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Disclosure limit of shareholding for financial statement in the UK. začať sa učiť
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Strategic drift can be defined as a gradual deterioration of competitive action that results in the failure of an organization to acknowledge and respond to changes in the business environment. Homogeneous mindset at managerial and board levels.
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Key factor to consider in PESTEL – political začať sa učiť
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Changes to government policy
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Key factor to consider in PESTEL – economic začať sa učiť
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Key factor to consider in PESTEL – social začať sa učiť
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Changes to taste and fashion
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Key factor to consider in PESTEL – technological začať sa učiť
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New hardware and software capabilities.
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Key factor to consider in PESTEL – environmental 2 začať sa učiť
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Geographic location.| Use of resources.
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Key factor to consider in PESTEL – legal začať sa učiť
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Restriction or extra regulations
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What instrument is used to analyse potential impacts on future growth? It identifies the main drivers in the external environment. začať sa učiť
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What instrument is used to analyse potential impacts of future margins? začať sa učiť
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Porter's 5 Forces analysis.
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What instrument is used to analyse potential new foreign markets for expansion? začať sa učiť
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What instrument is used to analyse the ability to cope with changes in the external environment? začať sa učiť
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What instrument is used to determine the source of competitive advantage or disadvantage? začať sa učiť
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What instrument is used to bring together the internal and external analysis in order to understand overall strategic position? začať sa učiť
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Porter’s diamond factor conditions examples začať sa učiť
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Basic factors: weather, local raw materials. Advanced: telecommunications, education system.
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Strategic Focus (Leadership, Management, Planning); People (Personnel, Staff, Learning, Development); Operations (Processes, Work); Marketing (Customer Relations, Sales, Responsiveness); Finances (Assets, Facilities, Equipment).
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Human Resources Management
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Continuing professional development
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What is an Organisational Profile in case of Baldrige performance excellence? začať sa učiť
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Relationships, Environment, Challenges.
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2 [Competitive strategy] začať sa učiť
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Finding cheaper alternatives | Eliminating all waste.
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2 [Competitive strategy ] začať sa učiť
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Changes in buyer preferences | Loss of barriers to entry.
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3 [Competitive strategy] začať sa učiť
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Economies of scale | A focus on cost reduction | Eliminating all wastes
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[Competitive strategy] začať sa učiť
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e.g. international
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3 [Competitive strategy] začať sa učiť
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Economies of scale | Branding | Service levels.
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3 [Competitive strategy] začať sa učiť
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Loss of brand | Difficult to achieve | Target for all rivals
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3 [Competitive strategy] začať sa učiť
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Innovation | Branding | Marketing.
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Differentiation key threats: 2 [Competitive strategy ] začať sa učiť
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Being copied by rivals. || New technology.
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Focused differentiation CSFs 2 [Competitive strategy ] začať sa učiť
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Market knowledge | Unique products and services.
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Focused differentiation key threats: 3 [Competitive strategy ] začať sa učiť
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Recession | Small market size | Few barriers
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Existing product and existing market. (growth strategy) začať sa učiť
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Market penetration best use when...? 2 začať sa učiť
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Best used when market is growing | Introduce a new or improved product
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Market penetration risks: 2 začať sa učiť
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Competitors will react | Can lead to stagnation.
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New product and existing market growth strategy začať sa učiť
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Product development is used when we have...? 2 [growth strategy] začať sa učiť
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New and improved products | Copy rivals.
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Product development risks: 2 [Growth strategy ] začať sa učiť
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Unknown demand | Can cannibalise existing products
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Existing product and new market. [growth strategy] začať sa učiť
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Strategic alliances are often used to...? začať sa učiť
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Market development risks: 2 začať sa učiť
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Puts a strain on stratigic capabilities. | Need new external analysis.
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New product and new market growth strategy začať sa učiť
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3 [growth strategy] začať sa učiť
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Very different CSFs | Need new external analysis | Can reduce flexibility.
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Forward diversification examples: začať sa učiť
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A farmer who directly sells his crops at a local grocery rather than to a distribution center that controls the placement of foodstuffs to various supermarkets. Or, a clothing label that opens up its own boutiques, selling its designs directly. Forward integration is a business strategy that involves a form of vertical integration whereby business activities are expanded to include control of the direct distribution or supply of a company's products.
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Backward diversification example začať sa učiť
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A company might buy their supplier. Companies often complete backward integration by acquiring or merging with these other businesses, but they can also establish their own subsidiary to accomplish the task. BD is a form of vertical integration in which a company expands its role to fulfill tasks formerly completed by businesses up the supply chain. It is when a company buys another company that supplies the products or services needed for production.
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Horizontal diversification začať sa učiť
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Horizontal diversification is the acquisition of a business operating at the same level of the value chain in the same industry. Procter and Gamble’s 2005 acquisition of Gillette is a good example which realized economies of scope. Because both companies produced hundreds of hygiene-related products the merger reduced the marketing and product development costs per product.
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Conglomerate diversification začať sa učiť
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Conglomerate diversification is unrelated diversification: the businesses which are joined together have no connection whatsoever. An example would be a supermarket joining with a car manufacturing company. Little or no synergy with its core business or technology.
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Global Reporting Initiative
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Corporate Social Responsibility short definition and goals. 2 začať sa učiť
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International private business self-regulation. | Goals of a philanthropic and charitable nature. CSR
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This is when an executive director of Company A serves as a NED in Company B and, at the same time, an executive director of Company B serves as a NED at Company A. Such a relationship is considered to make the two boards too intimately involved witheach other and potentially reduces the quality of the scrutiny that the two NEDs involved in the cross-directorship can bring.
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Environmental footprint accounting začať sa učiť
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It measures the demand on and supply of nature. On the demand side, the Ecological Footprint measures the ecological assets that a given population requires to produce the natural resources it consumes (like food). On the supply side, a city, state or nation’s biocapacity represents the productivity of its ecological assets (e.g. cropland). These areas, especially if left unharvested, can also absorb much of the waste we generate, especially carbon emissions.
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Organic growth characteristics 3 (development method) začať sa učiť
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Popular with employees. | Slow but less risky. | no valuation problem 3) you are not buying goodwill which could be destroyed later or which may never have existed.
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Acquisition characteristic začať sa učiť
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Useful if you are expanding into another country or product line | You have to pay for goodwil but it is usually difficult to value | There is an asymmetry of information: sellers usually knowing more than buyers. This increases the risk to the buyer.
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Leader definition by Buchman and Huczynski: začať sa učiť
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Someone who exercises influence over other people.
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Leadership traditional definition začať sa učiť
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An interpersonal influence directed toward the achievement of goals.
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3 keywords from leadership definition: začať sa učiť
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Interpersonal | influence | goal
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from leadership definition začať sa učiť
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Interpersonal means between persons. Thus, a leader has more than one person to lead.
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from leadership definition začať sa učiť
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The power to affect others.
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from leadership definition začať sa učiť
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Goal is the end one strives to attain.
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Problems with traits theories: začať sa učiť
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There will always be counter-arguments - one theorist will say a leader should always be courteous whereas another will say that a rude and effective leader was identified.
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Behaviour / style theories: 2 začať sa učiť
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Theory focuses on how leaders behave, and assumes that these traits can be copied by other leaders. | It suggests that leaders aren’t born successful, but can be created based on learnable behavior.
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Tells (autocratic) management style: začať sa učiť
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The manager makes all the decisions and issues instructions which are to be obeyed without question.
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Sells (persuasive) management style: začať sa učiť
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The manager still makes all the decisions, but believes that team members must be motivated to accept them in order to carry then out properly.
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Consults (participative) management style: začať sa učiť
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The manager confers with the team and takes their views into account, although still retains the final say.
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Joins (democratic) management style: začať sa učiť
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The leader and the team members make the decision together on the basis of consensus.
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Problems with behavioural theories: začať sa učiť
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Unfortunately, as with trait theories, it is possible to find counter examples. E.g. Steve Jobs demonstrating the least effective style (autocratic) but running the largest technology company in the World.
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Contingency / contextual theories: začať sa učiť
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The modern consensus is that there is no one best style of leadership that is equally effective for all circumstances. | A theory that is a mixture of both trait and behavioural is the situational approach.
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What instrument it is used to respond a risk? začať sa učiť
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3 začať sa učiť
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Insurance. | Outsource operations. | Joint ventures (partial transferring).
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TARA framework začať sa učiť
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The risk has been assessed as being so serious that all possibility of the event occurring should be avoided.
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risk response – Reduce. Give one example. TARA framework začať sa učiť
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Take steps to mitigate the risk. For example, instead of installing a new computer system in every branch over one weekend, run a pilot operation then gradually extend.
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TARA framework začať sa učiť
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Don’t do anything about the risk. It’s just part of everyday business.
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To oversee the appointment and remuneration of executive directors.
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Join venture, Strategic Alliance, Partnering characteristic 3 začať sa učiť
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Share skills | and costs | but difficult to agree.
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3; [BGC matrix] začať sa učiť
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Strong position in a low growth (therefore unattractive) market. | Little threat from rivals. | Just keep the product ticking over and collect the cash.
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Tells us the highest acceptable cost of capital.
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Relies on a cost of capital estimate.
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Payback period key disadvantage: začať sa učiť
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Requires a target or benchmark.
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Profits are easily manipulated.
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It is not useful for comparing projects.
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Dealing with risk in decision making. An expected value summarises all the different possible outcomes by calculating a...? začať sa učiť
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_a single weighted average It is the long run average (though not necessarily the most likely result).
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Complicated scenarios in dealing with risk in decision making could be represented as...? začať sa učiť
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Decision trees force the decision maker to consider the logical sequence of events.
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Key limitations in dealing with risk in decision making: 3 začať sa učiť
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Useful only for one-off decisions. | Based on subjective information. | Ignores attitudes to risk.
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Who is the ultimate principal in the public organizations? začať sa učiť
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2. e.g. Railway passengers.
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Ultimate difference between CEO and chairman. 2 začať sa učiť
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The chairman has the ultimate role of leading the board, | whilst the CEO leads the business.
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unimportant začať sa učiť
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Working with lower costs to make more profit. The usual way is to employ fewer staff by making staff redundant.
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The distinction between CSR strategy and strategic CSR with examples. začať sa učiť
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CSR strategy is to have set of policies which guide CSR activities. | E.g. a company might have a policy to invest in some particular communities. | Strategic CSR is when company support the main business areas. | Bank might favour financial education. It would be seen as strategically wasteful to use CSR to support activities which are not aligned to the core activities.
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Environmental risk example: začať sa učiť
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the release of dangerous chemicals into the local river.
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a competitor launches a fantastic product.
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you launch a poor product
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interest rates being increased so that consumer demand is suppressed.
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the supply and price of raw materials change adversely.
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Political, cultural and legal risk example: začať sa učiť
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becoming illegal or unpopular
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you are exporting and the buyer’s currency weakens before you are paid.
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subsidiary is bought but it turns out that it isn’t as good as you thought it would be.
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Remuneration committee začať sa učiť
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