How Do Successful Business Leaders Respond to the Changing Business

question 7

Essay

 How do successful business leaders respond to the changing business environment?

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Definitions:

Procedural Fairness

A concept emphasizing the importance of fair and impartial processes in decision-making, leading to increased acceptability of decisions.

Interactional Fairness

The perceived fairness of the interpersonal treatment people receive when organizational procedures are implemented.

Distributive Fairness

Distributive fairness, also known as distributive justice, is the perceived fairness of the outcomes received, including the distribution of rewards or resources among members of a group or organization.

Shocks

Unexpected or sudden events that disrupt the current state of affairs, often leading to significant changes.