3.4.1 corporate influences

Question 1

define corporate timescales

Answer 1

refer to a strategy and the expectation of when a return on investment will be achieved

Question 2

define short-termism

Answer 2

a quick financial reward.
e.g. monthly profit, weekly sales

Question 3

define long-termism

Answer 3

a whole business approach.
considers ethical behaviour of the business in decision making.
research and development have long term goals.

Question 4

evidence based decision making

Answer 4

decisions relating to the business are based on evidence and data which is valid and trusted information

Question 5

subjective based decision making

Answer 5

decisions relating to a business which are based on personal perspectives, feelings and opinions