Adapting to the Challenges in the Business Environments (Grade 11 NSC Matric Business Studies): Flashcards
📚Flashcards
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10 cards from this deck
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Practise the cards
10 cards from this deck
Lobbying
Lobbying
Businesses working together to change govt decisions/policies
Main purpose of lobbying
Main purpose of lobbying
Shape laws & govt decisions to suit business needs
Hedging
Hedging
Strategy to protect from inflation; like insurance for money
Bargaining sessions
Bargaining sessions
Meetings between managers & unions to negotiate solutions
Networking
Networking
Business people meet to share info, ideas & build relationships
Main goal of networking
Main goal of networking
Meet relevant people & make meaningful connections
Formal networking example
Formal networking example
Joining chambers of commerce or industry associations
Networking advantages
Networking advantages
New customers, fresh ideas, business relationships
Power relationships
Power relationships
How much control a business has over its environment & others
Strategic alliances purpose
Strategic alliances purpose
Partnerships to help each other grow & share skills/resources