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Summary Managing Change £4.49   Add to cart
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  2.  
  3. PEARSON (PEARSON)
  4.  
  5. Business
  6.  
  7. Unit 3 - Business decisions and strategy

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Summary Managing Change
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Describes the different causes of change (e.g. organisational size, new ownership), the effects of change, key factors in change, managing resistance to change, and scenario planning

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  • September 28, 2020
  • 4
  • 2019/2020
  • Summary

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Theme 3 Topic 16
Managing Change
Causes of Change
Organisational Size

 The size of an organisation naturally changes at it grows
 Requires restructuring and adopting policies and procedures to manage expansion
 Can grow through organic or inorganic (merger/takeover) growth

Poor Business Performance

Can be measured by indicators such as:

 Poor sales figures
 Lower profits
 Increased costs
 Slower expansion than planned

Businesses go through a period of change, as a result, as they implement new strategies to improve
performance

New Ownership

 May result as the business grows
 E.g. a business changing from a private limited company (ltd) to a public limited (plc) will raise finance
by selling shares on the stock exchange
- The business may then be owned by institutional investors e.g. pension funds and banks
 If a business goes through a process of merger or takeover it will have new owners

Transformational Leadership

 Occurs when a new Chief Executive is appointed
 The new leader is often appointed as a result of poor business performance
 They are expected to transform the performance of the business by implementing a new vision or
strategic decision for the business

PESTLE

Political, Economic, Social, Technological, Legal and Environmental factors are constant external causes of
change that businesses have to anticipate and respond to



Effects of Change
Competitiveness

 Businesses that are slower to respond to change than their rivals become less competitive
 If a business is first to innovate or adopt a new technology, responds fastest to changing consumer
needs or implements policies that adhere to new legislation, it might be able to gain a competitive
advantage

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