3.4.1 Corporate Influence

Question 1

What are Corporate timescales?

Answer 1

Corporate timescales refers to strategy and the expectation of when a return will be achieved

Question 2

Reasons for Short Termism

Answer 2

• Short-termism means that a business is only interested in a quick financial reward
• Short-termism is choosing a course of action which is best in the short term, but may be critical in the long-term
• Short-termism makes businesses fail to innovate and stagnate

Question 3

What is Long Termism

Answer 3

• Long-termism is a whole business approach
• Incorporates CSR (Corporate Social Responsibility- companies integrate social and environmental concerns in their business operations and interactions with their stakeholders instead of only considering economic profits.)
• Considers ethical behaviour of the
business in decision making
• Research and development have long term goals
• Staff development is seen a long term objective of the business, to retain and develop staff
• Long-term technology investments secure data for the future