WGU C954 V8 Ch 2

What is a Change Model?

A representation of change theories.

What does a Change Model identify?

The phases of change.

What does a Change Model suggest?

The best way to implement change.

What is Continuous Improvement?

A form of innovation that involves constantly seeking ways to improve business processes.

What is the goal of Continuous Improvement?

To add value to products and services.

Core Value

A widely accepted principle that guides how people behave and make decisions in the organization

What is culture?

A set of major understandings and assumptions shared by a group.

What types of groups can share a culture?

Ethnic groups or countries.

Diffusion of Innovation Theory

A theory developed by E.M. Rogers to explain how a new idea or product gains acceptance and diffuses (or spreads) through a specific population or subset of an organization.

Digital Transformation (DTX)

The process by which companies embed technologies across their businesses to drive fundamental change.

What is disruptive innovation?

Changes that initially provide a lower level of performance than the marketplace has grown to accept.

How does disruptive innovation evolve over time?

It is improved to provide new performance characteristics.

What happens to disruptive innovation as it improves?

It becomes more attractive to users in a new market.

What is innovation?

The application of new ideas to the products, processes, and activities of a firm.

What does innovation lead to?

Increased value.

Key Results

A specific, measurable result that must be achieved to reach an objective

Intangible Benefits

A benefit that cannot directly be measured and cannot easily be quantified in monetary terms.

Mission Statement

A statement that concisely defines an organization's fundamental purpose for existing.

What is an objective in a business context?

A written description of what the business wants to achieve.

What are the characteristics of an effective business objective?

It should be short and must state a compelling business need.

Objectives and Key results (OKR)

A system used to create alignment and engagement around measurable and ambitious goals

Organizational Change

The way for-profit and nonprofit organizations plan for, implement, and handle change.

Organization Culture

The major understandings and assumptions for a business, corporation, or other organization.

What does Porter's Five Forces Model identify?

The bargaining power of suppliers and buyers, the threat of new entrants and substitute products, and existing industry competitors.

What does Porter's Five Forces Model determine?

The level of competition and long-term profitability of an industry.

Project

A temporary endeavor that creates an actionable plan, allowing organizations to achieve their goals and objectives.

What is reengineering?

The radical redesign of business processes, organizational structures, information systems, and values of the organization.

What is another term for reengineering?

Process redesign or business process engineering.

What is the goal of reengineering?

To achieve a breakthrough in business results.

Soft side of implementing change

The work designed to help employees embrace a new information system and way of working.

What is Strategic Alignment?

The process of aligning all stakeholders, internal and external, to achieve a shared organizational vision.

What is the goal of Strategic Alignment?

To ensure all stakeholders are focused and committed to a shared organizational vision.

Strategy

A plan that describes how an organization will achieve its vision, mission, objectives, and goals.

What does SWOT stand for?

Strength, Weakness, Opportunity, Threat

What does the Strength component of a SWOT analysis illustrate?

What a company is doing well

What does the Weakness component of a SWOT analysis illustrate?

Where a company can improve

What does the Opportunity component of a SWOT analysis illustrate?

What opportunities are available

What does the Threat component of a SWOT analysis illustrate?

What environmental factors threaten the future of the organization

Sustaining Innovation

Enhancements to existing products, services, and ways of operating.

Tangible Benefits

A benefit that can be measured directly and assigned a monetary value.

What does the Technology Acceptance Model (TAM) specify?

The factors that can lead to better attitudes about an information system.

What is one outcome of the Technology Acceptance Model (TAM)?

Higher acceptance of an information system.

What is another outcome of the Technology Acceptance Model (TAM)?

Higher usage of an information system.

Total Cost of Ownership (TCO)

Includes all expenses for creating, implementing, and using an item for its entire useful life, including operating costs, support costs, cutover costs, training costs, maintenance fees, etc.

Vision

A concise statement of what an organization intends to achieve in the future.