Definition of Cronyism
What does the term "cronyism" mean? What is meant by the term "cronyism"?
"Cronyism" occurs when a powerful person appoints his friends and close acquaintances to positions of power, regardless of their qualifications for the job.
![Definition of Cronyism - Financial Dictionary](https://www.davemanuel.com/images/def_cronyism.gif)
"Cronyism" can occur in the world of politics and the business world as well. "Cronyism" is also referred to as the "old boys club" in the business world.
"Cronyism" is a word with negative connotations. Unpopular leaders (business and political leaders) will usually appoint their close friends to high-ranking offices in order to protect their own jobs.
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