VCE Business Management Question Thread!

[GuZz]

Hi guys,

How do we apply the Learning Organisation to the process of change?

Thanks!!

Here is a rough response covering the 5 principles. I found it quite challenging trying to link each principle back to change, but I hope I gave a decent overview.

Senge states that in order for a business to be deemed a learning organisation it must facilitate the learning of its members, whilst continuously transforming itself. This can be achieved by fostering an environment that is flexible and adaptive to change.

Systems thinking is the ability to see the big picture rather then things in isolation. As such, the business will be able to observe the overall impact that change will have on the business. If for example a business wishes to address the KPI of net profit figures and attempts to achieve this by cutting costs, systems thinking will allow the organisation to understand this may negatively impact quality, resulting in lower customer satisfaction and the possibility of a reduction in net profit.

Personal mastery is where the people within the business undergo continual learning. By continually working towards a personal vision, a business will be able to better cater to the passions and learning of its employees. A business can achieve this principle by offering training programs and challenging the status quo, doing so will better prepare employees for the challenges that change may present.

Mental models are the deeply ingrained assumptions, generalisations and images of how people see the world. By developing a better understanding of who they are and their impact on the business, employees will be better equipped to scrutinise their behaviours. This will allow for a business to establish more effective plans for change and continually improve changes that are being implemented.

Building shared vision is being able to develop a vision that the people within the business believe in. A business that can build a shared vision can create a culture of 'commitment over compliance', ensuring that employees are on the same page subsequently creating long term drive. This approach encourages experimentation and innovation, both of which are vital to strong and successful change.

Team learning is the process of aligning and developing the capabilities of a team to create the results its members truly desire. This principle builds on the concept of personal mastery, but instead focuses on the relationships of members in a team. It is expected that members will work and learn together, strengthening both their relationships and knowledge. If teams can work together more effectively, change and growth will occur more faster, more frequently and more successfully.

[ataroo]

Hi all,
Could someone please provide a sample response to this ten mark question I'm having difficulty on. Most notably I don't understand the "discuss" part as I can't see how you're supposed to list the strengths and weaknesses of being ethical and socially responsible in this case.

Outline four strategies that can be adopted in operations management. Discuss how the ethical and socially responsible management of an operations system applies to each of the four strategies.

Many Thanks! 

[kevinhuynhh]

Hi all,
In terms of termination management strategies, what some examples of entitlement and transition issues. My textbook doesn't really mention it and it isn't really clear on the study design.

Thanks in advance ))

[ataroo]

Hi all,
In terms of termination management strategies, what some examples of entitlement and transition issues. My textbook doesn't really mention it and it isn't really clear on the study design.

Thanks in advance ))

entitlement issues could include accrued entitlements such as annual leave and long service leave along with superannuation. Transition issues are like counselling, financially advice services, training etc

[ataroo]

does anyone know if a private listed company is put on the ASX as well?

[kevinhuynhh]

does anyone know if a private listed company is put on the ASX as well?

Not for a private listed company because its shares are limited to 2-50 shareholders and are private shareholders. The general public can only purchase shares if the company is listed on ASX.

[ataroo]

Not for a private listed company because its shares are limited to 2-50 shareholders and are private shareholders. The general public can only purchase shares if the company is listed on ASX.

cheers

[ataroo]

would anyone know how to answer this 10 marker. Stuck again.. Don't understand the "evaluate business practice against theory" bit.

Using a contemporary business case study from the past four years, evaluate business practice against theory, considering how corporate social responsibility can be incorporated into the change process.

thanks

[QueenSmarty]

Ataroo, my teacher said that question is not part of the study design and will not be assessed..

Which company's past exams are most similar to VCAA exams?

[pingupongu]

What case study are you guys applying to Senge’s model? 🙂

[ely0004]

Do we actually need to know our own case studies? If so how many and what for? Our teacher hasn't mentioned it being on the exam 

[GuZz]

Do we actually need to know our own case studies? If so how many and what for? Our teacher hasn't mentioned it being on the exam 

There is the possibility of a question or questions, asking for theory to be applied to a contemporary case study. This requires you to apply the question to a business example from within the last 4 years.

For example, I am doing Foxtel (for business change) and Yakult (operations management)

[snoz11]

Ataroo, my teacher said that question is not part of the study design and will not be assessed..

Which company's past exams are most similar to VCAA exams?

not that many out there seemed to be real crash hot, obviously the VCAA sample exam but other than that I found nothing else really to be much similar to that

[reganconnor16]

In the sample exam, how would question 2 be answered?
It asks "Explain how following a change model can assist a business with implementing a change successfully."

[GuZz]

In the sample exam, how would question 2 be answered?
It asks "Explain how following a change model can assist a business with implementing a change successfully."

I would probably make reference to Lewin's three step change model? Explaining how it acts to reduce the influence of restraining forces, whilst maximising the forces driving towards business change. It also allows a business to challenge the status quo and overtime, ingrain changes to be apart of the businesses new status quo. Furthermore, it provides an opportunity for the business to provide continual support for stakeholders (i.e managers/employees) that may be finding the change challenging.