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November 28, 2020, 08:00:27 am

Author Topic: Unit 4: Topic 2 Brain Dump  (Read 153 times)

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j4xon

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Unit 4: Topic 2 Brain Dump
« on: October 21, 2020, 12:13:15 am »
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Change + Models/Theories

Driving Forces - "Driving forces are forces that drive change"
- Corporate Culture
- Legislative Compliance
- Competition
- Management Styles
- Organisational Structure

Resistance to change - "Forces that resist a change"
reasons for resistance may include;
- Timing
- Communication
- Trust
- Unknown
- Fear

Kotter's 8-step change management model
Step 1: Create a sense of urgency
Step 2: Form a powerful coalition
Step 3: Create a vision for change
Step 4: Communicate the vision
Step 5: Empower action
Step 6: Create small wins
Step 7: Build on the change
Step 8: Make it stick

Lewin's Ice-Cube Theory
- Unfreeze
- Change
- Refreeze

"Leadership Strategies" to overcome resistance to change
- Communication
- Participation
- Negotiation
- Manipulation
- Threat

Marketing Management Strategies
- Product
- Place
- Promotion
- Price
- People

Operational Management Strategies
- Production - ie. sustainability
- Process - ie. how you produce the product. (Automation)
- Quality Control - ie. AI

Financial Management Strategies
- Profitability
- Growth
- Efficiency
- Liquidity

Human Resource Management Strategies
- Reward systems
- Flexible working arrangements
- Retraining/Development

Internal Operating Environmental Factors
- Organisational Culture
- Organisational Structure
- Employees
- Owners/Managers

External Operating Environmental Factors
- Customers
- Interest groups
- Suppliers
- Competitors

External Macro Environmental Factors
- Social-Cultural
- Technological
- Environmental
- Ethical
- Political
- Legal
- Economical

Oligopoly- where multiple competitors control the market
Monopoly- where one single business controls the market
Duopoly- where two direct competitors control the market

Vision For Change - the 'why'
Strategic Planning - the 'how'