3.6 Business Revision

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State 5 factors that may cause change in a business?
Changes in organisational size/ Poor business performance/ New ownership/ Transformational leadership/ The market and other external factors (PESTLE)
1 of 5
What are the 4 key factors in managing change?
Organisational culture/ Size of organisation/ Time/speed of change/Managing resistance to change
2 of 5
What are the reasons for stakeholders in a business to resist change?
Disagreements with the reasons to change/ Fear of the impact/ Lack of understanding/ Lack of involvement
3 of 5
What is scenario planning?
A strategic planning method designed to explore uncertainties, learn how to protect the business from their worst consequences and prepare how to exploit any opportunities that might present themselves
4 of 5
Identify 5 steps in a scenario plan?
1. Identify possible trends and issues 2. Build possible scenarios 3. Plan response 4. Identify the most likely scenarios 5. Capitalise on scenarios
5 of 5

Other cards in this set

Card 2

Front

What are the 4 key factors in managing change?

Back

Organisational culture/ Size of organisation/ Time/speed of change/Managing resistance to change

Card 3

Front

What are the reasons for stakeholders in a business to resist change?

Back

Preview of the front of card 3

Card 4

Front

What is scenario planning?

Back

Preview of the front of card 4

Card 5

Front

Identify 5 steps in a scenario plan?

Back

Preview of the front of card 5

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