STRATEGIC CHANGE Flashcards
INternal change
changes within the business or organisation
external vhange
changes in the external enviro
incremental change
when small adjustments are made over a long period of time that dont alter working practices in a significant way
e.g gradual changes taking place in external enviro such as more comp entering industry slowly over a pot and we wanna change our strategy accordingly
incrementla chang eenco,passes what methodolgy
internal kaizen a pproach to managing change - lots of little changes occuring overtiem
disruptive change
when sudden and significant alteration occur that affect the way a busniness operates
give example of intenal disruptive change
managers deciding we need to rdesign production line - halt prod for a weeks redesign and resume production
give example of DISRUPTIVE CHANGE external enviro
e.g uk economic groeth 2008 there was a huge fall in GDP - lots of bs went out of bs/others had to significantly alter strategy to survive
internal causes of / presures for change FINANCE
finance - pressure from shaleholders to increase profits, manager loooking to imporve financial ratinos that lead to alterations in bs
internal causes of / pressure for change MARKETING
marketing - prioducts in portfolio ciming to end of their lifecycle , bs realise need to release new product
INTERNAL CAUSES OF / PRESSURES FOR CHANGE OPERATIONS
operations - need installation of new production technology to improve efficiency whihc will lead to changes in bs e.g tething priblems
INTERNAL CASUES OF/ PRESSURE FOR CHANGE HR
business is growing and we need tp have neW recruitment to fill roles and get differnet skills - altering hr flow
EXTERNAL CUASES OF /PRESSURES FOR CHANGE - political
Political - brexit impact exporters in UK
external causes / pressure for change - economic
Economic - changes in eocn cycle might affect products in protfolio
external casyes / pressure for change - social
SOCIAL - changing attitudes e.g people oging gym for health , people going vegan
external cuases / pressure for change
TECHNOLOGICAL - impact digitla tech had on bs and way they operate
