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Instead of hagiography, organizational memory is being produced as an induction and educational tool that transmits long-term information. Oral debriefing, which concentrates on short- and medium-term memory, targets exiting and key occupant employees, recurring corporate events, and important projects in detailed testimony of participants.
Institutional memory requires the ongoing transmission of memories between members of the group. As such, it relies on a continuity of group membership. If everyone at the aforementioned auto shop quit at once, the employees hired to replace them would not be able to benefit from the previous group's experience.
Corporate amnesia is a phrase used to describe a situation in which businesses, and other types of co-operative organizations, lose their memory of how to do things. The condition is held, by some people, to be analogous to individual amnesia .
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Business economics is an integral part of traditional economics and is an extension of economic concepts to the real business situations. It is an applied science in the sense of a tool of managerial decision-making and forward planning by management.
Managerial economics aims to provide the tools and techniques to make informed decisions to maximize the profits and minimize the losses of a firm. [4] Managerial economics has use in many different business applications, although the most common focus areas are related to the risk, pricing, production and capital decisions a manager makes. [31]
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This is an accepted version of this page This is the latest accepted revision, reviewed on 18 December 2024. Legal entity incorporated through a legislative or registration process For other uses, see Corporation (disambiguation). "Corporate" redirects here. For other uses, see Corporate (disambiguation). "Corp." redirects here. Not to be confused with "Copr.". This article is part of a series ...