Level 2 Diploma in Business Administration presentation Power
Level 2 Diploma in Business Administration • presentation Power. Point Understand employer organisations Handout 10: Change © 2014 City and Guilds of London Institute. All rights reserved. 1 of 8
Level 2 Diploma in Business Administration Why is change important to business? To keep up with changing customer needs and expectations. To survive in a constantly-evolving market. To keep abreast of competitors. To find more efficient ways of operating. To introduce innovation. To attract more customers and therefore profit. © 2014 City and Guilds of London Institute. All rights reserved. 2 of 8
Level 2 Diploma in Business Administration Reasons changes happen in business • • • • mergers acquisition of new companies new ownership of company loss of revenue changes in legislation rising costs new strategies sales reviews new technology economic/political changes relocation introduction of new products/services changes in procedures/systems. © 2014 City and Guilds of London Institute. All rights reserved. 3 of 8
Level 2 Diploma in Business Administration Types of change Changes are either • internal or • external to the organisation. © 2014 City and Guilds of London Institute. All rights reserved. 4 of 8
Level 2 Diploma in Business Administration Internal changes may relate to • • • technologies used systems and procedures strategy culture structure staff, teams and leaders. © 2014 City and Guilds of London Institute. All rights reserved. 5 of 8
Level 2 Diploma in Business Administration External changes may relate to: • emerging new technologies • the market • the economic and political climate • new regulations or legislation • competitors • the environment. © 2014 City and Guilds of London Institute. All rights reserved. 6 of 8
Level 2 Diploma in Business Administration Review working methods, products or services When an organisation reviews its working methods, produces or services, it may impact upon one or more of the following: • • the business as a whole management structures departments within a business employees in teams individual employees customers competitors. © 2014 City and Guilds of London Institute. All rights reserved. 7 of 8
Level 2 Diploma in Business Administration Reasons for reviewing working methods, products or services • • • loss of sales new technology new competitors changing markets economic factors customer feedback increase profitability continuous improvement meeting legislative requirements. © 2014 City and Guilds of London Institute. All rights reserved. 8 of 8
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