City investors measured every 3 months, short-term focused performance measures, threat of a takeover, bosses more interested in the numbers
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What are the effects of short-terminism?
Underestimating or ignoring opportunities, reluctance to invest, making decisions that are smart short-term (but not long-term), encourages staff to achieve profits today at the expense of tomorrow
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What is evidence-based decision-making?
Tries to take the art of decision making, replacing subjectivity with facts and quantitative facts
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How can the staff portay a strong culture?
An attitude of 'can-do', conviction that the organisation is a force for good
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What are power cultures?
Found in organisations in which there is one or a small group of power holders
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What are role cultures?
Found in established organisations that have developed a lot of formal rules
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What are task cultures?
Have no single power source. Projects allocated to teams made up of representatives from different functional departments
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What are person cultures?
Individuals with similar training and backgrounds are encouraged to form groups to enhance their expertise and share knowledge
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How is corportate culture formed?
leadership style, type of ownership, recruitment policies
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What are the difficulties in changing cultures?
Staff who have been working there will need to be convinced the change is for good
What does trade-offs between profit and ethics mean?
The idea that to be ethical profits may have to suffer
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What must owners do when considering pay and rewards?
That staff feel an element of fairness in the payment
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What are the reasons for Corporate Social Responsibility?
Marketing advantages, positive effects on the workforce
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What are the reasons against Corporate Social Responsibility?
Reduced profitability, reduced growth prospects, rejection of CSR as a tool of public relations, rejection of CSR as a distraction from a truly moral purpose
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Other cards in this set
Card 2
Front
What are the effects of short-terminism?
Back
Underestimating or ignoring opportunities, reluctance to invest, making decisions that are smart short-term (but not long-term), encourages staff to achieve profits today at the expense of tomorrow
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