principles of business and administration nvq level 2
Unit four: Principles of supporting change in a business environment
Assessment
Name: Philip Bickerton
Section 1 – Understand why change happens in a business environment
1. Explain why change happens in a business environment. You should include at least three reasons in your answer. For any business to be successful it must be willing to make changes to best provide the services that are required whilst at the same time being profitable, Businesses must constantly evolve and improve both their produce and manufacturing procedures in order to stay competitive in the global marketplace. Management and employees alike must learn to adapt and respond to changes and new challenges.
There are two main causes that will make a business make changes, reactive factor and proactive factors.
Reactive factor are when external changes occur such as – Political reasons like a new law/legislation has been passed by government and this could have a direct effect on your business.
Economic factors also will play a major role in making changes to the business; these could be anything from consumers buying trends and economic performance to government tax increases, international exchange rates and interest rate fluctuations.
Social awareness is vital when it comes to making business changes as this will massively influence any changes that you put into place, if not researched properly and managed effectively you could make huge mistakes when it comes to advertising and public relations. By monitoring consumers buying preferences and competitors behaviour you will be able to make any changes with the knowledge that they will be relevant.
New technology will help a business to be more efficient and competitive and by having the latest/newest technology, that could be what make you stand out over your rivals; you must constantly research new technology because all technology has a life cycle and by being contempt with what you currently have could lead to you
Assessment
Name: Philip Bickerton
Section 1 – Understand why change happens in a business environment
1. Explain why change happens in a business environment. You should include at least three reasons in your answer. For any business to be successful it must be willing to make changes to best provide the services that are required whilst at the same time being profitable, Businesses must constantly evolve and improve both their produce and manufacturing procedures in order to stay competitive in the global marketplace. Management and employees alike must learn to adapt and respond to changes and new challenges.
There are two main causes that will make a business make changes, reactive factor and proactive factors.
Reactive factor are when external changes occur such as – Political reasons like a new law/legislation has been passed by government and this could have a direct effect on your business.
Economic factors also will play a major role in making changes to the business; these could be anything from consumers buying trends and economic performance to government tax increases, international exchange rates and interest rate fluctuations.
Social awareness is vital when it comes to making business changes as this will massively influence any changes that you put into place, if not researched properly and managed effectively you could make huge mistakes when it comes to advertising and public relations. By monitoring consumers buying preferences and competitors behaviour you will be able to make any changes with the knowledge that they will be relevant.
New technology will help a business to be more efficient and competitive and by having the latest/newest technology, that could be what make you stand out over your rivals; you must constantly research new technology because all technology has a life cycle and by being contempt with what you currently have could lead to you