Change
- Created by: Jess
- Created on: 02-12-12 18:37
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- Change
- Causes of change
- Government policy
- Economic climate
- Legislation
- Changes in competition
- Consumer tastes
- New technology
- Labour market
- Impacts of change
- increased need to spend on research and development
- people want immediate returns
- lifecycles are much shorter
- shorter product lifecycles
- lower brand loyalty
- new firms can enter a market and gain market share
- obsolete equipment
- increased advertising costs
- skills mismatch
- lack of relevant personnel
- goods may be seen as more disposable
- Response to change
- employ specialist staff
- capital investment
- employee committment
- motivation
- communication
- staff training and recruitment
- Problems with change
- image
- ethics
- cost
- financial problems
- lack of experience
- legal problems due to not following a new law
- workers resistance
- Causes of change
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