Business Change & Leadership
What term refers to anticipating changes rather than responding to them after they occur?
Proactive
Name a key performance indicator related to employees' presence.
Staff Absenteeism
What management technique involves minimising expenses?
Cost cutting
How does globalization drive business change?
Expanded markets & competition
Who formulated the Force Field Analysis theory?
Lewin
What indicator measures efficiency?
Level of wastage
How does redeployment of resources affect a business?
Resource optimisation
Name a way technology can drive change.
Automation
Name a common driving force for change related to technology.
Innovation
What can website hits indicate for a business?
Online engagement/popularity
What's the benefit of innovation for new business opportunities?
Competitive advantage
What's the role of legislation in global business?
Regulation
What's one low-risk strategy to overcome employee resistance?
Communication, empowerment, support, incentives
Which indicator shows the performance of a business compared to competitors?
Market Share
What is global sourcing?
Acquiring inputs from around the world
How can global outsourcing impact a business's finances?
Cost savings
What are the two key approaches in Porter’s Generic Strategies?
What two things does staff turnover measure?
Employees leaving and needing to be replaced.
What is a potential benefit of overseas manufacturing?
Lower production costs
How can societal attitudes drive global change?
Shaping demand, ethics