Transformation of a business: Change management

Which of the following statements are true?

• The business world is a dynamic and evolving environment that experiences rapid change

• Being willing and able to adapt to change is a quality any successful business should have

• A business must embrace change; otherwise, it risks losing its competitive edge and fails to meet the needs of consumers

What are the three alternatives that a business in the post-maturity stage of the business life cycle could experience?

• steady state

• decline

• renewal

• resistance

What is meant by the term 'steady state'?

• sales remain plateaued, the business neither expands nor declines

• decreased sales could result in closure of the business

• a new product is released and the business increases sales

What is meant by the term 'decline'?

• sales remain plateaued, the business neither expands nor declines

• decreased sales could result in closure of the business

• a new product is released and the business increases sales

What is meant by the term 'renewal'?

• sales remain plateaued, the business neither expands nor declines

• decreased sales could result in closure of the business

• a new product is released and the business increases sales

Which of the following statements are true?

• A business in steady state, decline or renewal could influence a business to consider a transformation and a new focus on change management and renewal outcomes

• Business transformation aims to implement change management strategies to align people, processes and practices more closely to a business's vision for growth and improvement

• Reasons for change could include market changes, technological advances or an increase in competition

Which of the following statements are true?

• Change refers to the continual alteration of strategies, processes or structures in response to internal pressures and external forces

• A change agent is someone who acts as a facilitator and assumes responsibility for the management of change to enable a business to transform

• Successful businesses are those that can respond, manage and adapt to change or drive change in the market.

• Change is constant and inevitable in business

What is change management?

• The process of transforming a business from its current state to a desired future state

• The continual alteration of strategies, processes or structures in response to internal pressures and external forces

• Someone who acts as a facilitator and assumes responsibility for the management of change to enable a business to transform

• The 'why' of the change that describes the desired or future state of the organisation after change has been implemented

Change management requires a structured approach that includes planning, implementing, controlling and reviewing processes in a business. Is this statement true or false?

• True

• False

What is the aim of change management?

• To implement strategies for effecting change in a business

• To define the overall purpose and goal of a business and determine how results will be achieved

• To implement change as quickly as possible

• To implement change as slowly as possible