Companies must view themselves as part of an ecosystem; one entity in an interdependent interconnected environment. Each part of this ecosystem of business is impacted by the decisions and operations of the other parts. The organization of today and tomorrow has to adopt a system-centric model of business or suffer the consequences, most of which being dire and unforgiving. The key to business success is to make sure no part of the system is overlooked and undervalued. Research has revealed that there is a strong correlation between a stakeholder conscious organization’s
Large corporate spending on information technology has demanded that there be a quantifiable approach to view not only a return on the corporation’s investment, but also assurance the products and services the company is paying for are performing and producing as intended. Therefore, it is incumbent upon management to review the effectiveness of these controls. 4. The current-day situation of “world
14. Which of the following best describes a dynamic organization? A. Creating organizations that continually focus on the internal processes to achieve goals B. Building an organization by grouping jobs into work units and allocating resources C. Identifying business functions and mobilizing leaders D. Being flexible and responsive towards customer needs and the competitive environment Correct!
More specifically, it is a process of determining, acquiring, analyzing and synthesizing, and disseminating relevant data, information, and insights to decision makers in ways that mobilize the organization to take appropriate actions that, in turn, maximizes performance. If organized for retrieval, data collected from the day-to-day operations of the organization constitute a decision support system (DSS). A business intelligence system (BIS) is designed to provide the manager with ongoing information about events and trends in the technological, economic, political and legal, demographic, cultural, social, and, most critically, competitive arenas. Research studies are used to supplement DSS and BIS.” There should be a question about the definition of research because it can cover a broad range of things. Research without a goal is ineffective so when attempting to conduct research one must define what kind of research they wish to accomplish.
The critical components and subassemblies that make a major difference in the performance and cost of the finished product are currently outsourced to external suppliers. 1.3 The desired outcome After conclusion of this business case it should be clear how to link insourcing/outsourcing decisions to strategic corporate requirements, including the need to define core competencies. Furthermore the qualitative and quantitative considerations associated with
Stakeholders are known as those who show an interest in a business, they can be individuals, groups or organisations that are affected by the activity of the business. There are many examples of different types of stakeholders. There are two main types of stakeholders, internal and external. Internal stakeholders are those who are within the business. For example owners and workers are key stakeholders.
Explain. According to the text information, what are the disadvantages associated with using a group for decision-making? Discuss how the leaders of Wallingford could most effectively combat these disadvantages. 4. The case discusses various methods the owners have applied in attempting to resolve the company’s problems.
Week Two Learning Team Reflection During Week 1, we discussed the basic components of business research. We were shown how to recognize dilemmas and address issues related to corporate America, such as declining sales, increase in costs and any other issues that may have adverse impact on business. With that, business research becomes a problem solving tool in the decision making. However, ethics must first be weighed to ensure the social bottom line and productivity remains at its highest. Unethical behavior undermines positive gains.
The resource based view argues that companies posses some unique resources (assets and capabilities) and competitive advantage is acquired by accumulating those strategic assets. Resources are any tangible (equipment, raw material) or intangible (firm image, processes, routines) things that a company owns and can use to carry out its crucial processes. Resource based view focuses on the resources and capabilities possessed by the firm to analyze the profitability and value. According to the view an organization is a bundle of resources, which fall into five general categories of financial resources, physical resources, human resources, knowledge and learning resources, and general organizational resources. The Tootsie Roll Industries efficiency employs further review in tangible resources, intangible resources, capabilities, and core competencies as a strategy to achieve the highest ranking in the candy market.
Ethical standards are the code of conduct required by the organization for workers to follow. The relationship between organizational culture and ethics is that the organizational culture guides workers when faced with ethical problems. If the organization culture counters what they are required to do ethically, workers may put the organization in jeopardy by not act ethically. When a worker is faced with a decision that others within the organization think as appropriate, though it is unethical, the worker may follow what is acceptable as per the culture. It is the relationship between organizational culture and ethics that can get businesses into significant trouble in the long term.