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Change in Business
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1
Business Change
The need for businesses to adapt to remain competitive, affecting strategy, workforce, and productivity.
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2
Internal Causes of Change
Factors within the business that drive change such as leadership shifts, ownership changes, growth, retrenchment, and technology.
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3
External Causes of Change
Factors outside the business that influence change including market shifts, consumer preferences, legislation, economic conditions, and competition.
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4
Leadership Change
When new CEOs or managers bring different visions and strategies to the organization.
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5
Change in Ownership
Alterations in business strategies due to mergers, takeovers, and acquisitions.
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6
Business Growth
Expansion through organic growth such as new stores or inorganic methods like mergers.
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7
Retrenchment
The process of downsizing due to cost-cutting measures in a business.
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8
Impact of Technology on Business
Automation and AI that improve efficiency and operational capabilities.
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9
Market Change Example
An illustration of change in market dynamics, e.g., Netflix replacing Blockbuster.
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10
Consumer Preference Change Example
An example of a shift in consumer demand, like the rise of sustainable products.
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11
Effect of Legislation on Business
How new laws increase costs and compliance requirements for businesses.
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12
Impact of Economic Factors on Business
How interest rates, inflation, and recessions influence business performance.
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13
Competitive Environment Example
A situation where new business models disrupt traditional industries, e.g., Uber's impact on taxis.
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14
Planned Change
Deliberate and controlled adjustments made within an organization.
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15
Unplanned Change
Unexpected shifts that disrupt normal business operations.
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16
Internal Change
Changes resulting from internal factors within an organization.
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17
External Change
Changes driven by external factors that affect the business environment.
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18
Uber’s Internal Change
Expansion into Uber Eats to diversify and enhance service offerings.
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19
Uber’s External Change
Legal issues and regulation changes that affect Uber's operations.
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20
Uber’s Planned Change
The initiative to develop autonomous ride-sharing vehicles.
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21
Uber’s Unplanned Change
Protests and issues raised by taxi drivers regarding competition.
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22
Effects of Change on Production
New processes and equipment required to adapt to changing business needs.
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23
Effects of Change on Product Development
The expansion of offerings or services to enter new markets.
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24
Effects of Change on Legal Compliance
Adjustments made by businesses to meet new government regulations.
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25
Effects of Change on Workforce
Employee retraining and restructuring to align with new business strategies.
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26
Effects of Change on Market Expansion
Entering new geographical areas or markets for business growth.
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27
Project Management in Change
The planning and implementation of change initiatives with defined objectives.
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28
Project Champion
A key individual responsible for promoting and driving change within the organization.
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29
Employee Commitment in Change
Involvement of employees in the decision-making process to facilitate change.
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30
Imposed Change
Change that is enforced on employees without their input or involvement.
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31
Negotiated Change
Change implemented through discussions and agreements with employee involvement.
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32
Piecemeal Change
Gradual alterations that provide time for adjustment among employees.
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33
Total Change
A comprehensive and immediate transformation in an organization.
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34
Resistance to Change
Employees' pushback against new strategies due to various concerns.
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35
Self-Interest in Resistance to Change
Employees' fears regarding job security or changes to benefits.
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36
Preference for Stability in Change
Employees’ inclination towards maintaining routine and avoiding uncertainty.
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37
Different Assessment Resistance
Employees questioning the validity or necessity of management’s change plans.
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38
Fear & Mistrust in Change
Doubt among employees regarding the intentions behind proposed changes.
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39
Education & Communication in Change
The importance of clearly articulating reasons for change to minimize pushback.
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40
Participation & Involvement in Change
Strategies that engage employees in decision-making to ease transitions.
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41
Support & Training in Change
Assistance provided to employees to help them adapt to new systems.
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42
Negotiation & Agreement in Change
Reaching compromises to implement changes smoothly.
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43
Manipulation & Co-option in Change
The use of key influencers to gain support for change initiatives.
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44
Coercion in Change
The use of force as a last resort to implement change within an organization.
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45
Lewin’s Three-Step Change Model
A framework for implementing change consisting of Unfreeze, Change, and Freeze stages.
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46
Lewin’s Step 1 – Unfreeze
The process of breaking old habits and preparing for change.
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47
Lewin’s Step 2 – Change
The phase where new systems are introduced and supported.
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48
Lewin’s Step 3 – Freeze
Reinforcement of changes through policies and established procedures.
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49
The Role of Leadership in Change
Leaders set the strategy, communicate shifts, and track progress during change.
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50
Richard Branson & Change Leadership
A leader who fosters innovation and employee engagement within his company.
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51
Organisational Culture
The shared values, beliefs, and behaviors that shape a company's environment.
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52
Organisational Culture Impact Example
Comparative example of Google’s flexible culture versus Yahoo’s rigidity.
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53
Evaluating Change Management
The process of measuring the effectiveness of change initiatives.
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54
Marks & Spencer Change Management
Efforts made to close unprofitable locations and refresh the product lineup.
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55
Importance of Managing Change
Essential for preparing businesses to face risks and enhance competitiveness.
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