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BM > unit 4 aos2 o.2 > Flashcards

unit 4 aos2 o.2 Flashcards

1
Q

what is leadership?

A

The ability to positively influence and motivate employees to work towards the achievement of business objectives

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2
Q

Why is it important for managers to demonstrate strong leadership during a period of business change?

A
  • likely to increase the motivation levels of the business’ employees
    = increase the productivity and quality of their work when they’re completing the tasks necessary for the business change to be implemented.
  • likely to decrease the extent to which the business’ employees resist the business change.

Thus increases the extent to which the BC will achieve its intended BO

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3
Q

Ways in which managers can demonstrate strong leadership during period of change: PROVIDING ONGOING COMMUNICATION

A
  • between them and B’s stakeholders about the change
  • it can help increase support for the business change by decreasing the likelihood of fear and confusion about the change spreading amongst the business’ stakeholders.
  • help increase support for the business change by making the business’ stakeholders feel as though they are actively involved in the change.
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4
Q

Ways in which managers can demonstrate strong leadership during period of change: PROVIDING ONGOING SUPPORT

A
  • this support includes counselling and training.
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5
Q

Ways in which managers can demonstrate strong leadership during period of change: UTILSING STRONG INTERPERSONAL AND LISTENING SKILLS

A
  • increase the success of a business change by increasing the ability of the business’ leaders to identify, understand and address any points of resistance to change that exist within the business’ internal and external environment.
  • ALSO can increase the success of a business change by increasing the likelihood of the business’ stakeholders feeling that the business’ leaders are concerned about the welfare of these stakeholders.
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6
Q

Ways in which managers can demonstrate strong leadership during period of change: DEVELOPING A SHARED VISION

A
  • by informing the business’ stakeholders (eg, the business’ employees) of the reasons why the business change is needed, such as the benefits of the change and the consequences of not changing.
  • BY allowing the business’ stakeholders to have input into the creation of the vision.
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7
Q

What is staff training?

A

refers to a business equipping employees with the knowledge and skills required to perform tasks. there are two main types of training:
- on the job & off the job

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8
Q

What is staff motivation?

A

the factors that drive an employee to achieve a goal and the business objectives.
motivation strategies:
- career advancement
-performance related pay
- support
-sanctions

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9
Q

what are management styles/skills?

A

management styles: autocratic, persuasive, consultative, participative & laissez faire

management skills: communication, delegation, leading, interpersonal, decision making

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10
Q

what is cost cutting?

A

the reviewing and the reducing of unnecessary expenses.

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11
Q

how can a business cut costs?

A
  • merging, removing or reducing staff roles or hours
  • shutting down the locations that are underperforming
  • stopping production of stock that has a lot of unsold stock
  • sourcing form cheaper supplier
    recycling + reusing materials in production process
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12
Q

what does increasing investment in tech mean?

A

refers to the implementation of automated and computerised processes for production and operations.
- involves allocating financial resources to purchase tools, programs or machinery to improve operations

CAD, CAM, automated production lines & website development

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13
Q

what is quality management?

A

the implementation of processes that increase the perceived value of a product or service by ensuring they are consistently reliable, durable and free from defect.
- QC, QA, & TQM

DONE TO IMPROVE QUALITY IN PRODUCTION

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14
Q

what is lean production?

A

The systematic process for the elimination of waste in the manufacturing system to improve efficiency and effectiveness whilst simultaneously increasing the value of the goods to the customer.
- JIT, takt, one-piece flow, pull, zero defects etc.

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15
Q

What is redeployment of resources?

A

Redeployment of resources refers to the process of moving/reallocating resources (e.g. natural resources and materials, labour and capital) from one area of the business to another in order to increase efficiency.
these resources can be:
- natural : repurposing or reusing raw material
- labour: transferring employees to another job within B or an entity associated with B
-capital: useing these resouces for different purpose than one they were originally intended for

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16
Q

what is innovation?

A

Innovation is the process of altering and improving or creating new products or procedures
it can provide businesses the opportunity to expand to new markets, meet new customer needs, and improve performance.

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17
Q

Strategies that can be used to seek new business opportunities domestically and globally: PRODUCT DIFFERENTIATION

A

business making its products unique in some way that is valued by customers so as to enable the business to charge a premium price for the products.

DOMESTICALLY: business is trying to differentiate its products from rival businesses in Australia.
GLOBALLY: a business is trying to differentiate its products from rival businesses in countries other than Australia.

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18
Q

Strategies that can be used to seek new business opportunities domestically and globally: OPENING PHYSICAL BRANCH/STORE in NEW LOCATION

A

a location within AUS
or another country

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19
Q

Strategies that can be used to seek new business opportunities domestically and globally: SELLING PRODUCTS ONLINE

A

business using a website to enable customers to buy the business’ products 24 hours a day, seven days a week.
DOMESTICALLY: delivering to customers within aus
GLOBALLY: delivering overseas

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20
Q

SOO what are the strategies to improve performance?

A
  • Staff Training
  • Staff motivation
  • Management styles and skills
  • Investment in technology
  • Improved production quality
  • Cost cutting to gain efficiencies
  • Lean production techniques
  • Redeployment of resources
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21
Q

what is real corporate culture?

A

Shared values and behaviours actually practiced by employees and managers, expressed through informal rules and habits

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22
Q

what is official corporate culture?

A

Shared values and beliefs desired by a business and expressed through elements such as formal rules or symbols

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23
Q

Why is corporate culture important?

A

such changes can affect employees’ approach to work and the organisation’s corporate culture.

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24
Q

some strategies to develop official corporate culture

A

1) publish or update a mission statement
- outlines B puropse and reason, shows E and C b’s aspirations
2) implementing guidelines and regulations around E attire
- provides E a way to identify themselves with their work + uphold a professional image of B
3) establishing or ammending policies and procedures in documented forms
- unifies approaches to Work and outlines steps for dealinng with different circumstances in daily operations

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25
Q

some strategies to develop real corporate culture

A

1) hiring staff of various backgrounds
-creates a diverse B enviroment with broad range of perspectives
2) organizing regular celebrations of E contributions
- unifies E by creating opportunites for recognising high standards
3) change office layout to reflect the desired ways of working
- encourages collaoration between E and greater interactions = ++ive professional relationships formed

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26
Q

What is Senge’s learning organisation ?

A

a business is a Learning Organisation if five principles are present:
- team building
- Building a shared vision.
- Mental models.
- Personal mastery.
- Systems thinking.

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27
Q

What is the link between Senge’s Learning Organisation and periods of business change?

A

f a business is a Learning Organisation during a period of business change ….
- the business is more likely to excel throughout this time period because the business will be more flexible, adaptive and productive than a business that is not a Learning Organisation.

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28
Q

What is the link between Senge’s Learning Organisation and continual transformation?

A

if a business is a Learning Organisation, the business will be continually transforming itself.
This is the case because the business’ managers and employees will be continually learning in an attempt to expand their capacity to achieve the results they desire.

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29
Q

TEAM BUILDING/ learning

A
  • The idea is that individuals learn from each other and group knowledge together.
  • this will achieve improved results + members will grow more rapidly than could have occurred otherwise.
  • To achieve team learning there needs to be discussion (idea presented) and dialogue (conversation that follows).
  • ALSO improve teamwork
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30
Q

Building a shared vision

A

Involves a business’ managers and employees co-creating a ‘shared picture’ of the future they seek to achieve via the business change.
- Involves a business’ managers and employees co-creating a ‘shared picture’ of the future they seek to achieve via the business change.

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31
Q

Mental models

A
  • involves a business’ managers and employees continuously challenging their mental models (ie, the deeply ingrained assumptions and generalizations that influence how the business’ managers and employees understand the world and take action).
  • Also involves a business creating a corporate culture of openness, inquiry and trust because such a culture increases the likelihood of the business’ managers and employees feeling empowered to scrutinise and change the business’ existing assumptions, generalisations, systems and processes.
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32
Q

Personal mastery

A

Involves a business’ managers and employees continually developing new knowledge and skills, and reflecting on their own performance, in order to make regular progress towards achieving the personal vision and goals the managers and employees have set for themselves.
- People are encouraged to challenge the ‘status quo’ + skill development
- training + employee evaluations + supervision

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33
Q

Systems thinking

A

involves a business’ managers seeing the ‘big picture’, with business changes occurring to address patterns that have emerged when the business’ internal and external environment are evaluated as an interconnected whole, rather than as separate parts that operate in isolation.

34
Q

what are the two categories of strategies for managing employee resistance to change

A
  • Low-risk strategies require greater resources (time, money for training etc.) but have a greater chance of success.
  • High risk strategies are a high risk/high reward trade off. They have a lower chance of success but can work more quickly than low-risk strategies.
35
Q

What are the low-risk strategies?

A
  • Communication
  • Support
  • Empowerment
  • Incentives
36
Q

low risk: SUPPORT

A
  • involves a business providing its employees with assistance and/or services (such as counselling and mentoring) during the period of business change.
  • it helps overcome employee resistance to change by helping to decrease the fear and/or stress a business’ employees may feel as a result of the change.

PROVIDED THROUGH: training, communication, counselling and outplacement services

37
Q

low risk: INCENTIVES

A

involves a business providing employees who support the business change with financial and/or non-financial rewards.
- helps overcome employee resistance to change due to the rewards acting as a source of motivation

38
Q

low risk: EMPOWERMENT

A

involves a business giving its employees an active role in the change process by providing the employees with increased authority and responsibilities during the period of business change.
- helps overcome employee resistance by helping to generate amongst the business’ employees a sense of ownership towards the business change, and thus a commitment to carrying out the change.
- helps overcome employee resistance by making the business’ employees feel that the
business’ managers have confidence and trust in the employees, a feeling that tends to increase staff morale and
motivation levels.

39
Q

low risk: COMMUNICATION

A
  • involves a business maintaining open and honest two-way sharing of
    information about the business change throughout the period of change.
  • helps overcome employee resistance to change by increasing the likelihood that each employee will feel that they have a strong understanding of key information relating to the business change, such as what the change is, how it will occur and why it will occur.
  • helps overcome employee resistance to change by enabling employees to
    readily address any misunderstandings or gaps in knowledge they have in relation to the business change via
    asking their managers questions relating to these misunderstandings or gaps.
40
Q

ADVANTAGES of low risk strategies

A
  • long term success because it increases trust and cohesion between managers and employees
  • if E feel valued by B and managers it reduces costs of associated with hiring new employees
41
Q

DISADVANTAGES of low risk strategies

A
  • incentives could be seen as a bribe if not executed properly.
  • not useful in crisis situations because they take longer to be effective
  • may lead to financial costs for B
42
Q

What are the high risk strategies?

A
  • Manipulation
  • Threat
43
Q

high - risk strategy: MANIPULATION

A
  • Reduces employee resistance through influencing a situation using deceit by distorting information and therefore employee understanding of the change.
  • Leaving out details and distorting facts may be used to encourage employees to accept change.
    HIGH RISK bc : a high-risk strategy because if employees discover the truth, it could undermine relationships and cause employees to distrust management.
44
Q

What is co-optation?

A

a form of manipulation where management superficially involve an influential resistor to participate in the change management process to get them to support the change and influence others to do so.

45
Q

High- risk strategy: THREAT

A

Reduces employee resistance through directly or indirectly threaten negative consequences/punishment for resistance to change
- LIKE dismissal, no promotion, no bonus, reduction of work hours, no reference for another job, no pay rise.

HIGH RISK bc: employees will not appreciate being threatened which could undermine relationships and cause employees to distrust management.

46
Q

ADVANTAGES of high risk strategies

A
  • effectiv in high risk situations where C must occure rapidly
  • implentation can be relativly inexpensive
47
Q

DISADVANTAGES of high risk strategies

A
  • may lead to a negative corporate culture bc of E distrust
  • E & M relationship is compremised
  • only effective short term
  • may increase staff turnover and decrease morale and job satisfaction
48
Q

What are three steps of Lewin’s Three Step Change Model?

A
  1. UNFREEZE (initiation)
  2. CHANGE (adoption + adaptation)
  3. REFREEZE (acceptance + use + incorportation)
49
Q

STEP ONE: unfreeze

A

Moves a business into a state where stakeholders are prepared to undergo change.
This can be done by preparing the business for change by identifying and communicating the need for change, removing resistance to change and preparing stakeholders to take on the change.

50
Q

STEP TWO: change

A

moves the business towards the desired state.

51
Q

examples of step two: change

A
  • Support, counselling and training systems may need to be implemented to assist with the smooth transition, as employees may have a high level of fear and anxiety.
  • Employees are able to seek guidance and feedback
  • Try and empower staff to be actively involved
  • Short term wins may also be celebrated to build on the change process.
52
Q

STEP THREE: refreeze

A

consolidating and entrenching changes into the culture of the business and creating a new sense of stability to ensure the change is sustained within the business for the long term.

53
Q

examples of step three: refreeze

A
  • Celebrating success to reinforce the changes that have been made and to help people find “closure” on the change itself.
  • Entrenching and reinforcing change through the development of new policies and processes
  • Develop new job descriptions for the new jobs created
  • Recognizing employees that have made the change and rewarding them
  • Evaluate the change to ensure the business is performing as planned (how?)
54
Q

Effect of change: OWNERS

A
  • owners are often responsible for making major decisions associated with business change
    THUS play a crucial role in ensuring its success
  • may initially suggest the change and will usually have the final say on how transformation will occur
55
Q

positive effect on owner

A

IF CHANGE SUCESSFUL:
- increased return on their investment + greater financial security
- owner may be perceived more positively by E
- provide E opportunities to connect with E and develop stronger interpersonal relationships`

56
Q

negative effect on owner

A

IF CHANGE IS UNSUCESSFUL:
- may experience personal or financial implications
- may become overwhelmed and stressed by the increased workload and responsibilities that may be associated with the unsuccessfulness
- may be resented if employee roles are made redundant or significantly changed.

57
Q

Effect of change: MANAGERS

A
  • they may be responsible for monitoring a specific area of business or its whole.
    THEREFORE, there daily tasks often Involve coordinating employees and B activities that enable achievement of the objective
  • DURING CHANGE: they’re usually required to lead, support and implement the change within the business and thus can be affected in many ways
58
Q

negative effect on managers

A

IF CHANGE IS UNSUCESSFUL:
- increased workload = stess = negative impact on M wellbeing
- possible loss of job
- reduced role s and responsibility = less authority and control

59
Q

positive effect on managers

A

IF CHANGE SUCCESSFUL:
- financial or non-financial rewards
- increased authority and responsibility can improve a manager’s skills
- opportunities to develop new skills or advance in career

60
Q

effect of change: EMPLOYEES

A
  • are responsible for preforming tasks that assist the achievement of objectives

WHEN BUSINESS UNDERGOING change:
- they are typically the most affected stakeholders
- so their roles and responsibilities can be completely transformed.

61
Q

negative effect on employees

A
  • may lose their jobs = loss in financial security
  • may need to develop new skills and knowledge to keep their job = increased stress levels
61
Q

positive effect on employees

A

IF CHANGE IS SUCESSFUL:
- new opportunities and responsibilities = improved job satisfaction
- may be able to build long term job security = improved satisfaction
- may receive better conditions or rewards

62
Q

effect of change: SUPPLIERS

A
  • those who provide raw materials and resources to the B
  • of change involves altering the production process = major effect on suppliers of B
63
Q

positive effect on suppliers

A
  • their demand may increase if business requires a greater amount of reources to meet its production needs
64
Q

negative effect on supplier

A
  • the change may require the B suppliers to involuntarily adjust their processes
  • or the supplier may not even supply got the business anymore, bc B changed
65
Q

negative effect on community

A
  • may increase local unemployment rates poverty levels
  • if there is store closure or relocation, customer traffic and sales may decrease
65
Q

effect of change: COMMUNITY

A

When a business conducts any of its activities, it can inadvertently affect the general community.
- although the general community do not directly interact with the business, they are still indirectly impacted by the decisions and changes that it chooses to undertake.

66
Q

positive effect on community

A
  • change may create new job opportunities
  • or mean that B is expanding or opening new stores
  • if change is successful = more profits = more money = possible donations to local social charities
  • if the change reduces waste = positive environmental impact + improvement of overall living standards for general community
67
Q

what is corporate social responsibility

A

it refer to an organisation recognizing its obligation to go above and beyond that required by law to limit its negative effect on the wider community and environment.

68
Q

What are CSR considerations?

A

The CSR consideration is the social, economic and/or environmental issue to which the business is going to respond.

69
Q

CSR considerations relating to EMPLOYEES: WHY??

A

need to consider promoting their wellbeing during change
- bc the change can lead to E having their roles changes abruptly, losing job + wages
- can lead to increased levels of stress and fear bc their financial and job status impacts family

70
Q

CSR considerations relating to EMPLOYEES: EXAMPLES

A
  • offering outplacement services to help E find alternative employment
  • offering counselling to help reduce anxiety + fear
  • provide extra training and support
  • engage in two way communication to help reduce any misunderstandings
  • reallocate E to different roles (so they maintain their job and financial security)
71
Q

CSR considerations relating to GENERAL COMMUNITY: WHY??

A

B can consider them by reducing or eliminating practices which are detrimental to society
- bc change can result in GC facing low employment rates and economic activity
- more unemployed = level of crime and poverty increases
so B need to consider to conduct their practices in SR and ethical manner so general community continues to develop

72
Q

CSR considerations relating to GENERAL COMMUNITY: EXAMPLES

A
  • choosing local supplier to create employment opportunities and improve local economy
  • redeploy employees to other areas of B to minimize unemployment rates
  • source materials from business that provides employees with fair pay and work conditions
73
Q

CSR considerations relating to EMPLOYEES: EXAMPLES

A
  • purchase accurate technology which reduce number of errors that occur during production can minimise B waste
  • choose local supplier = reduces amount of carbon emissons
  • build facility that creates minimal pollution and minimal impact on local wildlife
74
Q

Why is it important to review the implemented change?

A

If changes that have been implemented are not evaluated and reviewed, then there is no way to determine whether the changes or transformation have been successful or whether the business needs to make any further changes or modifications.

75
Q

by reviewing initial KPIs, businesses can

A
  1. Analyse the size and extent of any transformation
  2. Identify the areas we had the most success in and the ones which require additional effort or time to be achieved
  3. Consider an alternative management strategy if results not achieved
  4. Uncover other area which may be unintentionally negatively affected
76
Q

how is reviewing KPIs an indicator to evaluate change?

A
  • because they provide a quantitative or quantifiable basis to make judgement on performance
  • provide data to identify treads, provide warning signs of change that’s not effective or failing to meet obkectives
  • can be compared to objectives allowing strategies to be developed to correct problems
  • can be compared to previous performance, helping the business to celebrate success of change and report success to key stakeholders
  • can be benchmarked against competitor achievement or world’s best practice
77
Q

when should reviewing of change occur?

A

regularly and on a number of levels:
- whole business, department or section, teams, individual employees.

78
Q
A

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