Business, Unit 4, WJEC Comprehensive Test Prep Actual Questions And Correct Detailed Answers.
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Course
W JEC
Institution
W JEC
Internal causes of change - correct answer Changes in management style, changes In business size, new technology
External causes of change - correct answer New technology, labour market e.g. minimum wage,...
Internal causes of change - correct answer Changes in management style,
changes In business size, new technology
External causes of change - correct answer New technology, labour market e.g.
minimum wage, competition consumer taste, new legislation
Effects of unplanned change - correct answer Shorter product life-cycle,
dismissed brand loyalty, retraining of workforce
Effects of planned change - correct answer Employee preparation, increased
research and development,
Storey's Four method of implementing change - correct answer Negotiated
total package, negotiated piecemeal Initiatives, imposed piecemeal initiatives, imposed total package
Negotiated total package - correct answer Management and workers negotiate
on how a major change in the way a business functions will be implemented
Negotiated Piecemeal Initiatives - correct answer Management and workers
will consult and agree on various changes as they become necessary
Imposed piecemeal initiatives - correct answer Managers plan and implement
changes such as a move to flexitime or the development
of quality circles in order to solve particular problems.
Imposed total package - correct answer Senior management plan and
introduce a major change all at once without consultation with workers
, Lewin's 3 step process of change - correct answer Unfreezing, Change or
Transition, Refreezing
Risk definition - correct answer Circumstance or factor that may have a
significant negative impact on the operations or profitability of a given business.
Types of quantitative risk - correct answer Financial, operational, strategic and
compliance risks
Internal risks - correct answer Product failures, failure of equipment, employee
error, public relations
Risk management - correct answer Process of understanding and minimising
what might go wrong in an organisation
Examples of ways preventing risk - correct answer Train staff properly, regular
back ups of IT systems, instal a sprinkler system
Contingency plan - correct answer Action to be followed in the event of an
emergency or crisis occurring which threatens to destroy or significantly disrupt the continued operation
of normal business activities, can be costly
What does PEST stand for - correct answer Political, economic, social and
technological environments that effect businesses
Political factors - correct answer National security, stability, major trading
partners, pressure groups - can lead to political changes e.g. smoking law
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