit
Levels of wastage
Rate of productivity growth
Number of sales
Percentage of market share