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BM Exam > Unit 4, Aos 2 > Flashcards

Unit 4, Aos 2 Flashcards

1
Q

Leadership

A

the ability to influence and motivate individuals to achieve business objectives

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2
Q

Change management

A

the process of implementing strategies that prepare an organisation to undergo a transformation

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3
Q

Leadership in change management

A

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

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4
Q

Managers can demonstrate strong leadership in change management by;

A
  • Building a shared vision: act to inspire employees and inform them of the reasons and benefits of change, as well as the consequences of not changing
  • Providing ongoing communication: with clear instructions to employees and instilling them with trust and confidence as they move from current to new practices
  • 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

Leadership will;

A
  • Help build momentum towards successful change
  • Reduce resistance to change
  • Direct the business and its stakeholders towards the same goals
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6
Q

Important roles of a leader during change management;

A
  • Communicating the need for change, building momentum and support
  • Empowering employees in order to develop a shared vision of change, increasing ownership of and commitment to the change
  • Transparently and honestly communicating details of the change, reducing fear of the unknown
  • Using interpersonal skills to empathise with employees and other stakeholders, reducing their stress and resistance
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7
Q

Management Strategies to Respond to KPI

A

staff training
staff motivation
change in management styles
change in management skills
cost cutting
increased investment in technology
improving quality in production
initiating lean production techniques
redeployment of resources
innovation
global sourcing of inputs as a business opportunity
overseas manufacture as a business opportunity
global outsourcing as a business opportunity

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8
Q

Corporate culture

A

the shared values and beliefs of a business and its employees

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9
Q

OCC

A

involves the shared views and values that a business aims to achieve, often outlined in a written format

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10
Q

RCC

A

involves the shared values and beliefs that develop organically within a business, and are practiced on a daily basis by its employees

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11
Q

Senge’s Learning Organisation

A

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

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12
Q

SLO …

A

personal mastery
mental models
shared vision
team learning
systems thinking

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13
Q

Personal mastery

A

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

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14
Q

Mental models

A

are existing assumptions and generalisations that must be challenged so that learning and transformation can occur in an organisation

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15
Q

Shared vision

A

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

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16
Q

Team learning

A

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

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17
Q

Systems thinking

A

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

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18
Q

A positive culture promoting willingness to pursue transformation is likely to exist when the following are met;

A

o The organisation is viewed as a whole system and each employee understands how their role interacts with, is affected by, and can affect, other parts of the organisation
o A shared vision exists, and employees and motivated to work towards it
o Employees are encouraged to challenge existing limiting mindsets
o Employees are afforded opportunities to develop themselves personally in a way that is meaningful to them

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19
Q

SLO +

A

+ Staff motivation should increase as a result of boosting skills and empowerment
+ Quality of outputs of all levels are improved
+ Corporate image is improved from becoming more people-orientated

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20
Q

SLO -

A
  • Requires corporate change, which can take time
  • Large businesses can struggle to share ideas and knowledge throughout the whole busines
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21
Q

Low-Risk Strategies

A

measured management approaches that gradually encourage employees to accept and participate in a business change

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22
Q

LRS +

A

+ Preserves employee morale
+ Maintains commitment to the business
+ Maintains motivation and reduces resistance
+ Generates employee commitment, not just compliance

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23
Q

LRS -

A
  • Can take longer to initiate change
  • May require additional expenses and time (incentives, support)
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24
Q

LRS …

A

communication
empowerment
support
incentives

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25
Q

Communication LRS

A

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 an upcoming change

26
Q

Empowerment LRS

A

involves managers providing employees with increased responsibility and authority during times of change

27
Q

Support LRS

A

involves managers providing employees with assistance as they move from current to new practices

28
Q

Incentives LRS

A

involves managers providing financial or non-financial rewards to encourage employees to support change

29
Q

High-Risk Strategies

A

autocratic management approaches used to influence employees to quickly accept and follow business change

30
Q

HRS +

A

+ Useful in crisis situation
+ Ensures that change is implemented quickly and matches exactly what the manager requires
+ Highly effective (due to quick results)

31
Q

HRS -

A
  • Potential for fear, resentment and reaction
  • Motivation can decrease
  • Can lead to greater resistance (strikes, staff turnover)
  • Potential legal problems
  • Develops hostile and bitter culture (not sustainable)
32
Q

HRS …

A

manipulation
threat

33
Q

Manipulation HRS

A

involves influencing employees to support a proposed change by providing incomplete and deceptive information about the transformation

34
Q

Threat HRS

A

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

35
Q

Lewin’s Three-Step Change Model

A

is a process that can be used by a business to implement change successfully

36
Q

Unfreeze step

A

involves moving a business to a state where stakeholders are prepared to undergo change

37
Q

Change step

A

involves moving a business towards its desired state

38
Q

Refreeze step

A

involves ensuring a change is sustained within a business for the long-term

39
Q

Effect of Change on Owners +

A
  • Increased return on their investment and greater financial security
  • Provide opportunities for business owners to use their leadership skills to connect with employees and develop strong interpersonal relationships
  • Perceived more positively by employees if they implement change successfully
40
Q

Effect of Change on Owners -

A
  • Experience personal and financial implications
  • Overwhelmed and stressed by increased workload and responsibilities associated with change
  • May be resented if employee roles are made redundant or significantly changed (corporate culture)
41
Q

Effect of Change on Managers +

A
  • Increased return on their investment and greater financial security
  • Provide opportunities for business owners to use their leadership skills to connect with employees and develop strong interpersonal relationships
  • Perceived more positively by employees if they implement change successfully
42
Q

Effect of Change on Managers -

A
  • Experience personal and financial implications
  • Overwhelmed and stressed by increased workload and responsibilities associated with change
  • May be resented if employee roles are made redundant or significantly changed (corporate culture)
43
Q

Effect of Change on Managers +

A
  • Opportunities to develop new skills or advance career
  • Financial or non-financial rewards
  • Increased authority and responsibility
44
Q

Effect of Change on Managers -

A
  • Increased workloads associated with change may lead to stress
  • If change is unsuccessful a manager may lose their job and financial security
45
Q

Effect of Change on Employees +

A
  • New responsibilities and opportunities for career advancement that improve motivation and job satisfaction
  • Improved job and financial security
  • Financial or non-financial reward
  • Additional training to provide with new skills, improving future employability
46
Q

Effect of Change on Employees -

A
  • Developing complex skills and learning difficult processes may increase stress
  • Change relating to redundancy may lead to fear for their job or financial security
  • May experience increased responsibility that employees are not prepared for
47
Q

Effect of Change on Customers +

A
  • Improve quality of goods and services (customer satisfaction)
  • Change may allow for lower prices (customer satisfaction)
  • New strategies may demonstrate corporate social responsibility
48
Q

Effect of Change on Customers -

A
  • Cheaper inputs will reduce business costs but may compromise quality (customer frustration)
  • Dissatisfaction with increasing prices
  • Discontinuing or changing goods or services may decrease if new product fails to meet their needs
49
Q

Effect of Change on Suppliers +

A
  • Supplier demand may increase if a business requires a greater amount of resources to meet its production needs
50
Q

Effect of Change on Suppliers -

A
  • If a business decides to switch to a different supplier or discontinue products a supplier’s sales may decrease (lowered volume orders from business)
  • Business may require suppliers to involuntary adjust processes to meet new demands of the business
51
Q

Effect of Change on the General Community +

A
  • If a business change creates job opportunities, local employment rates will increase
  • Business change involving opening or expanding to a new area can increase customer traffic and sales for surrounding business
  • A business may have greater ability to contribute to local social causes
  • Business change linked to reducing waste will reduce business’s environmental impact
52
Q

Effect of Change on the General Community -

A
  • Change involving redundancy will increase local unemployment rates and poverty levels
  • If a business change involves store closure or relocation, customer traffic and sales for surrounding business may decrease
  • If a business change involves switching to an overseas supplier, transporting inputs from another country can negatively impact the environment
53
Q

CSR

A

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

54
Q

Considering Employees

A
  • Offering outplacement services to help employees find alternative employment
  • Offering counselling to help reduce anxiety and fear of employees
55
Q

Considering the General Community

A
  • Choosing local suppliers to create employment opportunities and improve the local economy
  • Redeploying employees to other roles in the business to minimise unemployment rates
  • Providing terminated or redundant employees with job interview training to assist them when finding employment elsewhere, minimising the extent of unemployment in the community
56
Q

Considering the Environment

A
  • Purchasing technology that reduces the number of errors in production can minimise the amount of waste a business generates
  • Choosing a local supplier to minimise carbon emissions produced during transportation and support the local economy
57
Q

CSR +

A

+ Improvements to employee satisfaction and
+ Positions business into ‘employer-of-choice’ support ‘non-core’ activities
+ Leads to sustainable future
+ Better business reputation

58
Q

CSR -

A
  • Can be time consuming to establish motivation - Can sometimes be expensive to
59
Q

Reviewing Key Performance Indicators to Evaluate the Effectiveness of Business Transformation

A
  • KPI allow a business to collect data that it can use to objectively quantify the relative success of its business transformation
  • A business typically undertakes change to achieve an objective and improve its performance
60
Q

By reviewing KPI’s, a business can evaluate the effectiveness of its transformation by;

A
  • Analysing the size and extend of its change
  • Identifying whether the change has successfully achieved its objectives
  • Identifying whether the change has negatively impacted another area of performance
  • Determining whether more effort and time are required for the change to achieve desired objectives
  • Considering alternative management strategies to achieve the desired result or improve areas that were negatively impacted by change
61
Q
A

BM Exam (5 decks)

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