By Mark Vernon
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Additional resources for Business The Key Concepts
It sets the tone that employees follow. A related issue is that of company vision or mission. For example, in the 1980s Bill Gates saw Microsoft's goal as putting a `computer 43 COMPETITION on every desk in every home' ± remarkable then, but the success of which can be judged by the fact that it is commonplace now. Company vision brings a long-term perspective on short-term management decisions. , 2000; Pendlebury and Groves, 1999 COMPETITION The rivalry that exists between firms operating in the same markets.
He believed that governments should intervene at certain times, in particular to manage the distribution of commodities. Mill also believed that demand played an important role in determining exchange value. Neoclassical economic theories were the result, and Marx added a pejorative connotation to the classical label when he accused Smith and others of theoretical myopia. See also: Keynesian economics, Monetarism, Neoclassical economics Further reading: Magill, 1997; Malthus, 1999; McAuliffe, 1997; Mill, 1998; Peach, 2001; Smith, 2000 40 COGNITION COGNITION An individual's perception of their environment.
1995; Mudambi and Ricketts, 1998; Ostroff, 1999; Pasternack and Visco, 1998 35 CHANGE MANAGEMENT CHANGE MANAGEMENT The matter of steering a business from established to new modes of operation. Change management has always been a critical issue for businesses, since there is no market that does not evolve and challenge companies to respond. However, the pervasive spread of information technology has led many to believe that change must become a way of life in organizations, not merely an activity that should occur at occasional intervals.