Influences 3.4

Front

Evidence based decision making

Back

An approach to decision making that involves gathering information and using a systematic and rational approach to reach a conclusion.

Front

Long-termism

Back

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

Front

Short-termism

Back

Where business and managers are focused on quick financial rewards, such as quarterly profit or sales figures, often at the expense of investment in important areas.

Front

Subjective decision making

Back

A more holistic approach to business strategy, incorporating aspects such as CSR and ethical behaviour.

Front

Corporate culture

Back

An unwritten code of conduct within a business organisation that reflects its values and embodies the shared beliefs and assumptions that underpin the decision-making processes.

Front

Culture

Back

Shared attitudes, values, customs and expectations.

Front

Person culture

Back

Where there are a number of individuals in the business who have expertise, but they don’t necessarily work together.

Front

Power culture

Back

Where there is a central source of power responsible for decision making.

Front

Role culture

Back

Decisions are made through well established rules and procedures.

Front

Strong culture

Back

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