Unit 3 AOS 1
Outline one feature of a partnership
A partnership has 2-20 owners
What are the 5 stages in Maslow's Hierarchy of Needs?
Physiological, Safety, Social, Self-Esteem, Self-actualisation
What are the key elements of an operations system?
Inputs, Processes, Outputs
Explain how legislation may act as a driving force for change
A business may be forced to change as a new law has been put in place
What management strategy would be appropriate for responding to an increase in staff turnover?
change in management style, staff motivation, staff training
Outline two features of a private limited company
1. Can have 1-50 shareholders
2. Shares are not listen on the ASX
Outline two entitlement considerations for an employee who is made redundant.
- payment of accrued annual and long-service leave
- redundancy pay
What are two characteristics of a manufacturing business?
produces tangible goods that can be touched, standardised production, capital intensive, can be stored
Describe what a differentiation strategy is and provide a contemporary example
Where a business makes their product unique or superior so they can charge a premium price. E.g. Apple, Qantas, etc.
Outline one strategy a business can implemented to develop a positive corporate culture
Identify all 5 management styles
Autocratic, Persuasive, Consultative, Participative, Laissez-Faire
Outline one difference between an award and an agreement.
1. Award sets out minimum conditions of employment, whereas an agreement usually has improved conditions.
2. Award is set by the fair work commission, whereas an agreement is negotiated between employer and employees at a business.
What are the waste minimisation strategies? (3)
Reduce, Reuse, Recycle
What is the difference between proactive and reactive change?
Proactive is where a business foresees a change in the environment and acts before they are impacted, whereas reactive is where a business acts after they are impacted by the shift in environment
What was one CSR consideration for Qantas when closing down Jetstar Asia?
Employees - providing support such as career counselling and employment services to help them find a new job after being made redundant
Explain how a conflict may exist between managers and customers?
What are the 5 principles of Locke and Latham's Goal Setting theory?
Clarity, Challenge, Task Complexity, Commitment, Feedback
What is global outsourcing and what is one major advantage for businesses that use it?
Global outsourcing is when a business hires external companies in other countries to perform tasks or services, and one major advantage is that it reduces costs
Explain how organisational inertia may act as a restraining force for change
A business may not want to change because they do not want to move from their comfort zones
What are all the low-risk (4) and high-risk (2) strategies to overcome employee resistance??
Communication, Support, Incentives, Empowerment, Manipulation, Threat
What are the four factors that influence the appropriateness of the management style used by a manager?
Nature of task, time, experience of employees, manager preference
Identify all 4 performance management strategies.
Management by Objectives, Appraisal, Self-evaluation, Employee observation
What are the 5 technological strategies and which one does Netflix use?
Automated Production Lines, Robotics, CAD, CAM, AI, Online Services
Netflix uses AI and Online Services
What are the four principles of Lewin's Force Field Analysis?
Weighting, Ranking, Implement Response, Evaluate Respone
What are the principles of Senge's Learning Organisation?
Personal mastery, mental models, build shared vision, team learning, systems thinking