What are external changes?
The firm cannot control these changes. External causes of change can come from any of the pestel -C factors.
What are examples of external changes?
Social trends, laws/regulations, economic conditions
What are internal causes?
They come from within the business and is change that is caused by the decisions the business makes.
What are some examples of internal changes?
Growth, de-layering, change due to a new leader, change due to poor performance.
What are the 4 types of change?
Rapid and unexpected, long term, incremental, disruptive
What is rapid and unexpected change?
Natural disasters etc.
What is long term change?
There are predictable changes that can be planned for, eg. Ageing population, shift in economic power
What is incremental change?
Step by step change. Many small changes made day-to-day as management respond to threats and opportunities.
What is disruptive change?
‘Game-changing’ developments in industry. For example, rapid improvements in technology have been a leading driver of disruptive change.
What is change management?
An approach that ensures that changes are smoothly and successfully implemented and that lasting benefits of change are achieved.
What is Lewin’s force field analysis?
It’s when you weigh up the advantages and disadvantages of a project to help decide whether any proposed change is worth implementing.
What is Lewin’s force field analysis?
It is a way of weighing up the pros and cons of a project, to help decide whether any proposed change is worth implementing. These are known as driving and restraining forces.
What is a driving force?
A push for change
What is a restraining force?
Act against a proposal for change
What is an equilibrium?
The restraining and driving forces cancelling each other out.
Explain the layout of Lewin’s force field analysis.
What are some problems using the force field analysis?
Not all relevant forces may be considered.
The weights attached to the forces are subjective and may be biased.
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The Nature And Purpose Of Business18
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Busines And The External Environment19
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The Measurement And Importance Of Profit16
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Understanding Management Decision Making28
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The Role And Importance Of Stakeholders27
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Marketing62
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Marketing- Understanding Markets And Customers16
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Marketing- Segmentation, Targeting And Positioning19
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The Marketing Mix: The 7ps11
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Marketing Mix- Promotion31
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Marketing Mix- Place12
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Marketing Mix- People, Process And Physical Environment6
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Digital Marketing And E Commerce17
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Formulas33
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The social environment38
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The Technological environment9
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Ratio Analysis38
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Assessing Innovation35
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using financial data to assess performance42
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The Balance Sheet12
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Investment Appraisal17
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Assessing A Change In Scale64
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Managing Change18
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Resistance To Change: Kotter And Schlesinger20
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Problems With Strategy And Why They Fail30
