Business term 2

Creative Thinking

The ability to generate new and original approaches and ideas to solve challenges by being resourceful and applying artistic and clever concepts.

Advantages of Creative Thinking

Enhanced staff participation leading to new ideas, improved staff morale, competitive advantage through unique strategies, and the ability to solve complex problems.

Causes of Stress in the Workplace

Working long hours without breaks, heavy workload with unrealistic targets, working from home, and incompetent managers.

Importance of Stress Management

Effective stress management prevents absenteeism, poor staff performance, conflicts, grievances, and maintains a healthy work environment.

Examples of a Crisis in the Workplace

Theft, machinery breakdown, power outages, and property loss due to fire.

Ways to Manage Change in the Workplace

Adhering to the plan, recognizing differences during change, capacitating employees with stress and change management solutions, and transparent communication with staff.

Globalisation

Trading across countries due to global market narrowing, requiring flexibility to adapt to changes, ensuring high-quality products for competition.

Retrenchment

Reducing workers to cut costs, often due to restructuring and economic changes to increase profits.

Strategies for Dealing with Globalization

Being attentive to industry changes, meeting international quality standards, offering unique and useful products, and upgrading IT networks for online sales.

Quality Control

Ensuring goods or services meet consistent high standards through inspection of final products.

Production Planning

Involves planning, routing, scheduling, and loading to optimize processes, sequence operations, time production, and allocate tasks efficiently.

Quality control

The process of ensuring that goods or services are made to consistently high standards.

Inspecting

The examination of final products to ensure they meet required standards.

Quality circles

Groups that meet regularly to discuss and improve quality, efficiency, and productivity.

Problem analysis

Identifying and analyzing issues within the production process.

Employee involvement

Recognizing that employees are often best positioned to suggest quality improvements.