Corporate Influences

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focus on immediate goals like cost-cutting and boosting share prices.

Cost-cutting is an example of a long-termist approach in business.

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False

What does a short-termist approach focus on?

intermediate goals and objectives
long-term goals and objectives
immediate goals and objectives
future aspirations and objectives

A short-termist approach in business focuses on long-term gains.

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False

Investing in research and development is a characteristic of a long-termist approach in business.

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False

Quick decisions in response to a fast-changing environment always require evidence-based decision making.

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False

Evidence-based decision making involves using scientific forecasts and techniques.

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False

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prioritize research and development, brand loyalty, and sustainability.

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Evidence-based decision making is preferable for consistent and justified decisions, but may be more appropriate in fast-changing environments.

Subjective decision making in business may rely on scientific forecasts and techniques, while evidence-based decision making is preferred for its consistency and justifiability.

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False

Evidence-based decision making in corporate settings relies on intuition and hunches, leading to more consistent and justifiable decisions compared to subjective decision making based on scientific forecasts and techniques.

True

False

Why is evidence-based decision making preferred over subjective decision making in corporate settings?

It relies on personal opinions and emotions for decision making.
It is time-consuming and inefficient in the decision-making process.
It leads to biased outcomes and arbitrary decisions.
It provides consistent results and justifications for decisions made.

How does a short-termist approach differ from a long-termist approach in business decision-making?

Short-termist focuses on immediate gains, while long-termist focuses on future benefits.
Short-termist approach is more cost-effective than long-termist approach.
Short-termist approach is more sustainable than long-termist approach.
Long-termist approach is only concerned with short-term gains.

Corporate timescales are where business performance is judged, and a short-termist approach often involves investing in research and development for immediate profits.

True

False

Why is it important for businesses to find a balance between short-termism and long-termism?

To ignore long-term goals and only prioritize immediate results.
To ensure sustainability and achieve long-term objectives effectively.
To maximize profits in the short term.
To focus solely on short-term gains.

A short-termist approach in business may involve overworking staff to maximize productivity, whereas a long-termist approach focuses on investing in research and development for innovation.

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False