BUSINESS U4 AOS2 (Change management)

Leadership

ability to influence or motivate people to work towards the achievement of business objectives

What can successful leaders do during the transition period?

• preparation and planning

• communication

• support

• collaboration

• accountability

Management strategies

strategies management can use to take action in response to the data sourced from key performance indicators

Key performance indicators (KPI)

specific criteria used to measure the efficiency and effectiveness of a business’ performance

Management strategies are..

• staff training

• staff motivation

• change in management style / skills

• increased investment in technology

• improving quality of production

• cost cutting

• initiating lean production techniques

• redeployment of resources

• innovation

• global sourcing of inputs

• global outsourcing

• overseas manufacturing

Redeployment

act of moving resources from one area in a business to another area of the business

Learning organizations

those businesses where managers and staff continually seek to expand their capacity to achieve the results they desire

5 principles/disciplines

• Systems Thinking

• Personal Mastery

• Mental Models

• Shared Vision

• Team Learning

Systems Thinking

ability to see beyond what is occurring in a business

Personal Mastery

practice of individuals undertaking personal growth and learning

Mental Models

Deeply ingrained assumptions, generalizations that influence how we understand the world and how we take action

Shared Vision

capacity to hold a shared picture of the future we seek to create

Team learning

process of aligning and developing the capacities of a team to create the results its members truly desire

Low risk strategies

actions taken that are likely to generate positive outcomes in the short and long term

Communication

management transferring information about the change to employees

Empowerment

involving employees in the change process and providing them with greater responsibility and decision making power

Support

providing employees with assistance in moving from the current state to the new

Incentives

any financial or non financial rewards provided to employees to encourage them to embrace a change

High risk strategies

actions taken that may succeed in the short term but run the risk of generating negative outcomes in the long term

Manipulation

skilful or devious exertion of influence over someone to get them to do what you want

Threat

suggestion that some sort of negative consequence will occur if employees fail to follow a requested change

Unfreeze

preparing the business for change

change

moving the business from the current situation to the new situation

Refreeze

putting strategies in place to make sure that the change is stabilised and institutionalised, or made sustainable

Corporate social responsibility (CSR)

the obligations a business has over its legal responsibilities to the wellbeing of employees, customers, shareholders, general community, and environment

Business transformation

the new form or structure after a business change has been introduced