Refers to the general culture within an organisation and includes leadership styles, methods of motivation, the working environment and the recruitment process.
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Why might business culture need changing?
Improve business performance, Respond to a significant external change (political, economical or in the market).
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Barriers to Culture Change
Loyalty, Insecurity, Prefers how it was, Different ambitions, Fear of the unknown: could mean loss of power, skill, income and the splitting up of work teams.
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Evidenced Based Decision Making
Involves gathering information and using investment appraisals to reach an appropriate conclusion.
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Subjective Decision Making
Based on the views of key individuals in the business, these decisions generally carry more risks.
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Model of Evidenced Based Decision Making
Setting objectives, Gathering data, Analysing data, Making decision, Implementing decision, Monitoring and evaluating the decision.
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Short-Termism
The time period where decisions only have an impact on the operations of the business (usually less than five years).
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Short-Termism Courses of Action
External Growth, Asset ********* (buying businesses and selling profitable parts of them), Maximise profits, Less investment on R and D and training.
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Drawbacks of Short-Termism
Long-term profitability might be threatened, Competitive edge lost, Time consuming, Over-reliance on short term contracts may not be appropriate.
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Strong Culture
Where the values, beliefs and ways of working are deeply embedded within the business.
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Weak Culture
Can arise when the core values are not clearly defined or embedded within a business.
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Power Culture
Where there is a central source of power responsible for decision making.
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Role Culture
Where decisions are made through well-established rules and procedures.
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Task Culture
Power is given to those who can accomplish tasks requiring certain skills.
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Person Culture
A number of individuals in the business who have similar skill sets but do not necessarily work together, e.g. architects.
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How complex and dynamic are the four cultures?
Power= Highly dynamic, Low complexity. Task= Highly dynamic, Highly complex. Person= Not very dynamic, Highly complex. Role= Not very dynamic or complex.
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Internal Stakeholders
Employees, Managers, Owners and Shareholders.
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External Stakeholders
Competitors, General Public, Government, Customers, Suppliers and Pressure Groups.
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Other cards in this set
Card 2
Front
Improve business performance, Respond to a significant external change (political, economical or in the market).
Back
Why might business culture need changing?
Card 3
Front
Loyalty, Insecurity, Prefers how it was, Different ambitions, Fear of the unknown: could mean loss of power, skill, income and the splitting up of work teams.
Back
Card 4
Front
Involves gathering information and using investment appraisals to reach an appropriate conclusion.
Back
Card 5
Front
Based on the views of key individuals in the business, these decisions generally carry more risks.
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