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Business Management > AOS5 > Flashcards

AOS5 Flashcards

1
Q

Leadership in change management

A

______ is the ability to positively influence and motivate employees towards achieving business objectives during a transformation

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2
Q

Leadership strategy #1

A

Building a shared vision where they act to inspire employees and inform them of reasons and benefits of change, as well as the consequences of not changing

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3
Q

Leadership strategy #2

A

Providing ongoing communication with clear instructions to employees and instilling them with trust and confidence as they move from current to new practices

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4
Q

Leadership Strategy #3

A

Providing ongoing support through counselling, training, and consultation where they aim to coach and mentor employees through the change process

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5
Q

Staff Training

A

Staff training can be on or off-the-job training and involves a business equipping employees with the knowledge and skills required to perform work tasks

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6
Q

Staff Training + customer complaints

A

Establishes an expected standard of performance and employee conduct, allowing for improvements in the quality of a good or service, leading to more satisfied customers

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7
Q

Staff training + workplace incidents

A

Ensures employees are equipped with the skills to handle and operate equipment safely, contributing to a safer workplace

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8
Q

Staff training + sales

A

equips employees with the knowledge and skills required to communicate the value of a good or service to customers and promote sales

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9
Q

Staff training + net profit

A

provides employees with the knowledge and expertise to deliver high-quality customer service and create a positive customer experience, encouraging repeat purchasing from customers, leading to increases in revenue

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10
Q

Staff training + market share

A

provides employees with the knowledge and skills to deliver a unique customer experience that provides the business with a competitive advantage and allows a greater proportion of sales to be captured within its industry

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11
Q

Staff training + productivity growth

A

equips employees with the knowledge and skills to perform tasks faster allowing for improvements in efficiency and therefore, productivity

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12
Q

Staff training + staff turnover

A

motivates employees and creates feelings of value as the business provides them with opportunities for personal growth

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13
Q

Staff training + staff absenteeism

A

motivates employees in their jobs as they have the knowledge and skills required to complete their work to a high standard

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14
Q

Staff training + website hits

A

employees may be provided with greater knowledge and skills, allowing them to deliver a higher quality good or service, which may improv3e customers’ perception of the business. As a result, more customers are interested in and engaging with the business’s online site

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15
Q

Staff Motivation

A

Motivation is the willingness of a staff member to expend energy and effort in completing a task

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16
Q

Staff motivation + staff turnover

A

motivating employees can provide them with a greater sense of achievement and increase their commitment to the business as managers recognise their efforts to achieve objectives

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17
Q

Staff motivation + staff absenteeism

A

motivating employees can increase their willingness to show up to work and complete work tasks as they are provided with a greater support and rewards

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18
Q

Staff motivation + customer complaints

A

motivating employees can increase their commitment and willingness to improve the quality of a good or service, enhancing the customer service experience

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19
Q

Staff motivation + productivity growth

A

motivated employees may be more willing to increase the efficiency and effectiveness of the production process to achieve business objectives, hence improving productivity

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20
Q

Staff motivation + market share

A

motivated employees may deliver higher quality goods and services to customers and provide them with a unique customer experience that enhances the competitiveness of the business and allows a greater proportion of sales to be captured within its industry

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21
Q

Staff motivation + sales

A

motivated employees may be more willing to enhance their product knowledge and contribute innovative ideas that increase a business’s competitive advantage and attract more customers

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22
Q

Staff motivation + website hits

A

motivated employees may deliver a higher quality customer service, encouraging customers to engage with businesses online

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23
Q

Change in management styles

A

A change in management style involves a manager altering the way they direct and communicate with employees

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24
Q

change in management style + staff turnover

A

adopting a less restrictive management style promotes employee involvement in decision making. This encourages employees to feel increasingly valued and considered in the workplace, allowing the business to have a greater employee retention

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25
Q

Change in management style + staff absenteeism

A

adopting a less restrictive management style can increase employee self-confidence when completing work tasks and create strong interpersonal relationships in the workplace. This allows employees to feel trusted by their manager and more connected to the business, encouraging them to regularly attend work

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26
Q

Change in management style + productivity growth

A

adopting a more restrictive management style encourages employees to perform efficiently and remain on task, improving a business’s productivity

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27
Q

Change in management style + net profit

A

adopting a more restrictive management style increases the ability of the manager to utilize the business’s resources in an optimal manner. This can reduce the number of resources wasted, leading to a reduction in expenses and improvements in profit

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28
Q

Change in management style + workplace accidents

A

adopting a more restrictive management style increases a manager’s ability to provide direct instructions to employees and demonstrate how tasks must be completed. This ensures employees are properly shown how to use equipment, therefore reducing the likelihood of injury or illness from unsafe work practices

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29
Q

Change in management skills

A

A change in management skills involves a manager altering the way they approach business tasks and collaborate with employees

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30
Q

Change in management skills + staff turnover

A

utilising management skills that incorporate employee input, such as interpersonal, delegation and communication, can allow employees to feel valued, connected, and trusted in the business as managers take the time to develop relationships with and give responsibility to employees. This can increase a business’s ability to retain its employees

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31
Q

Change in management skills + staff absenteeism

A

utilising management skills that create a positive workplace environment such as interpersonal and leading, can enourage the development of positive relationships and enable employees to feel connected to the business as they are inspired by a shared vision. Therefore, employees are more likely to attend work as they align with the business’s values

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32
Q

Change in management skills + productivity growth

A

utilising management skills that create structured and efficient processes, such as planning and decision making, can ensure employees understand their role and remain on-task to complete their work, which can increase their efficiency and hence, their productivity

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33
Q

Change in management skills + net profit

A

utilising management skills that provide a manager with a high degree of control, such as planning and decision making, can ensure than employees understand their role and remain on task to complete their work, which can increase their efficiency

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34
Q

Change in management skills + workplace accidents

A

utilising management skills that clearly convey instructions and work tasks, such as communication, can ensure that employees are aware of their responsibilities and understand how to complete their roles safely, reducing the likelihood of injury from unsafe work practices

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35
Q

Cost cutting

A

cost cutting is the process of reducing business expenses

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36
Q

cost cutting + net profit

A

removing unnecessary expenses can increase a business’s net profits

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37
Q

cost cutting + wastage

A

eliminating resources that do not add value to the operations system can minimize the number of inputs required in production, therefore reducing the amount of unused resources

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38
Q

cost cutting + productivity growth

A

merging the roles of employees and streamlining operations processes can reduce the number of inputs required in the production process, therefore increasing a business’s overall efficiency

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39
Q

Increased investment in technology

A

Increased investment in technology involves implementing automated and computerized processes into a business’s operations system

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40
Q

Increased investment in technology + sales

A

CAD and AI allow for greater levels of customer engagement and can improve a business’s ability to respond to customer needs

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41
Q

Increased investment in technology + market share

A

CAD can improve a customer’s willingness to purchase goods or service as it can allow the customer to be involved in the design process

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42
Q

Increased investment in technology + net profit

A

APL, robotics, CAD, CAM techniques, AI, and online services can all decrease production costs as the number of employees required during the production process is reduced

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43
Q

Increased investment in technology + website hits

A

Online services can be used to provide customers with a platform to conveniently purchase products or book services online, increasing the number of customers frequenting a business’s website

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44
Q

Increased investment in technology + wastage

A

APL, robotics, CAD, and CAM techniques can minimize the number of errors in production. reducing the number of defective products produced means fewer resources discarded, reducing levels of wastage

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45
Q

Increased investment in technology + workplace accidents

A

APL, robotics, and CAM techniques can minimize the number of dangerous tasks that employees are required to perform, increasing their safety at work

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46
Q

Increased investment in technology + customer complaints

A

APL, robotics, CAD, and CAM techniques can minimize the number of errors and defects in production, whilst improving the overall quality of a business’s products, enhancing customer satisfaction

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47
Q

Improving quality in production

A

Improving quality in production involves a business implementing processes that increased the perceived value of its good or service

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48
Q

Improving quality in production + customer complaints

A

higher quality goods and services can increase customer satisfaction

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49
Q

Improving quality in production + sales

A

Higher quality goods and services can better satisfy customer needs and increase the likelihood of repeat purchasing

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50
Q

Improving quality in production + net profit

A

Higher quality goods and services can increase customer satisfaction and improve sales, resulting in greater profits

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51
Q

Improving quality in production + market share

A

Higher quality goods and services can promote repeat purchasing as there are higher levels of customer satisfaction, increasing a business’s competitive advantage

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52
Q

Improving quality in production + wastage

A

producing higher quality products can minimize errors in production and the amount of discarded resources, therefore minimizing waste

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53
Q

Improving quality in production + website hits

A

higher quality products can lead to greater customer satisfaction, in turn, this may increase customer’s interest in engaging with the business’s website to learn more

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54
Q

Improving quality in production + productivity growth

A

improving production quality can minimize the number of errors and defective products that a business produces, therefore decreasing its number of discarded resources and improving productivity

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55
Q

Initiating lean production techniques

A

Initiating lean production techniques involves a business adopting lean management strategies to systematically reduce waste in all areas of production while also improving customer value

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56
Q

Initiating lean production techniques + wastage

A

by implementing pull, businesses will only produce goods and services when customer orders are received, minimizing idle stock and the number of unused resources that are discarded

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57
Q

Initiating lean production techniques + market share

A

a business’s operations system can become more adaptable, allowing it to produce high-quality goods and services in a manner that addresses changing customer needs. This can increase a businesses overall customer satisfaction and competitiveness

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58
Q

Initiating lean production techniques + productivity growth

A

inputs are used more efficiently to produce outputs as the operations system streamlined when a business implements takt and one-piece-flow

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59
Q

Initiating lean production techniques + net profit

A

implementing pull can reduce the amount of idle stock and excess inventory reducing its business costs and therefore, increasing profit

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60
Q

Initiating lean production techniques + website hits

A

promoting the use of sustainable and environmentally friendly practices can attract more customers to a business’s website as they are more likely to engage with socially responsible businesses

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61
Q

Initiating lean production techniques + customer complaints

A

a business that strives for zero defects and constantly looks for new ways to improve its quality can minimize its number of defects in production and improve its overall customer satisfaction

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62
Q

Initiating lean production techniques + sales

A

By implementing lean management strategies, such as takt, a business can provide faster, higher quality customer experience and increase nits number of repeat purchases

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63
Q

Redeployment of resources

A

Redeployment of resources involves reallocating natural, labor and capital resources to different areas of the business to improve productivity and effectiveness

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64
Q

Redeployment of resources + net profits

A

Reallocating resources reduces inefficiencies in the operations system, thus allowing for optimal use of the business’s resources and increased profit margins

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65
Q

Redeployment of resources + wastage

A

reallocating resources increases productivity and reduces the number of resources that are wasted in a business’s operations system

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66
Q

Redeployment of resources + productivity growth

A

When labor and capital resources are reallocated, it can result in a more productive use of resources by ensuring that employees and machinery are no longer idle

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67
Q

Redeployment of resources + staff absenteeism

A

reallocating labor resources to another area of business where they have different roles and responsibilities can motivate employees to attend work

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68
Q

Redeployment of resources + staff turnover

A

reallocating labor resources to another area of business where they have different roles and responsibilities can motivate employees and increase job satisfaction, therefore encouraging them to remain at the business

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69
Q

Innovation

A

Innovation is the process of altering and improving or creating new products or procedures

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70
Q

Innovation + sales

A

developing innovative goodsa nd services may allow a business to better meet customer needs and allow the business to establish a competitive advantage through unique offerings, and therefore attracting mow customers

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71
Q

Innovation + net profit

A

Implementing innovation production techniques can allow a business to reduce its production costs, therefore increasing profits

72
Q

Innovation + market share

A

A business that implements innovative production techniques may be able to reduce its production costs. This can allow the business to gain a competitive advantage by enabling lower prices to be offered to customers

73
Q

Innovation + staff absenteeism

A

Employees may be more motivated and fulfilled if they are involved in the design and development of innovative products, increasing their job satisfaction and commitment to their work

74
Q

Innovation + level of staff turnover

A

The development of innovative products that benefit society and the environment may provide value and fulfilment to employees, therefore decreasing the likelihood of them leaving the business

75
Q

Innovation + customer complaints

A

Implementing innovative technology in a business’s operations system can improve the quality of its outputs, therefore, improving customer satisfaction levels through minimizing the number of faulty products received

76
Q

Innovation + website hits

A

a business that promotes its products with a unique and engaging marketing technique may attract more customers to its online platform

77
Q

Innovation + productivity growth

A

utilizing innovation production techniques can minimize the number of inputs required for production, thus increasing efficiency

78
Q

Innovation + wastage

A

a business that implements innovative technologies and production techniques in its operations system may improve production quality and minimize the number of discarded materials and resources

79
Q

Innovation + workplace accidents

A

Utilising innovative technology that can perform tedious or dangerous tasks may increase employee and customer safety, therefore reducing the number of injuries and incidents that occur in the business

80
Q

overseas manufacture as a business opportunity + market share

A

reducing production costs through manufacturing overseas can allow a business to offer lower prices whilst maintaining its profit margin. offering lower prices can allow a business to increase its competitiveness and improve its proportion of total sales in its industry

81
Q

overseas manufacture as a business opportunity + customer complaints

A

relocating its manufacturing overseas may provide a business with access to highly skilled employees who have greater expertise in producing its output, and therefore, the quality of the business’s final product can increase, improving customer satisfaction

82
Q

Global sourcing of inputs as a business opportunity + market share

A

offering customers products that have been produced using authentic, unique, or higher quality global sourced inputs can allow a business to develop a competitive advantage and generate a higher proportion of sales in its industry

83
Q

Global sourcing of inputs as a business opportunity + net profit

A

a business can source its input at an cheaper price from overseas suppliers. This can reduce costs and increase profit margins

84
Q

Global sourcing of inputs as a business opportunity + website hits

A

globally sourced inputs that are of a higher quality and lower prices can be promoted online and consequently attract more customers to a business’s website

85
Q

overseas manufacture as a business opportunity

A

overseas manufacture as a business opportunity involves a business producing its good or service outside of the country where its headquarters are located

86
Q

Global sourcing of inputs as a business opportunity + sales

A

Globally sourced inputs may be of higher quality than domestic resources, therefore increasing the value of the final product and improving customer satisfaction

87
Q

overseas manufacture as a business opportunity + sales

A

Implementing overseas manufacturing may allow a business to enter global markets, thus increasing it brand recognition , whilst potentially enhancing its sales

88
Q

Global sourcing of inputs as a business opportunity + customer complaints

A

using higher quality resources that have been globally sourced can increase the overall value of the final output and minimize the number of defective products produced, thus increasing customer satisfaction

89
Q

Global sourcing of inputs as a business opportunity

A

Global sourcing of inputs as a business opportunity involves a business acquiring raw materials and resources from overseas suppliers

90
Q

overseas manufacture as a business opportunity + net profit

A

a business can minimise its labor expenses and operation costs by manufacturing overseas, therefore increasing its ability to make a profit

91
Q

overseas manufacture as a business opportunity + workplace accidents

A

overseas workers may be more skilled and trained in using equipment, therefore, minimizing the number of injuries and incidents that occur in the workplace

92
Q

overseas manufacture as a business opportunity + productivity growth

A

highly skilled overseas workers may be able to manufacture outputs quicker and more accurately, thus reducing the amount of time and resources wasted in operations

93
Q

global outsourcing as a business opportunity

A

global outsourcing as a business opportunity involves transferring specific business activities to an external business in an overseas country

94
Q

global outsourcing as a business opportunity

A

global outsourcing as a business opportunity

95
Q

global outsourcing as a business opportunity + net profit

A

a business can minimize its operations expenses through global outsourcing as the cost of wages is often cheaper overseas, therefore increasing the business’s ability to make a profit

96
Q

global outsourcing as a business opportunity + sales

A

when a business globally outsources activities that do not directly contribute to the achievement of its objectives, it can focus more time and effort on developing outputs that meet and satisfy customer needs, allowing for increases in sales

97
Q

global outsourcing as a business opportunity + market share

A

global outsourcing can allow a business to put more focus toward its core business activities and developing products that better satisfy customer needs, thus improving competitiveness and its proportion of sales in the market

98
Q

global outsourcing as a business opportunity + staff absenteeism

A

outsourcing tedious and unenjoyable tasks overseas may improve levels of employee satisfaction and increase their willingness to attend work

99
Q

global outsourcing as a business opportunity + productivity growth

A

when a business outsources its tasks overseas, it can utilize the expertise of highly skilled workers who are often capable of performing tasks more efficiently than local workers, allowing the business to use its time more productively

100
Q

global outsourcing as a business opportunity + wastage

A

outsourcing tasks overseas can allow a business to complete tasks more productively and minimize the amount of time and resources wasted by a business

101
Q

global outsourcing as a business opportunity + customer complaints

A

global outsourcing may allow a business to focus more of its time and effort on satisfying customer needs, therefore, enabli9ng it to produce higher quality outputs that provide greater customer value

102
Q

Corporate culture

A

corporate culture is the shares values and beliefs of a business and its employees

103
Q

official corporate culture

A

official corporate culture involves the shared views and values that a business aims to achieve, often outlined in a writing format

104
Q

Strategy to improve o.c.c: shared objectives

A

publishing or updating a vision statement that will highlight a business’s aspirations and intentions, acting as an example that employees should follow

105
Q

strategy to improve o.c.c: policies

A

publishing an employee code of conduct outlines the business’s expectations of its employees as representatives of itself and what it stands for

106
Q

strategy to improve o.c.c: training

A

developing training programs ensures that employees are equipped with the appropriate skills they need to complete their work and achieve business goals

107
Q

strategy to improving r.c.c: type of employees

A

tailoring employee hiring criteria to the specific needs of the business develops a standard for the type of people that the business seeks to hire to represent itself, such as obtaining employees with appropriate technical skills

108
Q

strategy to improve r.c.c: workplace environment

A

changing office layout too reflect the desired ways of working encourages collaboration between employees and greater interaction in the workplace, allowing for positive professional relationships to be formed

109
Q

strategy to improve r.c.c: business rituals

A

organizing regular celebrations of employee contributions to the business unified the business’s employees by creating regular opportunities for recognizing high standards, and positively reinforcing high work ethics

110
Q

Senge’s Learning Organisation

A

a learning organisation is an organisation that facilitates the growth of its members and continuously transforms itself to adapt to changing environments

111
Q

Systems thinking

A

Systems thinking is a management approach that considers the interrelationship between the parts of a whole system

112
Q

Mental Models

A

Mental models are existing assumptions and generalization that must be challenged so that learning and transformation can occur within an organisation

113
Q

Shared vision

A

A shared vision is an aspirational description of what an organisation and its members would like to achieve

114
Q

Personal Mastery

A

Personal mastery is the discipline of personal growth and learning aligned with one’s values and purpose

115
Q

Team learning

A

Team learning is the collectives learning that occurs when teams share their experience, insights, knowledge, and skills to improve practices

116
Q

Low risk strategies

A

Low risk strategies are measured management approaches that gradually encourage employees to accept and participate in a business change

117
Q

Communication as a low risk strategy

A

communication as a low risk strategy involves managers openly and honestly transferring information to employees, and listening to their feedback so that employees are fully aware of the reasons for, and impacts of upcoming change

118
Q

Empowerment as a low risk strategy

A

empowerment as a low risk strategy involves managers providing employees with increased responsibility and authority during times of change

119
Q

Support as a low risk strategy

A

support as a low risk strategy involves managers providing employees with assistance as they move from current to new practices

120
Q

Support as a low risk strategy

A

support as a low risk strategy involves mangers providing employees with assistance as they move from current to new practices

121
Q

incentives as a low risk strategy

A

incentives as a low risk strategy involves managers providing financial or non financial rewards to encourage employees to change

122
Q

Low risk strategy employee advantage

A

Low risk strategies can make employees feel valued by the business

123
Q

low risk strategies business advantage

A

Communication, empowerment, and support all result in a higher chance of change being successful in the long term due to increased trust and cohesion between managers and employees

124
Q

Low risk strategies time disadvantage

A

all low risk strategies are not useful in a crisis situation as they take a longer period of time to be effective

125
Q

low risk strategies money disadvantage

A

Incentives lead to financial expenses for the business, which can therefore reduce overall expenses

126
Q

High risk strategies

A

high risk strategies are autocratic management approaches used to influence employees to quickly accept and follow a business change

127
Q

Manipulation as a high risk strategy

A

manipulation as a high risk strategy involves influencing employees to support a proposed change by providing incomplete and deceptive information about the transformation

128
Q

Threat as a high risk strategy

A

threat as a high risk strategy involves forcing employees to follow a proposed change by stating that they may or will cause harm to them if they fail to do so

129
Q

high risk strategies business advantage

A

change is implemented in a way that the manager desires as there is no employee input

130
Q

high risk strategies time advantage

A

high risk strategies are effective in crisis situations where change must occur rapidly

131
Q

high risk strategies business disadvantage

A

implementing these strategies may lead to the development of a negative corporate culture in the future, due to long term distrust

132
Q

high risk strategies money disadvantage

A

the expense of replacing employees may increase as these methods can increase staff turnover due to decreased employee satisfaction and loyalty

133
Q

Lewin’s Three-step change model

A

Lewin’s three step change model is a process that can be used by a business to implement change successfully

134
Q

Unfreeze step

A

the unfreeze step involves moving a business to a state where stakeholders are prepared to undergo change.

135
Q

unfreeze step strategy #1

A

communicate the need for change

136
Q

unfreeze step strategy #2

A

initial training for staff who will lead change

137
Q

change step

A

the change step involves moving a business towards its desired state through clear and transparent communication as well as involving employees in the change

138
Q

change strategy #1

A

install equipment and machinery

139
Q

change strategy #2

A

training for the rest of the staff affected

140
Q

refreeze step

A

the refreeze step involves ensuring a change is sustained within a business for the long term by embedding the change into its everyday practices (introduction of new policies and job descriptions)

141
Q

refreeze strategy #1

A

removal of old policies and procedures

142
Q

refreeze strategy #2

A

removal of old equipment

143
Q

positive effect #1 of change on owners

A

a successful business change can provide a business owner with an increased return on investment and greater financial security

144
Q

positive effect #2 of change on owners

A

business change can provide opportunities for business owners to use their leadership skills to connect with employees and develop a stronger interpersonal relationship

145
Q

negative effect #1 of change on owners

A

if change is unsuccessful, a business owner may experience personal and financial implications

146
Q

negative effect #2 of change on owners

A

a business owner may become overwhelmed and stressed by increased workload and responsibilities that may be associated with business change

147
Q

positive effect #1 of change on managers

A

business change can provide opportunities to develop new skills or advance their career

148
Q

positive effect #2 of change on managers

A

a business may provide a manager with financial and non-financial rewards if the change is successfully implemented

149
Q

negative effect #1 of change on managers

A

increased workloads associated with change can lead to stress which may impact a manager’s wellbeing

150
Q

negative effect #2 of change on managers

A

If a business change is unsuccessful a manager may lose their job and financial security

151
Q

positive effect #1 of change on employees

A

employees may be provided with new responsibilities and opportunities for career advancement that improve their motivation and overall job satisfaction

152
Q

positive effect #2 of change on employees

A

if a business change is successful, employees may experience improve job and financial security

153
Q

negative effect #1 of change on employees

A

if a business change is expected to result in redundancies employees may fear for their job or financial security

154
Q

negative effect #2 of change on employees

A

a business change may require employees to develop complex skills and learn difficult processes, which may increase stress levels and negatively impact their wellbeing

155
Q

positive effect #1 of change on customers

A

if change improves the quality of a business’s goods and services, customers may experience increased satisfaction

156
Q

positive effect #2 of change on customers

A

customer satisfaction may increase if change allows the business to offer lower prices for its goods and services

157
Q

negative effect #1 of change on customers

A

a business that sources cheaper inputs to reduce business costs may compromise the quality of its product, leading to customer frustration and reduced satisfaction

158
Q

negative effect #2 of change on customers

A

customers may be dissatisfied if a business change increases the price of its product

159
Q

positive effect #1 of change on general community

A

if a business change creates job opportunities, local employment rates may increase which can improve the overall wellbeing of society

160
Q

positive effect #2 of change on general community

A

business change that involves opening or expanding into a new area can increase customer traffic and sales for surrounding businesses

161
Q

negative effect #1 of change on general community

A

a business change that results in redundancies may increase local unemployment rates and poverty levels, thus negatively impacting societal wellbeing

162
Q

negative effect #2 of change on general community

A

if a business change involves store closure of relocation, customer traffic and sales for surrounding businesses may decrease

163
Q

CSR definition

A

Corporate social responsibility is the ethical conduct of a business beyond legal obligations, and the consideration of social, economic, and environmental impacts when making business decisions

164
Q

considering employees #1

A

when downsizing, store closures or introduction of new technology occurs, which leads to employees redundancies, a business may offer outplacement services to help employees find alternative employment

165
Q

considering employees #2

A

when introducing new equipment and machinery that employees must adapt to a business may provide extra training and support to employees so they understand their new roles and responsibilities when adapting to new business practices

166
Q

considering employees #3

A

when reallocating labor resources, leading to the redeployment of employees to new roles within the business, engaging in two way communication to help reduce any misunderstandings or anxiety related to redeployment, and address any questions that employees may have

167
Q

considering the general community #1

A

when changing suppliers, choosing local suppliers to create employment opportunities and improve the local economy

168
Q

introducing new technology that replaces human labor

A

redeploying employees to other roles in the business to minimize unemployment rates

169
Q

considering the general community #2

A

when introducing new technology that replaces human labor, redeploying employees to other roles in the business to minimize unemployment rates

170
Q

considering the general community #3

A

when globally sourcing inputs for the operations system, sourcing materials from businesses that provide employees with fair pay and working conditions

171
Q

considering the environment #1

A

when introducing new technology on the environment, purchasing technology that reduces the number of errors in production can minimize the amount of waste and that a business generates

172
Q

considering the environment #2

A

when changing suppliers on the environment, choosing a local supplier to minimize carbon emissions produced during transportation and support the local economy

173
Q

considering the environment #3

A

when building a facility that creates minimal waste and pollution during construction, utilizes sustainable and energy-efficient practices, and has positive impacts on the local wildlife and the overall environment

174
Q

CSR business advantage

A

a business can develop a positive reputation, leading to more customers purchasing its goods or services

175
Q

CSR money advantage

A

customers may be willing to pay a higher price for goods and services that are produced in an ethical manner

176
Q

CSR business disadvantage

A

a constant focus on CSR may decrease a business’s productivity levels

177
Q

CSR money disadvantage

A

CSR practices can be expensive for a business to initially implement

Business Management (4 decks)

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