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unit3
influences on business when making decisions
Long termism
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Cards (4)
definition of long termism ?
Focuses
on achieving
sustained
growth and
success
over an
extended
period
Characteristics of long termism?
Emphasis
on building
strong
foundations for
future
growth such as
employee
training and
sustainable
practices
Decisions
are made with a
view
towards
long
term
benefits
rather than immediate
gains
Advantages of long termism?
Can
lead
to sustained
growth
and a
strong
market
position
Helps
build
brand
loyalty
and
employee
satisfaction
Disadvantages of long termism?
May involve
significant
upfront
costs
with
delayed
returns
Can be
challenging
to maintain , especially in a
market
that
demands
quick
results