Unit 4 - AOS 2 (VCE Business Management)

Define leadership.

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Answer explanation

the ability to influence or motivate people to work towards the achievement of business objectives

Match the following terms to complete the management strategies used to respond to KPIs and seek new business opportunities.

• technology

• cost

• training

• increased investment in

• inputs

• improving quality in

• production

• global sourcing of

• cutting

• staff

Identify the benefits of having a positive corporate culture.

• employees experience high morale and a positive attitude toward the business. Improved morale should increase employee productivity

• business gains a positive reputation, allowing it to attract talented and skilled employees

• employees become more loyal to the business. This should reduce the level of staff turnover.

• employees become lazy and too comfortable in the workplace.

Outline the principles of Senge's Learning Organisation.

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Organize these options into the right categories

Groups:

(a) High-risk strategies

,

(b) Low-risk strategies

• threat

• manipulation

• incentives

• support

• communication

• empowerment

​ The ​ (a)   step involves ​ (b)   the business for ​ (c)   ​

• unfreeze
• preparing
• change
• refreeze
• moving
• new situations

The ​ (a)   step involves putting ​ (b)   in place to make sure the change is ​ (c)  

• refreeze
• strategies
• stabilised.
• unfreeze
• tactics
• unstable

Discuss the effect of change on one stakeholder.

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the obligations a business has over and above its legal responsibilities to the wellbeing of employees and customers, shareholders and the community, as well as the environment

Reorder the following to outline the process of reviewing KPIs to evaluate transformation.

• Establish objectives

• Develop strategies

• Evaluate performance

• Implement management strategies

• Review key performance indicators