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VICBusiness Management

Unit 4: Transforming a business

2 dot points across 2 inquiry questions. Click any dot point for a focused answer with worked past exam questions where available.

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?

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 →