3.6 - Managing Change Flashcards
(11 cards)
Business continuity
A plan for a b to continue operating after a serious incident
Transformational leadership
Ability to implement vision thru radical policies + strat to bring about a positive change
Contingency plan
Course of action designed to help b respond successfully to a major future event that may or may not happen
Risk acceptance
Where the full cost of mitigation is greater than the cost of the risk itself
Risk assessment
Evaluate potential risks that may be involved in an activity that a b proposes to undertake, ensure compliance with health and safety legislation
Risk avoidance
Cease to follow particular action altogether
MNC pull out of unstable country
Risk limitation
Company accept data storage may fail avoid long long period of failure by having back-ups
Risk mitigation
Assess and prioritise risks and plan responses to deal with the impact of these risks on the op of b
Risk transference
Involve of handing risk off to willing 3rd party.
Numerous comp outsource op such as customer service, payroll
Scenario planning
Process of anticipating poss change in b situation and devise ways of dealing with them
Succession planning
HR process for develop new leaders who can replace old when they leave, retire or die
