Organizational culture
This term describes the shared values, attitudes, and beliefs that shape a company’s environment.
What is corporate culture?
2 types of communication
Formal & Informal
A legally recognized organization that represents workers and negotiates with employers is called this.
What is a trade union?
Also known as investment, is the type of expenditure that companies do to invest in fixed assets (long-term investments)
The total amount of money a business earns from selling goods or services is called this.
What is revenue?
Total sales
A company that values teamwork, collaboration, and shared decision-making is most likely to have this type of culture. (type - Handy)
What is a task culture?
Methods of formal communication included in Kognity
spoken
written
electronic
When employees deliberately work slower than usual as a form of protest, it is called this type of industrial action.
What is a go-slow?
This type of finance comes from the business's own profits rather than external sources.
What is retained profit?
This type of cost remains constant regardless of the level of production or sales.
What is a fixed cost?
This is about the degree of tolerance that members of society have towards risk and ambiguity (Hofstede's dimension)
What is uncertainty avoidance?
This type of vertical business communication is directed from employees to management.
What is bottom-up communication?
A refusal by employers to allow employees to enter the workplace during a dispute is called this.
What is a lockout?
A startup company with high growth potential is likely to attract this type of investor who provides capital in exchange for ownership.
What is a venture capitalist or business angel?
If a business sells a product for $20 and the variable cost per unit is $10, the contribution per unit is this amount.
What is $10?
Mention 3 circumstances that can lead to cultural clashes
Internal growth
External growth: M&A, Joint venture
Change in leadership
Multinational expansion
Mention 3 types of communication barries
Cultural
Linguistic
Emotional
Psychological
Physical
Organizational
Attitudes and personality
Technological
Perception
Communication skills
Form of communication
Is when employees work together with management to negotiate wages and working conditions.
Collective bargaining
A short-term loan that allows a business to withdraw more money than it has in its account is called this
What is an overdraft?
A company reaches this point when total revenue equals total costs, resulting in neither profit nor loss.
What is the break-even point?
Mention 2 key elements of an organizational culture (Kognity)
Vision, mission and values of the organisation
Practices
History and narrative
People
Mention 2 indirect strategies to overcome communication barriers
Recruitment
Change appraisal methods
induction and training
Simplify organizational structure
When an employer and employees fail to agree on labor disputes, they may seek resolution through this process, where a neutral third party makes a binding decision.
What is arbitration?
A company issuing additional shares to raise finance is using this source of finance.
What is equity financing?
A business that earns $10,000 in revenue, has $6,000 in variable costs, and $3,000 in fixed costs will make this amount of profit.
$1,000