3.6 Managing Change

What are the internal causes of change?
Changes in organisational size, poor business performance, new ownership, transformational leadership
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What are the external causes of change?
Changes in the market, political change, economic change, social change, technological change, legal change. environmental change
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What are the possible effects of change?
Effect of change on competitiveness (cost minimisation, differentiation), change on productivity, financial performance, change on stakeholders
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What are the key factors of change?
Organisational culture, size of the organisation, time and speed of change, managing resistance to change (communication, involvement, negotiation)
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What are the key risks a business might consider?
Natural disasters, IT systems failure, loss of key staff
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What does mitigating risk mean?
Taking actions that will reduce risk
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How can a business mitigate risk?
Business continuity (planning to restore things to normal) Succession planning (Thinking hard and planning ahead for when a leader leaves and must be replaced)
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Card 2

Front

What are the external causes of change?

Back

Changes in the market, political change, economic change, social change, technological change, legal change. environmental change

Card 3

Front

What are the possible effects of change?

Back

Preview of the front of card 3

Card 4

Front

What are the key factors of change?

Back

Preview of the front of card 4

Card 5

Front

What are the key risks a business might consider?

Back

Preview of the front of card 5
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