Drivers for change
Taught by Ben Wilson · AI tutor support included
In this lesson, you'll learn how to identify and prioritise change drivers that could impact your business strategy. As a senior leader, understanding where your market is heading is crucial—but it's complex, and there's no single right answer.
This lesson is part of a paid course
Buy the course to unlock every video lesson and the AI Tutor, plus mock exams with feedback on CIMA courses.
Already bought? Sign in
Ask the AI tutor anything about this lesson
It knows every lesson in the course — explanations, clarifications, practice questions.
In this lesson
- 0:00 Introduction to drivers of change
- 0:44 Tools for identifying change drivers
- 1:17 PESTEL, Porter's Five Forces and SWOT explained
- 2:33 Risk registers and external consultants
- 3:42 Urgency and strategic importance matrix
- 4:33 Prioritising risks by strategic impact
- 5:10 Managing lower priority and contingent risks
- 6:45 Yoga Online case study analysis
- 8:32 Applying the framework to business scenarios
About this lesson
You'll explore multiple frameworks for spotting change drivers, including PESTEL analysis, Porter's Five Forces, SWOT analysis, risk reviews, and external consultancy. The core skill here is using an urgency and strategic importance matrix to categorise risks and decide how to respond: develop immediate strategies for high-priority drivers, prepare contingent plans for emerging threats, and monitor lower-priority issues. You'll work through a practical example with Yoga Online Co to apply the framework and see how different change drivers—from economic downturns to shifting customer tastes—warrant different strategic responses. This is essential preparation for the Strategic Business Leader case study and strategic management modules, where you'll need to demonstrate strategic thinking and the ability to anticipate and respond to business change.
Duration: 12m
Transcript
Every lesson comes with a full searchable transcript - included with the course.
Get the E3 Objective Test course
All 107 video lessons, timed mock exams marked instantly with an explanation for every question, an AI Tutor in every lesson and lifetime access.
Already bought? Sign in