corporate culture

Question 1

what is evidence-based decision-making?

Answer 1

• decisions based on evidence and data which is valid and trusted
• uses processes like decision trees and sales forecasting data

Question 2

what is subjective decision-making?

Answer 2

• decisions that are based on personal perspectives, gut feeling
• more entrepreneurial focus
• higher risk
• harder to justify

Question 3

characteristics of a strong culture

Answer 3

• good communication with employee
• focus on core values
• low staff turnover
• culture is based on history and tradition

Question 4

characteristics of weak culture

Answer 4

• lead to business failure
• demotivated workforce
• inconsistent customer service
• poorly management
• bureaucratic
• lack the flexibility to respond to dynamic markets

Question 5

why is business culture changed?

Answer 5

• declining profits/sales
• low customer service/product development
• loss of market share
• staff turnover/disputes
• inconsistent leadership
• respond to external influences