Unit 4: Transforming a business

8 dot points across 8 inquiry questions. Click any dot point for a focused answer with worked past exam questions where available.

Area of Study 2: How do managers communicate effectively with employees and stakeholders during change?

Communication during change - the role and purpose of communication, the audiences (employees, customers, suppliers, shareholders, community, regulators), the channels (town-halls, internal newsletters, intranet, direct manager briefings, media releases, customer notices), and the principles of effective change communication

A focused answer to the VCE Business Management Unit 4 AoS 2 dot point on communication during change. The role and purpose of communication, the audiences, the channels available to managers, the principles of effective change communication, and how communication failures damage change outcomes, with worked Australian examples from Telstra, Qantas and Atlassian.

10 min answer →

Area of Study 2: How does change affect stakeholders, and what is the role of corporate social responsibility?

The effect of change on stakeholders of a business - including owners, managers, employees, customers, suppliers and the community - and corporate social responsibility considerations when reviewing performance and implementing change

A focused answer to the VCE Business Management Unit 4 AoS 2 dot point on the human and ethical dimension of change. How change affects each stakeholder group (owners, managers, employees, customers, suppliers, community), what corporate social responsibility means in the change context, and how managers implement change responsibly.

9 min answer →

Area of Study 1: What forces drive and restrain change in a business?

Forces for change - driving forces (owners, managers, employees, customers, competitors, suppliers, technology, globalisation, innovation, legislation, societal attitudes, pursuit of profit, reduction of costs) and restraining forces (managers, employees, time, organisational inertia, financial considerations, legislation) - and proactive versus reactive approaches to change

A focused answer to the VCE Business Management Unit 4 AoS 1 dot point on the forces for change. The named driving forces (owners, managers, employees, customers, competitors, suppliers, technology, globalisation, innovation, legislation, societal attitudes), the restraining forces, internal versus external sources, and proactive versus reactive approaches.

9 min answer →

Area of Study 1: How do managers identify the need for change?

Key performance indicators - percentage of market share, net profit figures, rate of productivity growth, number of sales, rates of staff absenteeism, level of staff turnover, level of wastage, number of customer complaints, number of workplace accidents - and their interpretation; Lewin's force field analysis of driving and restraining forces of change

A focused answer to the VCE Business Management Unit 4 AoS 1 dot point on KPIs and the need for change. The nine VCAA-named KPIs and their interpretation, Lewin's force field analysis of driving and restraining forces, with worked Australian examples from Telstra's T25 strategy and Coles's automated DC transformation.

9 min answer →

Area of Study 2: How is change implemented in a business using a structured change model?

Lewin's three-step change model - unfreeze, change (transition), refreeze - as a framework for managing a planned organisational change, and the management actions appropriate at each stage

A focused answer to the VCE Business Management Unit 4 AoS 2 dot point on Lewin's three-step change model. The unfreeze, change and refreeze stages, the management actions appropriate at each stage, and how the model complements Lewin's force field analysis, with worked Australian examples from ANZ, Telstra and Coles.

10 min answer →

Area of Study 2: Should managers use low-risk or high-risk strategies to implement change?

Low-risk and high-risk strategies for implementing change - the tactics, the contexts in which each is appropriate, and the costs and benefits of each, including manipulation and threat as high-risk strategies

A focused answer to the VCE Business Management Unit 4 AoS 2 dot point on low-risk and high-risk change strategies. The tactics of each, the appropriate-use contexts, the costs and benefits, the ethical considerations around manipulation and threat, and how to combine the approaches, with worked Australian examples from Coles, Qantas and ANZ.

10 min answer →

Area of Study 1: How do managers position a business for the future?

Porter's generic strategies - lower cost and differentiation - as approaches to strategic management, and their use in positioning a business to respond to driving forces for change

A focused answer to the VCE Business Management Unit 4 AoS 1 dot point on Porter's generic strategies. Porter's two approaches to strategic management - lower cost and differentiation - how each positions a business to respond to driving forces for change, the danger of being stuck in the middle, and how the strategies link to operations and change, with worked Australian examples.

8 min answer →

Area of Study 2: How is change implemented in a business?

Senge's learning organisation - personal mastery, mental models, shared vision, team learning, systems thinking; low-risk and high-risk strategies for implementing change; leadership during change; the importance of leadership styles and management skills in implementing change

A focused answer to the VCE Business Management Unit 4 AoS 2 dot point on Senge's learning organisation and change strategies. The five disciplines, low-risk vs high-risk change strategies (Kotter-style consultation v aggressive restructure), and the role of leadership style in change, with worked examples from Atlassian, Qantas and ANZ.

9 min answer →