Unit 4 AOS1

Business change

Alteration of behaviors, policies, and practices of a business.

Proactive change

When a business changes to avoid future problems or take advantage of an opportunity to gain a competitive advantage.

Reactive change

When a business undertakes change in response to a situation or a crisis.

Key performance indicators (KPIS)

Measures or a set of data that allows a business to determine whether its meeting it’s business objectives.

Percentage of Market Share

A business’s share of total sales in an industry or for a particular good or service, expressed as a percentage.

Net Profit Figures

The amount remaining after deducting total expenses incurred from total revenues earned over a period of time.

Rate of productivity growth

The amount of outputs produced compared to the amount of inputs used and the rate at which it increases over time.

Number of sales

Amount of goods and services sold by a business within a specific time period.

Rate of staff absenteeism.

Average number of days employees are not present when scheduled to be at work for a specified period of time.

Level of staff turnover

The percentage of employees that leave a business during a set period and need to be replaced.

Level of wastage

Amount of inputs and outputs that are discarded during the production process.

Number of customer complaints

Amount of consumers dissatisfied with the business and/or it’s products and have notified the business of their dissatisfaction over a specific period of time.

Number of website hits

Amount of customer visits that a business’s online platform receives for a specific period of time.

Number of workplace accidents

The amount of injuries and unsafe incidents that occur at a work location over a period of time.

Force field analysis