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Flashcards in 3.4 Deck (9)
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1
Q

asset stripping

A

the practice of buying businesses and breaking them up

the profitable parts are sold for cash and the rest are closed down

2
Q

evidence-based decision making

A

an approach to decision making that involves gathering information, using a systematic and rational approach to reach a conclusion

3
Q

long term

A

the time period where decisions have an impact on the vision, mission and objectives of a business - typically longer than 5 years

4
Q

short term

A

the time period where decisions have an impact on operational activities of a business - typically less than 5 years long

5
Q

strategic decions

A

decisions concerning policy that can have long term impact on a business - can be risky

6
Q

subjective decision making

A

an approach to decision making where the personal opinions of the key decision-maker strongly influence the course of action chosen

7
Q

cultural dimensions

A

a set of characteristics that form the international context of business culture

8
Q

organisational/corporate/business culture

A

the values, attitudes, beliefs, meanings and norms that are shared by individuals and groups within an organisation that determine how a company’s employees and management interact and handle outside and inside business transactions

9
Q

strong culture

A

a culture where values, beliefs and ways of working are deeply embedded within the business and its employees