Forces for Change
The full name of the theorist behind the 'Force Field Analysis Theory'.
Who is Kurt Lewin?
The restraining force that refers to staff who may be opposed to change or reluctant to implement it.
What is employees?
Michael Porter theorised a business could gain competitive advantage through either cost leadership or this other strategy.
What is differentiation?
The current RBA cash interest rate as at today (14 October 2023).
What is 4.35%
In Lewin's Force Field Analysis Theory, if the driving forces are met by restraining forces at a similar level then this outcome is likely.
What is the change will not be successful?
This restraining force refers to limits on how long a business has to respond to change and refers to the need to respond rapidly or risk losing market share to competitors.
What is time?
The six ways Porter theorised a business could differentiate itself include distribution, training, innovation, relationships, marketing and through this other feature.
What is quality?
Legendary Spanish tennis player who recently announced he's retiring.
Rafael Nadal
This driving force refers to the growing level of interdependence between nations that leads to the growing integration and rising competition of international businesses and economies.
What is globalisation?
This restraining force refers to the fact that lack of access to finance can be an inhibitor for many small businesses and likewise large businesses can face liquidity challenges when financing change initiatives.
What is financial considerations?
Porter theorised that businesses should use this planning tool to determine which of the generic strategies to adopt?
What is a SWOT analysis?
Two supermarket giants who are under-fire due to 18% increase in grocery prices over the last two years.
Coles and Woolworths
This group is likely to shift societal attitudes in the workplace as new expectations around leadership, diversity, inclusion, mental health, and flexibility will become norms.
The business from the media analysis we examined which is driving the revenue of it's parent company, Westfarmers.
What is KMART?
The five forces that Porter stated need to be analysed when determining which generic strategy to use.
What is supplier power, buyer power, competitive rivalry, threat of substitution and threat of new entry?
This final leader of the Soviet Union who has been celebrated for his role in ending the Cold War.
Who is Mikhail Gorbachev?