Unit 4 Topic 2 Transformation of a business

Question 1

Competition can have a direct impact on a business and can be a driver of change. Examples include

Accepted Answer

advertising, product, technology, pricing

Question 2

Driving corporate change requires a business to consider the following actions:

Accepted Answer

Lead and manage, Communicate again and again, Assess the current culture of the business, Revisit the strategic vision of the business

Question 3

Employees can exert pressures on a business for changes in

Accepted Answer

Internal processes, Working coditions, Skill requirements

Question 4

An important element in managing change is the style of management that is needed to facilitate the change. You need to

Accepted Answer

be a communicator, be a liaison, be an advocate

Question 5

A strong corporate culture can

Accepted Answer

motivate employees, create efficiency, create effectiveness

Question 6

The internal, operating and macro environments including stakeholders need to be managed before, during and after change

Accepted Answer

True

Question 7

Business leaders need to be able to identify and influence the need for change

Accepted Answer

True

Question 8

What does resistance to change look like?

Accepted Answer

Hostility in the workplace, Employee apathy, Reduction in output, Employees striking

Question 9

Change refers to the continual alteration of strategies, processes or structures in response to what?

Accepted Answer

Internal pressures, External forces

Question 10

During the decline stage a business may find itself in administration

Accepted Answer

True

Question 11

Strategies for overcoming resistance to change include

Accepted Answer

participation, threat, Communication, negiotiation

Question 12

What does the external environment include?

Accepted Answer

Customers, Suppliers

Question 13

The socio-cultural environment determines which goods and services will sell

Accepted Answer

True

Question 14

Why does change happen?

Accepted Answer

Unexpected circumstances, To improve competitiveness, Intentional actions to facilitate growth, It's inevitable

Question 15

The actions of a competitor may force a business to reassess its operations and implement changes including

Accepted Answer

finding a niche in the market, being the lowest cost supplier in an industry, using different approaches, offering innovative products or services

Question 16

A business needs to understand the changing needs of customers and must

Accepted Answer

focus on customer relationship management, be customer centric, be customer focused

Question 17

Corporate culture can affect whether organisations can implement change and whether the change will be successful

Accepted Answer

True

Question 18

Reasons for resistance to change include

Accepted Answer

timing, trust, fear of the unknown, communication

Question 19

Environmental factors leading to change include

Accepted Answer

plastic bags, renewable energy, increase in pollution

Question 20

What is change management?

Accepted Answer

Transition from one state to another

Question 21

A business requires suppliers that are reliable and competitively priced to ensure the success of operations

Accepted Answer

True

Question 22

If the organisational culture is impacting on the business in a negative way management must

Accepted Answer

Intervene, decide how it must be changed

Question 23

Changes in legislation, regulation and contracts include

Accepted Answer

food labeling, pollution control, equal opportunity, renewable energy

Question 24

Changes in legislative compliance influence changes in strategic management

Accepted Answer

True

Question 25

An organisation may need to be changed if there are

Accepted Answer

business growth, operational changes, economic downturn, changes in ownership

Question 26

A flatter organisational structure provides a greater opportunity to respond to respond to change quickly

Accepted Answer

True

Question 27

The key roles in managing change are to

Accepted Answer

control, lead, organise, plan

Question 28

What skills do owners and managers need to survive change?

Accepted Answer

The ability to formulate strategies which effect operations, The ability to manage profit, Leadership skills, The ability to implement policies and procedures

Question 29

Political factors include

Accepted Answer

federal, State, local

Question 30

Changes in technology may provide opportunities to

Accepted Answer

create new products or services, improve the quality and range of products and services, increase efficiency, improve productivity

Question 31

Drivers of change include

Accepted Answer

Corporate culture, Organisational structure, Management style

Question 32

Which stage includes steady state, decline or renewal?

Accepted Answer

The post maturity stage

Question 33

What does the internal environment include?

Accepted Answer

Employees, Owners and managers

Question 34

Economic changes that influence a business include

Accepted Answer

government expenditure, inflation, industrial relations, interest rates

Unit 4 Topic 2 Transformation of a business

Questions 34

Unit 4 Topic 2 Transformation of a business

Questions 34