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Busi 6th ch16
| Question | Answer |
|---|---|
| Internal changes that impact an organisation (Headings) | 1. Leadership changes 2. Adoption of technology 3. Restructuring or downsizing. 4. Change in business model or strategy. 5. Cultural or organisational |
| Internal changes that impact an organisation (Explanations) | 1. Leadership changes; A new leader can bring a different vision, management style and set of goals. 2. Adoption of technology; Introducing new systems or equipment to improve efficiency or stay competitive. 3. Downsizing; Financial challenges or changes |
| External changes that impact an organisation (Headings) | 1. Market trends and consumer expectations. 2. Economic trends. 3. Legal and regulatory changes. 4. Digital disruption and transformation. 5. Competitions innovation |
| External changes that impact an organisation (Explanations) | 1. Market trends and consumer expectations: Consumer habits, preferences and social values are constantly changing. 2. Economic trends; Changes in inflation, interest rates, or employment levels affect how much people spend and how much it costs to run a |
| Reasons for resistance to change in an organisation (Headings) | 1. Fear of job losses. 2. Fear of failure. 3. Inertia |
| Reasons for resistance to change in an organisation (explanations) | 1. Fear of job losses; When businesses introduce new technology, outsource production, or face competitor pressure to cut costs, employees may fear their jobs are at risk. 2. 2. Fear of failure Employees may worry that they lack the skills, training, or c |
| Identify the practices that promote innovation & intrapreneurial thinking (Headings) | 1. Leadership culture that encourages risk-taking. 2. Provide training and resources to staff. 3. Use of teamwork and collaboration. 4. Recognition and rewards for innovation |
| Identify the practices that promote innovation & intrapreneurial thinking (Explanations) | 1. Leaders should promote a workplace where employees feel secure enough to take smart risks without fear of being punished for failure. 2. Organisations need to invest in innovation by providing adequate funding, time and skills development to enable the |
| Outline a range of approaches which may help to overcome resistance to change | 1. Lead by example; Staff should see that leadership are fully on board. 2. Open communication & consultation; Explaining why change is happening and involving staff in decisions. 3. Training and resource support; Providing staff with necessary tools and |
| Outline what is meant by strategic planning and appreciate the importance of strategic planning as an ongoing process. | Strategic planning is the ongoing process of defining an organisation's long-term goals and determining the best way to achieve them, taking into account the internal and external environments. |
| Steps involved in strategic planning (Headings) | 1. Mission statement. 2. Analyse internal and external environment. 3. Set the long-term plan - create strategic plan. 4. Break long-term plan into smaller chunks - tactical plans. 5. Create implementation plans |
| Steps involved in strategic planning (Explanations) | 1. Mission statement; This is an overall visionary document for the business outlining its core ethos and values. 2. Analyse; Before setting long-term goals, a business needs to understand both its internal strengths and weaknesses and the external opport |
| The importance of strategic planning as an ongoing process | Strategic planning is not a one-off event; it is an ongoing process that must be regularly reviewed, updated, and adapted. As circumstances change or new information emerges, the original plan may need to be reshaped. Ongoing strategic planning allows a b |
| Describe the benefit of strategic planning for an organisation (Headings) | 1. Increased clarity and direction. 2. Increased ability to manage change. 3. Increase resource efficiency. 4. Increase competitive advantage |
| Describe the benefit of strategic planning for an organisation (Explanations) | 1. Increased clarity and direction; Strategic planning gives a business a clear, long-term goal, helping leaders and middle management make aligned and consistent decisions. 2. 2. Increased Ability to Manage Change; Having a strategic plan in place helps |
| The importance of planning for change (Headings) | 1. Reduces uncertainty and risk. 2. Improves decision making. 3. Increases chances of success |
| The importance of planning for change (Explanations) | 1. Reduces Uncertainty and Risk; Planning helps a business prepare for the unexpected, such as a supply chain failure or a disruption at their premises. 2. Improves Decision-Making When facing change, leaders need clear priorities to guide their decisions |
| Force-field analysis | An approach used to identify and analyse forces which drive and inhibit change. Forces can be both internal and external. |
| Method of conducting a force-field analysis | 1. Define the strategic plan clearly. 2. Identify the driving and restraining forces for that change. 3. Assign a score or weight to each force. 4. Analyse the results |
| Driving forces in favour of change (Force-field analysis) | 1. Technology. 2. Change in market trends. 3. Higher demand. 4. New leadership |
| Resisting forces against changes | 1. Changing market trends. 2. Lower employee satisfaction. 3. Increased commuting cost |
| Explain what is meant by contingency planning in terms of crisis management in an organisation. | A contingency plan is a backup plan that an organisation prepares in advance to deal with unexpected events or emergencies that could disrupt business operations. It outlines the steps a business will take if something goes wrong, helping to protect staff |
| Importance of contingency planning for effective crisis management | 1. Respond quickly in a crisis. 2. Protect staff & assets. 3. Maintain operations. 4. Minimise damage |
| Key factors to consider when developing a contingency plan (Headings) | 1. Cost. 2. Timing. 3. Risk. 4. Communication plans |
| Key factors to consider when developing a contingency plan (Explanations) | 1. Cost; A business should weigh up the cost of preventing the crisis from happening or preparing for it in advance. 2. Timing; The more urgent or time-sensitive the risk, the more detailed the plan needs to be so that the business can respond effectively |
Created by:
Louie Masterson