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Unit 10 Flashcards

1
Q

what is strategic change ?

A

a restructuring of an organisations business or marketing plan that is typically performed to achieve an important objective.

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2
Q

what is Change Management ?

A

the process of managing change in a structured way in order to meet organisational goals, objectives and the businesses overall mission.

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3
Q

what is Internal Change ?

A

change that happens within a business.

usually identified through SWOT analysis, Strengths and Weaknesses

(e.g. employee attitudes, change of leadership, restructuring)

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4
Q

what is External Change ?

A

change that happens because of external forces.

usually identified through SWOT analysis, Opportunities and Threats

(e.g. changing consumer taste and fashion, political changes, government action, economic influences, competition, technology)

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5
Q

what is Incremental Change ?

A

many small-scale improvements to a business processes.

low-risk

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6
Q

what is Disruptive Change ?

A

transformational and likely to involve radically rethinking or redesigning a major business process

large-scale improvement quickly

high-risk

(e.g. technological breakthroughs)

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7
Q

what are the 4 reasons for resistance to change in Kotter and Schlesingers model ?

A

1). Self-interest

2). Misunderstanding and lack of trust

3). different assessments of the situation

4). low tolerance for change

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8
Q

what is Lewins Force Field Analysis ?

A

a tool that can help a business manage change by examining the forces acting FOR and AGAINST a change.

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9
Q

what are the reasons for change called in Lewins force field analysis ?

A

driving forces

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10
Q

what are the reasons against change called in Lewins force field analysis ?

A

restraining forces

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11
Q

what are the following steps that need to be taken in order to conduct force field analysis ?

A

1)> identify current situation

2)> identify desired situation

3)> list all driving forces

4)> list all restraining forces

5)> evaluate each of the driving forces and restraining forces ranking them from (1-10)

6)> if the driving forces outweigh the restraining forces then pursue change

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12
Q

what is the value of Change ?

A

+ Flexibility
(a business that embraces change and a more culturally diverse business is likely to have a more engaged workforce that actively seeks to instigate change)

+ Progress
(take advantage of new technologies)

+ Opportunities
(change provides opportunities for growth)

+ customer needs
(overtime customer needs change and grow)

+ challenging current practices
(business who do this a more likely to gain a competitive advantage).

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13
Q

what are the advantages of a flexible organisation ?

A

+ competitiveness
(more responsive to changing competitive environment)

+ Efficiency
(new approaches which are more efficient are likely to be developed)

+ Team-building
(where a culture of change exists the workforce is likely to be more motivated and engaged)

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14
Q

what is Restructuring ?

A

changing the way in which tasks are divided, grouped and coordinated.

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15
Q

why may there be pressures to Restructure ?

A

. rapidly changing environment (demands businesses to be adaptable to change)

. as a business grows it may be necessary

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16
Q

what is delayering ?

A

the removal of levels of hierarchy , to develop a more efficient and leaner business.

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17
Q

what are the benefits of delayering ?

A

+ reduced costs

+ improved motivation from employees

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18
Q

what are examples of flexible working contracts ?

A

part-time

temporary

zero-hour

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19
Q

what is an Organic organisational structure ?

A

decentralised structure, which as wider spans of control and has a seemless flow of information between functional areas and departments.

+ more flexible

+ usually occur in dynamic changing environments

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20
Q

what is a Mechanistic organisational structure ?

A

centralised structure, with well-defined hierarchy, narrow spans of control, with communication and decisions flowing from top down.

+ easy to maintain

+ rarely needs changing

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21
Q

what is Information Management ?

A

focuses on retrieving, organising, and analysing data. to gain valuable information.

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22
Q

what us Knowledge Management ?

A

focuses on knowledge, understanding and wisdom. the process of using these to make effective decisions.

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23
Q

what is the value of Information and Knowledge Management ?

A

+ improved efficiency

+ better marketing

+ more effective control over finance

+ new products being created more quickly

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24
Q

how are some ways managers can overcome resistance to change ?

A

. education and communication
(if employees are told about change before, it can help them see the logic involved and the need for change)

. facilitation and support
(if resisters are given support to help them cope with change, such as training for new skills or having their problems listened to, they may be more acceptant to the change.

. participation and involvement
(where the initiators of change involve the resisters in the process of change, seeking for their advice.

. manipulation

. negotiation

. coercion

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25
what is the level of resistance to change dependent on ?
+ the nature of the change + the potential consequences of the change + attitudes towards change + existing relationship between employees and managers
26
what is organisational culture ?
a system of shared values, assumptions, and beliefs that govern how the business operates.
27
what do good cultures do ?
inspire encourage motivate ..... employees
28
what do bad cultures do ?
lack collaboration uninspiring demotivating
29
30
what are the reasons why organisational culture is important ?
. identity (culture defines an organisations identity) . direction (provides set guidelines, roles, and responsibilities to keep employees on task) . loyalty (if employees feel valued, they will likely contribute towards its success) . competition (healthy competition amongst employees to achieve targets and goals) . attitude to change
31
what is Handy's cultural model ?
describes 4 different types of cultures.
32
what are the 4 different types of cultures Handy's model describes ?
. Task culture (job orientated) . Role culture (highly defined structure and roles) . Power culture (power radiates from the center and a few individuals) . Person culture (people believe themselves to be superior to the business, professions)
33
what is Hofstede's National Culture ?
identifies 6 dimensions of national culture that distinguishes countries from each other.
34
what are the 6 dimensions of Hofstedes national culture ?
. Individual vs Collectivism . power distance (the degree to which those with less power in society accept unequal distribution of power) . indulgence vs restraint (relates to a societys attitude to gratification) . long term vs short term (the value of traditions to countries) . masculinity and femininity (whether a country is based on male or female attributes) . uncertainty avoidance (degree to which members of society feel uncomfortable with uncertainty and ambiguity).
35
what are the influences on organisational culture ?
. Age of business (older organisations may have more traditional, power-orientated culture) . Size of business . Leadership style . objectives of business (business looking for quick sustained growth may have a different culture compared to one looking for sustainable long term growth) . employees (age, sex) . nature of the business
36
what are the reasons for changing organisational structure ?
. toxic culture . change of leader . change of ownership . change of market conditions
37
what are the problems with changing organisational structure ?
. attitude of employees (resistant to change) . scale of change
38
what is strategic implementation ?
the activities used within an organisation to manage the execution of the strategic plan.
39
what are the factors that could help a business with successfully implementing a strategy ?
. a clear understanding of the circumstances (why the strategy is being implemented, and the objectives it hopes to achieve) . commitment (of managers, resources, financially) . willingness to change . ability to monitor and measure progress (essential in order to achieve the refinements needed to achieve the objectives)
40
what must the leader be, in order to successfully implement a strategy ?
+ committed to the strategy + able to involve and motivate others + able to communicate effectively to make clear what needs to be done
41
why is it important for there to be clear communication to key stakeholders during strategic implementation ?
it will likely generate greater overall enthusiasm and commitment to the strategy.
42
what is a functional structure ?
where a business is organised into smaller groups based on functional areas: marketing, finance, operations
43
what is a product-based structure ?
structure is based on a product or production line where all functions related to that product are delegated.
44
what is a regional structure ?
where a business has separate structures dependent on different geographical areas and regions.
45
what is a Matrix Structure ?
structure is based around a major project or task, with specialists from various departments being assigned to the project.
46
what is Network Analysis ?
a method of planning projects in order to identify the most efficient way of completing them. useful tool for strategic implementation.
47
what does the Network Diagram show ?
. the sequence in which activities should be undertaken . the length of time taken by each activity . the earliest start time at which each activity can commence . the latest finish time at which each activity must be completed to avoid delaying over activities
48
what are the 2 elements that network diagrams consist of ?
. activities (require resources and time and are shown by arrows) . nodes (start or finish of an activity, circle)
49
on the nodes what is on the top ?
earliest start time
50
on nodes what is on the bottom ?
latest finish time
51
what is the float on a network diagram ?
any spare time that may exist during a project
52
what are the advantages of network analysis ?
+ encourages managers to undertake strategic planning, which helps reduce risk of delays and other problems + the resources needed for each activity can be made available at the appropriate time, reducing costs
53
what are the disadvantages of network analysis ?
- depends on how accurately the duration of activities are estimated - complex activities may be difficult to represent on diagram
54
what are some difficulties of strategic implementation ?
+ the overall goals may not sufficiently be understood by the workforce + lack of capability of employees
55
what is a planned strategy ?
where the managers intend to implement using a carefully laid plan to achieve a desired position. . smooth change to current position to new position . little disruption
56
what is a emergent strategy ?
an unplanned strategy that develops overtime. . change is characterised by the unforeseen and unplanned events
57
what is strategic drift ?
occurs when organisations that have enjoyed considerable success are unable to keep pace with changes in the external environment. usually happens over an extended period of time. therefore the strategic plan is no longer appropriate.
58
what are the 4 stages of strategic drift ?
1). incremental change (the organisation remains competitive due to incremental changes in strategy) 2). strategic drift begins to appear as incremental changes fail due to fasting changes in external environment 3). flux (a state of flux in strategy now develops, where management recognises the existence of drift and tries to make strategic change) 4). transformational change or demise (final phase where the organisation either fails completely or undertakes a transformational change)
59
what are possible causes of strategic drift ?
. technological environment (changes very quickly) . lagged performance (symptoms of strategic drift may not be immediate) . culture (may be quite rigid in terms of values and relationships) . lack of monitoring
60
what is divorce of ownership and control ?
refers to the separation of ownership between shareholders and elected board of directors in a PLC.
61
what are the effects of a divorce of ownership and control within a business ?
conflict due to a contrast in their desired objectives.
62
what is corporate governance ?
seeing whether an organisation is being run properly. involves: . Accountability . Fairness . Transparency . Responsibility provides a barrier to corrupt dealings, enhanced access to capital and the long-term prosperity of both organisations and the economy.
63
what is strategic evaluation ?
the process of determining the effectiveness of a given strategy in achieving the organisational objectives. alerts managers to potential problems.
64
how can strategic evaluation be done ?
. a review of the underlying factors in an organisations strategy . comparing expected results with actual results
65
what is contingency planning ?
planning for the unexpected, such as natural disasters or loss data.
66
what are the benefits of contingency planning ?
+ quicker response to an unexpected situation + saves both time and money +provides customer reassurance

Business (11 decks)

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