Internal changes that organisations encounter - Leadership Changes (new vision/style/goals); Adoption of technology (software/systems); Restructuring (job losses); business model; Organisational (hybrid), External changes that organisations encounter - Consumer Expectations (trends); Economic (inflation, tariffs); Regulatory (laws, compliance); Digital (disruptive models); Competitors (innovation, prices), Reasons for resistance to change in an organisation - Fear of Job Losses, Fear of Failure, No Clear Benefit Communicated, Inertia, Fear of Job Losses (Reasons for resistance to change in an organisation)  - Spot potential problems before they happen - act early to avoid major financial losses, legal issues, or reputational damage through prevention, Fear of Failure (Reasons for resistance to change in an organisation)  - Worry they lack skills, training, or confidence needed to adapt – provide training,support, No Clear Benefit Communicated (Reasons for resistance to change in an organisation) - Staff may see change as a threat/unnecessary – need to be sold the benefits to them. , Inertia (Reasons for resistance to change in an organisation) - Employees comfortable with way things have always been done; needs inspiration, Practices that promote innovation - Leadership Culture that Encourages Risk-Taking, Provide training and resources to staff, Use of teamwork and collaboration, Recognition and Rewards for innovation, Approaches to overcome resistance to change - Lead by example, Open communication and consultation, Training and resource support, Rewarding staff, Employee Empowerment, Rewarding staff, Use of teamwork and collaboration, Strategic planning - Ongoing process of defining an organisation's long-term goals and determining the best way to achieve them, Strategic Planning as an ongoing process  - Needs review, adaption - evaluation and control of plan, adjust based on changing environment (competitors, technology, target market habits), learnings/risks emerge, Benefit of strategic planning  - Clarity and Direction, Ability to Manage Change, Resource Efficiency, Competitive Advantage, Clarity and Direction (Benefit of strategic planning) - Provides a roadmap, reduces confusion for management making decisions, Ability to Manage Change (Benefit of strategic planning) - Helps respond to unexpected challenges quickly, gives structure to change, Resource Efficiency (Benefit of strategic planning) - Reasoned allocation of resources based on strategy (staff, capital, equipment), Competitive Advantage (Benefit of strategic planning) - Scanning the environment on ongoing basis encourages innovation to stay ahead, Force field analysis: Definition  - Used to identify and analyse driving forces and restraining forces for proposed change, Force field analysis - List forces; assign weight based on strength of each; strengthen driving forces, reduce restraining forces; compare strength of all driving forces to restraining forces to decide if the strategic plan can succeed., Contingency Plan: Definition - Back-up plan organisation prepares to deal with disruption from unexpected events or emergencies, Contingency Plan - Helps respond quickly, protects assets, maintain operations, minimise damageContingency Plan, Factors when developing a contingency plan - Cost, Timing, Risk, Communication, Cost (Factors when developing a contingency plan)  - Cost-benefit of plan – costs include training, back-up equipment, securing suppliers, Timing (Factors when developing a contingency plan) - How sudden or time-sensitive disruption can be – more sudden, more panic, needs plan, Risk (Factors when developing a contingency plan) - Prioritise high probability risks and high impact risks , Communication (Factors when developing a contingency plan) - Plan for who to contact, how to notify stakeholders, how to control messaging with public,

Chapter 16 Key Takeaways

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