unit 4 aos 1 Flashcards
(35 cards)
what is business change
any alteration to a businesses operations, environment, structure or culture
what is a proactive approach
when a business changes to avoid problems or use an opportunity to gain a competitive advantage
what is a reactive approach
when a business undertakes change in response to a situation or crisis
what are KPIs
criteria that measure a businesses efficiency and effectiveness in achieving its different objectives
what are the 9 types of KPIs
net profit figures
percentage of market share
rate of productivity growth
number of sales
rate of staff absenteeism
level of staff turnover
level of wastage
number of customer complaints
number of workplace accidents
what is percentage of market share
the proportion of a businesses total sales, compared to the total sales in the industry, expressed as a percentage figure
what is net profit revenue
total revenue - total expenses
what is rate of productivity growth
increase in outputs produced from a given level of inputs over time
what is number of sales
the total quantity of goods and services sold by a business over a specific period of time
what is the number of customer complaints
the number of customers who notified the business of their dissatisfaction over a specific period of time
what is the rate of staff absenteeism
the average number of days employees are not present for when scheduled to be at work, for a specific period of time
what is the level of staff turnover
the percentage of employees that leave a business over a specific period of time and must be replaced
what is the number of workplace accidents
the amount of injuries and unsafe accidents that occur at a work location over a specific period of time
what is the level of wastage
the amount of inputs and outputs that are discarded during the production process
what are the steps of a force field analysis
weighting
ranking
implementing a response
evaluating a response
what are driving forces
factors affecting the business environment that promote and support business change
what are restraining forces
factors that resist a business change or actively try to prevent it
examples of driving forces
owners
managers
employees
competitors
legislation
pursuit of profit
cost reduction
innovation
technology
globalisation
societal attitudes
examples of restraining forces
managers
employees
time constraints
organisational inertia
financial considerations
legislation
why are owners driving forces
they want to improve their return on investment
why are managers driving forces
job security, personal reputation, finances
why are employees driving forces
job security, finances, career development, personal reputation
why are competitors driving forces
because if competitors make a change, they may gain a competitive advantage, so businesses need to respond
how can a manager be a restraining force
not convinced by the change, fear the change will threaten their position, very comfortable in their current working conditionsn
