TechStyle Co. is a clothing manufacturer based in Melbourne. Recent key performance indicators (KPIs) show a decline in overall productivity and an increase in staff absenteeism. Management has identified outdated equipment and a lack of employee engagement as contributing factors.
a. Outline one management strategy TechStyle Co. could implement to address the decline in overall productivity.
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Create Free Account Log inThis is a free VCE Units 3 & 4 Business Management practice question worth 2 marks, testing your understanding of Management strategies for change. It falls under Implementing change in Unit 4: Transforming a business. Submit your answer above to receive instant AI-powered marking and personalised feedback.
Businesses are under constant pressure to adapt and change to meet their objectives. In this unit students consider the importance of reviewing key performance indicators to determine current performance and the strategic management necessary to position a business for the future. Students study a theoretical model to undertake change and consider a variety of strategies to manage change in the most efficient and effective way to improve business performance. They investigate the importance of effective management and leadership in change management. Using one or more contemporary business case studies from the past four years, students evaluate business practice against theory.
In this area of study students explore how businesses respond to evaluation data. It is important for managers to know where they want a business to be positioned for the future before implementing a variety of strategies to bring about the desired change. Students consider the importance of leadership in change management and discuss and evaluate effective strategies for managing change. Students consider how leaders can inspire change and the effect change can have on stakeholders of a business. They consider the principles of Senge’s Learning Organisation and apply the Three-step Change Model (Lewin) in implementing change in a business. Using one or more contemporary business case studies from the past four years, students evaluate business practice against theory, considering how corporate social responsibility can be incorporated into the change process.
management strategies to respond to key performance indicators and/or seek new business opportunities, including staff training, staff motivation, change in management styles or management skills, increased investment in technology, improving quality in production, cost cutting, initiating lean production techniques, redeployment of resources (natural, labour and capital), innovation, global sourcing of inputs, overseas manufacture and global outsourcing
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State *three* management strategies a business could implement to improve productivity.
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