U4 AOS 1: Business Change

Question 1

What is business change?

Answer 1

Business change is the adoption of a new idea or behaviour.
- Can occur because of pressure from a business environment, factors such as economy, customers, employees, technology and competitors

Question 2

What is transformational change?

Answer 2

Transformational change refers to significant change that often impacts the whole business
- Example: A company restructure or a merger

Question 3

What is incremental change?

Answer 3

Incremental change refers to a small continuous change that regularly occurs in the business
- Example: Total Quality Management (TQM)