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QLDBusiness StudiesQuick questions
Unit 4: Business evolution
Quick questions on Transformation, innovation and risk management (QCE Business Unit 4)
15short Q&A pairs drawn directly from our worked dot-point answer. For full context and worked exam questions, read the parent dot-point page.
What is business transformation?Show answer
Transformation is a major, often multi-year, change to a business's operations, capability, business model or market position. Transformation goes deeper than incremental change; it usually involves restructuring, technology investment, cultural change and the redesign of core processes.
What is innovation?Show answer
Innovation is the creation of value through new products, processes or business models.
What is risk management during transformation?Show answer
Risk is the chance of something happening that affects business objectives. Transformations are particularly risky because they involve simultaneous change across multiple dimensions.
What is cSR in transformation decisions?Show answer
Transformation decisions affect stakeholders beyond shareholders. CSR considerations include:
What is worked Australian example?Show answer
Transformation. Multi-year strategic reset (2022-2025) under CEO Vicki Brady. Components include InfraCo separation, product simplification, digital channel rebuild, cost-out, and workforce restructure (2,800 redundancies announced 2024).
What is incremental innovation?Show answer
Small, continuous improvements to existing products or processes. Builds on the existing business model. Low risk, predictable returns.
What is disruptive innovation?Show answer
A new product, process or business model that significantly changes how value is delivered. Often opens new markets or fundamentally alters existing ones. Higher risk, potentially much higher returns.
What is product innovation?Show answer
New or significantly improved products. Cochlear's new implant generations are product innovation.
What is process innovation?Show answer
New or significantly improved ways of producing or delivering products. Coles's automated distribution centres are process innovation that supports the existing product range.
What is transformation?Show answer
Multi-year strategic reset (2022-2025) under CEO Vicki Brady. Components include InfraCo separation, product simplification, digital channel rebuild, cost-out, and workforce restructure (2,800 redundancies announced 2024).
What is risk management?Show answer
Significant risk profile - workforce disruption, customer-experience disruption during migrations, regulator scrutiny, share-price impact. Risk treatments include phased rollout, dual-running, customer-communication, structured consultation with the CEPU union, and continuous board reporting.
What is cSR?Show answer
Workforce redundancy managed with extended notice, retraining options and outplacement support. Community impact in regional Australia (where Telstra is a major employer) managed through targeted communication.
What is progress?Show answer
Approximately on track midway through, with key customer-experience and platform-migration milestones remaining.
What is plan?Show answer
Cover the transformation strategy, the innovation type, the risk-management approach and the CSR considerations.
What is treating risk management as a one-off?Show answer
The four-step process is continuous - new risks emerge, existing risks change.