Summary Chapter 6 - Managing change: A level edexcel business studies revision summaries
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Course
Business economics
Institution
Bachillerato
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Contents
zMANAGING CHANGE (6)............................................................................................................................1
KEY FACTORS TO CHANGE (20)................................................................................................................1
ORGANIZATIONAL CULTURE................................................................................................................1
MANAGING RESISTANCE TO CHANGE..................................................................................................2
TRANSFORMATIVE LEADERSHIP..........................................................................................................2
CONTINGENCY PLANNING (21)................................................................................................................2
PLANNING FOR RISK MITIGATION........................................................................................................3
KEY FACTORS TO CHANGE (20)
POSSIBLE CAUSES OF CHANGE IN BUSINESS
Businesses operate in rapidly changing markets and conditions. They must constantly be aware of
organizational change in a number of areas and be prepared to respond to it.
Business size: Generally, the size of an organization will naturally change as it seeks to grow. The
size of a business may significantly affect its ability to manage successful change.
Poor business performance: often, after a period of poor performance, changes will happen
quickly. business leaders will try to improve performance before failure and possible closure.
Market change and other external factors: These include PESTLE factors. Companies will often
be required to adapt and change in line with these external influences however these are often
unexpected, sizable, and very difficult to plan for.
Changes in ownership: the change in ownership of a business may come from internal or
external growth. A change in ownership may become necessary as a business goes through the
process of a merger or acquisition.
MANAGING CHANGE
Change management is the process of organizing and introducing new methods of working in a
business.
ORGANIZATIONAL CULTURE
Resistance to change may often be found in the culture of an organization. Customs and practices are
fixed in systems that reflect the norms, values, and beliefs of the organization. These give the
organization stability, but it can also become inflexible.
Although a strong culture may give a company a competitive advantage, it can also be a weakness.
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