Effect of Change on Stakeholders (VCE SSCE Business Management): Flashcards
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Practise the cards
10 cards from this deck
Stakeholders definition
Stakeholders definition
Individuals/groups with interest in or affected by business
5 key stakeholder groups affected by change
5 key stakeholder groups affected by change
Managers, employees, customers, suppliers, general community
Dual challenge managers face during change
Dual challenge managers face during change
Own adjustment + implementing change with teams
Management style shift during change
Management style shift during change
From autocratic to participative/consultative
2 things employees need to understand about change
2 things employees need to understand about change
Why change is happening & what's in it for them
% of employees who fully understand company strategies
% of employees who fully understand company strategies
Around 5%
Critical elements of customer communication in change
Critical elements of customer communication in change
What is changing & benefits those changes will bring
What supplier codes of conduct establish
What supplier codes of conduct establish
Standards suppliers must meet to maintain relationship
SEDEX stands for
SEDEX stands for
Supplier Ethical Data Exchange
Community impacts of business relocation/closure
Community impacts of business relocation/closure
Employment loss, economic decline, service/property reduction