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BME Exam S1 Study Questions with Complete Verified Solutions
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  • Course
  • BME
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  • BME

Factors that impacto on the sucsess of innovation - ANSWER - Timing - Cost - Marketing strategy - Technology Internal/ External factors that drive change in a global market - ANSWER - Customers (Ext) - Competitors (Ext) - Mangement (Int) - Technological Processes (Ext)

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  • August 24, 2024
  • 10
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • bme exam s1 study questions

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  • BME
  • BME

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BME Exam S1 Study Questions
with Complete Verified Solutions
Factors that impacto on the sucsess of innovation - ANSWER - Timing

- Cost

- Marketing strategy

- Technology



Internal/ External factors that drive change in a global market - ANSWER - Customers

(Ext)

- Competitors (Ext)

- Mangement (Int)

- Technological Processes (Ext)



Reasons for resistance to change - ANSWER - Financial Costs

- Managerial Inertia

- Cultural Incompatibility

- Staff attitude



Methods for change - ANSWER - Lewins Forcefield analysis model

, - Kotters 8 Step Program



Kotters 8 steps - ANSWER 1. Create a sense of urgency

2. Form a powerful coalition

3. Create a vission for change

4. Communicate the vission

5. Remove obstacles

6. Create short term wins

7. Build on change

8. Anchor the change



Define Globalisation - ANSWER The removal of economic boundaries, which creates

freer international trade and movement of capital.



Define Deregulation - ANSWER Dergulation is the revision, reduction or elimination of

laws and regulation that hamper the supply of goods and services to customers.



Define WTO - ANSWER The WTO aims for the removal of barriers to international trade

in goods, services and intellectual property.



Define Business Ethics - ANSWER Ethics is defined as the moral principles

that gouverns a companys behaviour with a given task.

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