Business U4 - AOS2

responding to change

management strategy - staff training

Training refers to the process of teaching staff how to do their job efficiently, boosting their knowledge and skills. It can be completed on the job or off the job.

leadership in change management

leadership is the ability to influence and motivate individuals to achieve business objectives

stakeholders

-may lack belief in the change

-fear they will be negatively impacted, causing resistance

-those that have vested interest within the business

why is leadership in change important

leadership is important in motivating and influencing stakeholders towards the change, giving a greater chance of success

during times of change stong leaders will

-focus on employee/business needs

-listen to employee concerns

-communicate a clear vision to stakeholders

-provide support for employees finding it difficult to adapt

management strategies to respond to KPIs/seek new business opportunities - staff training

-training is the process of improving an employer’s skills/knowledge

-kpi: less workplace accidents, decreased staff absenteeism and turnover - increased job satisfaction

management strategies to respond to KPIs/seek new business opportunities - staff motivation

Motivation is what drives employees to apply effort over a sustained period of time.

-kpi;improved productivity, reduced customer complaints

management strategies to respond to KPIs/seek new business opportunities - change in management styles/skills

management skills/styles can influence the performance of a business and its culture

-persuasive and laissez faire styles with 2 way communication, builds a more positive workplace corporate culture

management strategies to respond to KPIs/seek new business opportunities - increased investment in technology

-Technology refers to applications of knowledge that change people’s lives and change the way in which a business operates and performs

kpis;improved productivity growth

management strategies to respond to KPIs/seek new business opportunities - improve quality of production

improving the quality of production refers to improving the quality of the final good/service that ends up with customers.

-quality control, increased number of sales/ms

management strategies to respond to KPIs/seek new business opportunities - cost cutting

refers to businesses reducing costs without having a significant impact on the overall value to customers, will look at all activities to see where costs can be saved

reduced wastage

management strategies to respond to KPIs/seek new business opportunities - initiating lean production techniques

-refers to minimising waste in a business, whilst improving the value to end consumers. reduced level of wastage

management strategies to respond to KPIs/seek new business opportunities - redeployment of resources

-refers to transfers of resources from one place in the business to another. better use of resources

ncl, improved productivity growth

management strategies to respond to KPIs/seek new business opportunities - innovation

innovation refers to the process of creating and implementing a new idea, method, product. enhancements, introduction, processes=evolving needs, marketing

productivity growth, sales, net profit

management strategies to respond to KPIs/seek new business opportunities - global sourcing of inputs, overseas manufacture and global outsourcing

global sourcing of inputs - where a business receives resources from overseas supplier=provides access to top quality materials/cost effective/skills;net profits

overseas manufacture - refers to the production of goods in another country different from the business’ home base -lower labour costs/expenses .improved sales/net profits.

global outsourcing - refers to a function of a business conducted by an external person/business in another country who has specialised skills/cheaper expertise. improved sales

corporate culture and strategies for development - define corporate culture

corporate culture refers to the shared values and beliefs of the people within the business - same values=positive environment

offical corporate culture

what the business intends culture to be - offical documents, the mission, stated values