Podcast
Play an AI-generated podcast conversation about this lesson
Download our mobile app to listen on the go
Get App
Questions and Answers
What are some factors that drive change in organizations?
What are some factors that drive change in organizations?
- Employee salaries and benefits
- Market competition and customer needs (correct)
- Employee social events and team-building activities
- Office location and furniture design
Why is change necessary for organizations?
Why is change necessary for organizations?
- To save money on expenses
- To stay the same and not take risks
- To meet the changing needs of customers, employees, and stakeholders (correct)
- To make employees work harder
What can disrupt traditional business models?
What can disrupt traditional business models?
- Advertising campaigns and marketing strategies
- Customer feedback and surveys
- Employee promotions and bonuses
- New technologies or competitors (correct)
Flashcards are hidden until you start studying
Study Notes
- Change refers to a transition, evolution, adaptation, development, shift, transformation, alteration, or variation in something.
- Change is necessary for organizations to stay competitive and meet the changing needs of customers, employees, and stakeholders.
- Market dynamics, customer needs, employee expectations, technological advancements, and regulatory changes are factors that drive change in organizations.
- New technologies or competitors can disrupt traditional business models.
- Customers may want new products, better service, or more convenient delivery options.
- Employees may want more flexibility, a better work-life balance, or more opportunities for professional development.
- Technological advancements can revolutionize industries and change the way businesses operate.
- Changes in laws and regulations can impact the way that companies operate.
- Organizations must continually adapt to stay competitive.
- Change is a constant in today's rapidly evolving business landscape.
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
