Finance Strategies
The focus of a business should be minimising costs to maximise...
profits
The HR manager needs to help influence change by helping employees...
understand the change, improve skills and proficiency
What should marketing strategies focus on?
the customer and market share
What is the focus of operations strategies?
productivity and competitive advantage
List 3 areas of a business impacted by change
management, employees, customers, suppliers
improve business growth by getting rid of things we no longer need
sell assets
How can HR help upscale employees?
training programs
What strategies focus on USPs?
Product
What strategies focus on production?
develop new products
Name 2 low risk strategies
negotiation and participation
improve business growth by reducing expenses or collecing money faster
improve cash flow
How can HR help monitor performance?
KPIs
What strategies balance profits with sales?
Prices
What strategies focus on process?
new technology
Name 2 high risk strategies
threat, manipulation
improve business growth by relying of break even analysis
increase prices
How can HR helpreinforce behaviour changes?
rewards systems, a code of conduct
What strategies focus on customers and suppliers?
Place
How can operations improve customer satisfaction?
What is a change agent?
someone who takes responsibility for change
improve business growth by changing suppliers or looking for cheaper items
reducing expenses
How can HR improve the impact of removing employees?
offering redundancy packages
What strategies focus on making a team for reaching marketing objectives?
people
How can operations increase output capacity?
change locations, equipment or resources
What is the communication continuum strategy?
awareness
understanding
acceptance
alignment
commitment