Change

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  • 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

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