Corporate Influences

• Corporate timescales: short-termism vs long-termism
• Short-termist approach: immediate goals and objectives
• Long-termist approach: investing in research, innovation, and sustainability

Corporate timescales can be categorized as short-termist or long-termist. Short-termism focuses on immediate goals such as cost-cutting, boosting share prices, and maximizing staff productivity. Long-termism involves investing in research and development, increasing brand loyalty, and considering sustainability and corporate social responsibility. While short-termism may seem like the wrong approach, businesses need to make profits to survive and achieve long-term objectives. Finding a balance between the two is crucial. Evidence-based decision making, using scientific forecasts and techniques, is generally preferred as it provides consistent results and justifications. However, it is based on past trends and may not guarantee future outcomes. Subjective decision making, based on intuition or gut feeling, may be necessary in fast-changing environments.