CUEGIS definitons Flashcards
definition of “change”
The driving and restraining on a business forcing them to adapt so they can move forward and remain competitive. The ability to respond to signals from the internal and external environment.
definition of “culture”
Refers to the norms of an organization or collective group of individuals. This shapes the values, beliefs and customs of people.
definition of “ethics”
Ethics refers to the moral principles and values that form how a business is ran. It is collective belief on what is right and wrong. It is NOT the same as legality.
definition of “globalization”
The process by which the world is become increasingly interconnected through massively increased trade and cultural exchange.
definition of “innovation”
Refers to changing or creating more effective processes or products. Increasing the efficiency can result in the business meeting the customers wants and needs in a more profitable way, increasing the likelihood of the business surviving.
definition of “strategy”
Creating plans to achieve organisational goals in the long term.
