https://padlet.com/lhopkins13/g8anez83u7lz Made with a wish on a star en-us 2019-01-22 09:19:27 UTC 2019-02-26 14:27:19 UTC hello@padlet.com https://padlet-assets.s3.amazonaws.com/icons/Manbag.png https://padlet.com/lhopkins13/g8anez83u7lz/wish/322902053 change is an ongoing process and business cannot avoit having to deal with it conseguences. 
major causes of rapid change include: 
* introduction of new technology 
* changese in compition 
* changing consumer tastes 
* new lgislation 
* labour market changes 
* changes in economic conditions 
* change in business ownership  ]]> 2019-01-22 10:05:50 UTC https://padlet.com/lhopkins13/g8anez83u7lz/wish/322902053 https://padlet.com/lhopkins13/g8anez83u7lz/wish/322902060 Business risk is a circumstance or factor that may have a significant negative impact on the operations or profitability of a given business]]> 2019-01-22 10:05:51 UTC https://padlet.com/lhopkins13/g8anez83u7lz/wish/322902060 https://padlet.com/lhopkins13/g8anez83u7lz/wish/322902108 The European Union is a collection of countries, which aim to co-operate on trade, social affairs abnd certain laws ]]> 2019-01-22 10:06:04 UTC https://padlet.com/lhopkins13/g8anez83u7lz/wish/322902108 https://padlet.com/lhopkins13/g8anez83u7lz/wish/322902240 Instability - Having a stable economic and legal framework so that a business can operate and grow.
National security - As governments aim to protect citizens, new measures could restrict the movement of goods, people and capital in a business.
Major Trading partners - The UK will no longer be a part of the single market so they will have to make new agreements with the 27 countries.
Changes in government - New legislations putting restrictions on businesses.
Pressure groups - These include campaigns such as being against tobacco, alcohol and gaming inductries.]]> 2019-01-22 10:06:41 UTC https://padlet.com/lhopkins13/g8anez83u7lz/wish/322902240 https://padlet.com/lhopkins13/g8anez83u7lz/wish/322902322 * Financial risk
* Operational risk
* Strategic risk
* Compliance risk]]> 2019-01-22 10:07:01 UTC https://padlet.com/lhopkins13/g8anez83u7lz/wish/322902322 https://padlet.com/lhopkins13/g8anez83u7lz/wish/322902337 International trade consists of buying and selling of exports and imports between countries. ]]> 2019-01-22 10:07:02 UTC https://padlet.com/lhopkins13/g8anez83u7lz/wish/322902337 https://padlet.com/lhopkins13/g8anez83u7lz/wish/322902367 - Employees
- Suppliers
- Customers
- Environmental ethics
- Animal welfare]]> 2019-01-22 10:07:09 UTC https://padlet.com/lhopkins13/g8anez83u7lz/wish/322902367 https://padlet.com/lhopkins13/g8anez83u7lz/wish/322902411 *The deregulation of markets
*Political Changes
*The removal of barriers to trade
*The lowering of transportation costs
*Improved communication systems]]> 2019-01-22 10:07:21 UTC https://padlet.com/lhopkins13/g8anez83u7lz/wish/322902411 https://padlet.com/lhopkins13/g8anez83u7lz/wish/322902476 * Public relations failures
* Product failures
* Failure of equipment
* Employee error]]> 2019-01-22 10:07:40 UTC https://padlet.com/lhopkins13/g8anez83u7lz/wish/322902476 https://padlet.com/lhopkins13/g8anez83u7lz/wish/322902759 * Natual disasters
* Supply chain problems
* Economic factors
* Legal challenges]]> 2019-01-22 10:08:21 UTC https://padlet.com/lhopkins13/g8anez83u7lz/wish/322902759 https://padlet.com/lhopkins13/g8anez83u7lz/wish/322902861 - Different countries have different natural, human and capital resources. 
- Different countries employ different ways of combining these resources. 
- Encourages countries to specialise in those goods and services in which they are most efficient. 
- Some countries can produce goods at a relatively cheaper cost than others. This could be due to the availability of natural resources. 



]]> 2019-01-22 10:08:49 UTC https://padlet.com/lhopkins13/g8anez83u7lz/wish/322902861 https://padlet.com/lhopkins13/g8anez83u7lz/wish/322902945 Businesses need to take responsibility for the impactthey have on both social welfare and the environment.]]> 2019-01-22 10:09:10 UTC https://padlet.com/lhopkins13/g8anez83u7lz/wish/322902945 https://padlet.com/lhopkins13/g8anez83u7lz/wish/322902975 * Identification and analysis of risks
* Measurement of the likelhood of the risks occuring
* Assessment of potential impacts on the business
* Deciding what action can be taken to eliminate or reduce risk]]> 2019-01-22 10:09:16 UTC https://padlet.com/lhopkins13/g8anez83u7lz/wish/322902975 https://padlet.com/lhopkins13/g8anez83u7lz/wish/322902978 The single market came into existance on January 1st 1993. This market allows free trade of labour, products and services with all other countries within the EU]]> 2019-01-22 10:09:17 UTC https://padlet.com/lhopkins13/g8anez83u7lz/wish/322902978 https://padlet.com/lhopkins13/g8anez83u7lz/wish/322903201 Countries that were once regarded as third world countries are now a formidable force on the global market. Countries like India and Brazil are two examples of countries that have used their exports to greatly increase their GDP and access to international markets.]]> 2019-01-22 10:10:17 UTC https://padlet.com/lhopkins13/g8anez83u7lz/wish/322903201 https://padlet.com/lhopkins13/g8anez83u7lz/wish/322903348 * Train staff approprately
* Regular backup of IT systems 
* Put robust quality control systems in place
* Install a sprinkler system]]> 2019-01-22 10:10:52 UTC https://padlet.com/lhopkins13/g8anez83u7lz/wish/322903348 https://padlet.com/lhopkins13/g8anez83u7lz/wish/322903577 How well do we handle human rights?
Do we use suppliers who use child labour?]]> 2019-01-22 10:11:39 UTC https://padlet.com/lhopkins13/g8anez83u7lz/wish/322903577 https://padlet.com/lhopkins13/g8anez83u7lz/wish/322903922 changes in mangement style - new leaders may wish to implement new strategis which lead to a change in culture of a business. 
change in business ownrship - this type of change can cause major upheavel for a range of stakeholders. 
change in business size - businesses can gro oprganically, carefully building on product rages, investing in new technologies, developing distribution channels. 
introduction of new technology - new technology can affect both the pattern of consumer demand and methods of production. ]]> 2019-01-22 10:12:39 UTC https://padlet.com/lhopkins13/g8anez83u7lz/wish/322903922 https://padlet.com/lhopkins13/g8anez83u7lz/wish/322904217 x Costs are likely to rise
x Revenues are likely to fall
- Attract customers
- mprove Public relations]]> 2019-01-22 10:13:38 UTC https://padlet.com/lhopkins13/g8anez83u7lz/wish/322904217 https://padlet.com/lhopkins13/g8anez83u7lz/wish/322904473 A contingency plan is a plan of action to be followed in the event of an emergency or crisis.]]> 2019-01-22 10:14:27 UTC https://padlet.com/lhopkins13/g8anez83u7lz/wish/322904473 https://padlet.com/lhopkins13/g8anez83u7lz/wish/322904691 *Consumers
*Developing countries
*Developed countries]]> 2019-01-22 10:15:13 UTC https://padlet.com/lhopkins13/g8anez83u7lz/wish/322904691 https://padlet.com/lhopkins13/g8anez83u7lz/wish/322904771 * Minimises risk and limits the damage caused by a crisis
* Helps maintain staff morale
* Provides continuity of products or services]]> 2019-01-22 10:15:29 UTC https://padlet.com/lhopkins13/g8anez83u7lz/wish/322904771 https://padlet.com/lhopkins13/g8anez83u7lz/wish/322904797 - No barriers to trade between memeber states
- No taxes on imports and exports on goods and services alsong as there withing the single market
-  Free transfer of resources from one country to another, this include capital and labour.


]]> 2019-01-22 10:15:34 UTC https://padlet.com/lhopkins13/g8anez83u7lz/wish/322904797 https://padlet.com/lhopkins13/g8anez83u7lz/wish/322904808 - Company law
- Employment legislation
Health and safety
Employment rights
Anti discrimination
- Consumer protection
- Minimun wage legislation
- Competition policy
- Intellectual property law
- Data protection]]> 2019-01-22 10:15:36 UTC https://padlet.com/lhopkins13/g8anez83u7lz/wish/322904808 https://padlet.com/lhopkins13/g8anez83u7lz/wish/322904998 *Unskilled workers in Western economies
*Previously viable businesses who can no longer compete
*Workers in developing countries who are exploited
*The environment as a result of increased trade

]]> 2019-01-22 10:16:17 UTC https://padlet.com/lhopkins13/g8anez83u7lz/wish/322904998 https://padlet.com/lhopkins13/g8anez83u7lz/wish/322905146 Consumer expectations - people would now see what consumers in other countries have and may want it for themselves. 
* Efforts of the World Trade Organistaion to remove barriers to trade
* Technological changes such as internet and satellite communication systems
* The falling cost of transporting goods
* Cross-border deregulation - making trading across borders easier]]> 2019-01-22 10:16:46 UTC https://padlet.com/lhopkins13/g8anez83u7lz/wish/322905146 https://padlet.com/lhopkins13/g8anez83u7lz/wish/322905196 Taxation - direct taxation (taxation on income) and indirect taxation (taxes on spending)
Subsidies - these are payments to producers. The main sources of subsidies have been payments from the EU to farmers (Common Agricultural Policy)
Expenditure - The government buys goods and services from Uk businesses, for some businesses the government might be the only purchaser of goods. Such as road builders.]]> 2019-01-22 10:16:54 UTC https://padlet.com/lhopkins13/g8anez83u7lz/wish/322905196 https://padlet.com/lhopkins13/g8anez83u7lz/wish/322905326 * Very costly
* Large multinational business involve huge numbers of very expensive staff in assessing risk and planning what to do if things go wrong 
* If nothing goes wrong, it may be seen as a waste of money]]> 2019-01-22 10:17:24 UTC https://padlet.com/lhopkins13/g8anez83u7lz/wish/322905326 https://padlet.com/lhopkins13/g8anez83u7lz/wish/322905763 *Mergers and takeovers
Forward, backward, vertical, horizontal integration, conglomerate]]> 2019-01-22 10:18:50 UTC https://padlet.com/lhopkins13/g8anez83u7lz/wish/322905763 https://padlet.com/lhopkins13/g8anez83u7lz/wish/322905779 Restrictions:
- The Climate Change Levy
- The Landfill Tax]]> 2019-01-22 10:18:52 UTC https://padlet.com/lhopkins13/g8anez83u7lz/wish/322905779 https://padlet.com/lhopkins13/g8anez83u7lz/wish/322906187 introduction on new technology - develoopment in new technology will force businesses to change. 
labour market - the minimum wage, the loiving wage, grater employment production, increased maternity pay, etc. 
changes in economic conditions - the cyclical ]]> 2019-01-22 10:20:06 UTC https://padlet.com/lhopkins13/g8anez83u7lz/wish/322906187 https://padlet.com/lhopkins13/g8anez83u7lz/wish/322906191 - Lobbying
- Direct action
- Publicity
- Legal action]]> 2019-01-22 10:20:06 UTC https://padlet.com/lhopkins13/g8anez83u7lz/wish/322906191 https://padlet.com/lhopkins13/g8anez83u7lz/wish/322906234 2019-01-22 10:20:15 UTC https://padlet.com/lhopkins13/g8anez83u7lz/wish/322906234 https://padlet.com/lhopkins13/g8anez83u7lz/wish/322906238 2019-01-22 10:20:16 UTC https://padlet.com/lhopkins13/g8anez83u7lz/wish/322906238 https://padlet.com/lhopkins13/g8anez83u7lz/wish/322906272 Busineses that have established themselves as a global brand must continue to advertise in order to remain ahead of the market. 
Social media allows for cheap and easy global marketing]]> 2019-01-22 10:20:23 UTC https://padlet.com/lhopkins13/g8anez83u7lz/wish/322906272 https://padlet.com/lhopkins13/g8anez83u7lz/wish/322906282 Demographic change - Demographics measure the changing structure of the population
Lifestyle changes
* Society is becoming more self conscious. 

]]> 2019-01-22 10:20:25 UTC https://padlet.com/lhopkins13/g8anez83u7lz/wish/322906282 https://padlet.com/lhopkins13/g8anez83u7lz/wish/322907007 Targeting who to sell products to through market research]]> 2019-01-22 10:23:05 UTC https://padlet.com/lhopkins13/g8anez83u7lz/wish/322907007 https://padlet.com/lhopkins13/g8anez83u7lz/wish/322907141 Free trade means international trade conducted without the existance of barriers to trade, such as tarrifs and quotas.]]> 2019-01-22 10:23:30 UTC https://padlet.com/lhopkins13/g8anez83u7lz/wish/322907141 https://padlet.com/lhopkins13/g8anez83u7lz/wish/322907323 Businesses that operate globally but specialise and advertise locally. For example, region specific foods in McDonalds]]> 2019-01-22 10:24:07 UTC https://padlet.com/lhopkins13/g8anez83u7lz/wish/322907323 https://padlet.com/lhopkins13/g8anez83u7lz/wish/322907443 2019-01-22 10:24:29 UTC https://padlet.com/lhopkins13/g8anez83u7lz/wish/322907443 https://padlet.com/lhopkins13/g8anez83u7lz/wish/335296400 changes in economic conditions - The cyclical nature of the UK economy naturally cases business to react to economic circumstances. for example inflation and deflation will have effects on businesses. 
competition - Existing competitors can change their strategy, or new competitors can enter the market place. 
Change in consumer tastes - Tastes can change abruptly, completely altering demand patterns. This can happen with products such as toys, home decor and clothing. 
New legislation - Governments can change legislation both to limit business activity and alternatively to free up activity. Businesses constantly have to comply with new new legislations and adapt their products and services accordingly. ]]> 2019-02-26 11:18:28 UTC https://padlet.com/lhopkins13/g8anez83u7lz/wish/335296400 https://padlet.com/lhopkins13/g8anez83u7lz/wish/335302190 Planned change is created internally and is structured and timetables. The change is clearly palled out with objectives established, timelines created and resources applied to creating the change. A planned change could be bringing out a new product or such as a new manager coming in that has been planned and everyone aware of.

Unplanned change occurs in response to shock to the business and is often unstructured and under resources. an unplanned change could be something such as key works leaving abruptly, competitors bring a brand new product to the market or something internal such as disruption within the business such as delays of manufacturing equipment. ]]> 2019-02-26 11:40:21 UTC https://padlet.com/lhopkins13/g8anez83u7lz/wish/335302190 https://padlet.com/lhopkins13/g8anez83u7lz/wish/335304167 * shorter product life cycles 
* Diminished brand loyalty - new entrants into the market fit it easier to grab market share, existing business have to work harder to maintain sales. 
* New product need to be develop. Goods are seen as more disposable and consumers are constantly looking for better quality products. 
* Production methods will need to be changed to match changing customer demands. 
* Retraining the workforce. For businesses, existing employees may not be able to adapt to new ways of working or new technologies, so training and recruitment costs increase. 
*The need to comply with constantly changing legislation has the effect of raising costs for businesses. ]]> 2019-02-26 11:48:17 UTC https://padlet.com/lhopkins13/g8anez83u7lz/wish/335304167 https://padlet.com/lhopkins13/g8anez83u7lz/wish/335310290 managers will need to put in key strategies to encourage and manage organisational change. These being; 
*Employee preparation - the first stage will be preparing employees for change. this may involve reselling to enable employees to carry out new tasks effectively. Such training will make a workforce more flexible and adaptable, enabling them to meet the demands of change. 
* increased research and development expenditure (R&D) increased expenditure R&D is used both in preparation for change, and as a reaction to change. 
*Additional capital investment. change can create the need for investment in and new technology new equipment. Change is often expensive.]]> 2019-02-26 12:13:15 UTC https://padlet.com/lhopkins13/g8anez83u7lz/wish/335310290 https://padlet.com/lhopkins13/g8anez83u7lz/wish/335316742 1. Negotiated total package - managers and workers work together, trade unions will be very much involved and increase rewards and improve conditions are likely to be offered to the workforce. This is likely to be the most effective method of undertaking a process of change but requires a good deal of preparation and expenditure. In reality this may not always be possible in a highly competitive and difficult business environment. 
2. Negotiated piecemeal initiatives - consult and agree on a few small changes. This method may be easier to implement than a Total package pf change, but can result in difficulties because of a lack of a complete system change. 
3. Imposed piecemeal initiatives - Managers introduce changes to solve problems. This saves time and the structure of change is in the hands of management who understand the overall objectives of the business. However, the imposition of change can be met with resistance from workers who may resent the lack of consolation. 
4. Imposed total package - managers change without talking to workers. This sort of management might occur when negotiated change has failed or because of rapidly changing external factors that need responding too quickly. This change is likely to be resisted by middle managers and workers and its success depends on the skills of the senior managers in being able to establish new systems whilst minimising disruption. ]]> 2019-02-26 12:36:33 UTC https://padlet.com/lhopkins13/g8anez83u7lz/wish/335316742 https://padlet.com/lhopkins13/g8anez83u7lz/wish/335326685 * Will I be able to carry out new tasks? 
* Might I be made redundant? 
* Will I still earn as much? 
* Will I have to move to a new location? 
* Can I still work with my friends? 
* Will I have to work longer hours? 
Not addressing these questions with workers it can result in expensive failure, with employees reactions ranging from simple misunderstanding to outright sabotage and organised industrial action. To avoid resistance managers should: 
* whenever possible involve workers from the beginning 
* clearly explain the reasons for the change 
* have a clear strategy, direction and vision.

]]> 2019-02-26 13:08:14 UTC https://padlet.com/lhopkins13/g8anez83u7lz/wish/335326685 https://padlet.com/lhopkins13/g8anez83u7lz/wish/335335657 Supplier may be reluctant to adapt to changes made by their customers. ]]> 2019-02-26 13:29:28 UTC https://padlet.com/lhopkins13/g8anez83u7lz/wish/335335657 https://padlet.com/lhopkins13/g8anez83u7lz/wish/335338945 Owner may fear that change will increase risk. Shareholders may need convincing that operating in new markets will not damage their. dividends, especially as implementing change may be costly and may involve investment. Management will need to explain their plans to the shareholders carefully to convince them that sacrifice now will lead to better profit in the future. ]]> 2019-02-26 13:36:16 UTC https://padlet.com/lhopkins13/g8anez83u7lz/wish/335338945 https://padlet.com/lhopkins13/g8anez83u7lz/wish/335340595 1. Unfreezing 
2. Change or transition 
3. Refreezing

unfreezing - This involves creating a motivation for change. Creating a realisation amongst employees that change is necessary. They therefore have to 'unfreeze' from current approaches to work and be prepared to adapt to a new method of working. 

Change or Transition - Lewin descirbed the period of transition as a potentially difficult time as workers are now moving forward a new way of doing things. They learning about the changes and need to be given time to understand and adapt to these changes. Support from management and supervisors is important in making the transition period work. Support can come in the form of training, education, and learning. from, and not being criticised for. mistakes. 

Refreezing - This final stage in the change. process is about establishing stability once the changes have been made. Workers have not accepted the change, and the methods of working have become. the new norm. Workers are settled in new structures, methods of communication and are comfortable with their routines.


]]> 2019-02-26 13:39:32 UTC https://padlet.com/lhopkins13/g8anez83u7lz/wish/335340595 https://padlet.com/lhopkins13/g8anez83u7lz/wish/335349414 when introducing a programme of change, there will inevitably be some degree of resistance - how great the resistance is will depend upon how entrenched the attitudes of the employees are, and how willing they are to adapt their working practices to meet the new organisational objectives. 
culture change must begin at the top of an organisation. ]]> 2019-02-26 13:55:18 UTC https://padlet.com/lhopkins13/g8anez83u7lz/wish/335349414 https://padlet.com/lhopkins13/g8anez83u7lz/wish/335362359 to evaluate the change the business would have to examine a number of performance indicators in order to establish if its objectives have been achieved. There are a whole range of both quantitive and qualitative Indicators that can be examined and these will obviously be related to the objectives initially set prior to the changes that have occurred. possible indicators may include: 
*Delivery times 
*Product defects 
*Customer satisfaction surveys 
*Market share 
*Sales turnover 
*Profit ]]> 2019-02-26 14:15:14 UTC https://padlet.com/lhopkins13/g8anez83u7lz/wish/335362359