Influences on Business Decisions (Edexcel A-Level Business): Flashcards

Important, wide-ranging decisions with lasting impacts

Far-reaching, long-term impacts, difficult to reverse

Making decisions focused on immediate results and quick profits

Decisions prioritizing sustainable growth and future success

Relies on personal judgement and intuition rather than hard data

Higher risk but faster

Collecting data and making choices based on factual evidence

Shared values, beliefs, and behaviours within an organisation

Shareholder views influence decisions, other stakeholders overlooked

Wide range of stakeholder views and needs considered in decisions