Understanding Change Management

Who said that every success story in business is a tale of constant adaption, revision, and change?

• Bill Gates

• Steve Jobs

• Richard Branson

• Jack Welsh

What did Jack Welsh exhort business leaders to do?

• Embrace change

• Avoid change

• Ignore change

• Challenge change

Why is change considered a necessary part of business life?

• Because it's easy

• Because it's expensive

• Because it's a requirement due to evolving external environments

• Because it's optional

What might happen if a business does not respond to changes in the external environment?

• It may lose its competitive advantage

• It may gain a competitive advantage

• It may expand rapidly

• It may become more efficient

What is one potential benefit of de-layering in an organization?

• Increased complexity

• Decreased efficiency

• Benefit from change

• Increased costs

What type of change is the text primarily discussing?

• Temporary change

• Step change

• Incremental change

• Unplanned change

What is one reason businesses make internal decisions to change?

• To avoid making decisions

• To adapt to market demands

• To decrease communication

• To increase organizational layers

What does embracing change in business decisions hopefully provide?

• Losses

• Confusion

• Benefits

• Challenges