The relationship is related to the needs of stakeholders and the ability to expect peculiar things from the organization so that they can maintain a trustful relationship in the organization (Castaldo, 2007, p. 57). In this situation, the leadership of a company needs to ensure that the organization develops an organizational culture that uses ethical stewardship to develop a sense of corporate trustworthiness among its various stakeholders so that it can enhance its sustainability in a highly competitive market (Sebastian, 2011). In this investigation, a research was done regarding the relationship between leadership, ethical stewardship and trustworthiness in corporate organizations and the issues related to the relationship if the business is totally invaded by an information system. A number of researchers support the theoretical concept of trustworthiness in corporate relationships in different ways. Individuals such as Covey and Paine suggest that a long-term trustworthiness is essential to establish a sustainable organization (Coldwell, Hayes & Long, 2010).
Businesses today face a number of challenges and opportunities including globalization, the effects of advances in technology, laws, and regulations. A major challenge for marketing-oriented companies as a response to the rapidly changing marketplace is by engaging continuously in market-oriented strategic planning. Also, marketing has to learn to develop and maintain a viable fit among the objectives, resources, skills, and opportunities. Why are the production concept, product concept, and selling concept of limited use for conducting global business operations today? Organizations that have conducted marketing activities have used the following concepts: the production concept, product concept, selling concept, and marketing concept, and holistic marketing concept.
Scholars such as Friedman suggest that treating the economic responsibility as the most important responsibility of a business, is called a profit-maximising view, and “the social responsibility of a business is to increase its profits.” This kind of view states that a company should be operated on a profit-orientated basis, with its sole mission being to increase profits. This approach would seem to benefit stockholders, as well as stakeholders, as the stockholder is going to benefit from the profit made by the company and will gain something back from the company, however problems can occur when the businesses and companies do not balance their ethical responsibility, as they can therefore be perceived as greed and unable to balance their corporate social responsibility, and will cause a bad name for a business. So although the stockholder may also be gaining profit by doing this (what the company sees as doing the right thing) is not necessarily the right thing to do in terms of stakeholders. However, Friedman would argue that as long as the business is maximising its profit, that is the main point and so the loss of the stakeholders is less important. This argument can be deemed as weak as Friedman’s approach does not mean that stakeholders can be benefited alongside stockholders, and so disagrees with
According to Satterlee, "An essential element of strategic planning is the ability of an organization's leaders to be able to forecast and adapt to the future of the organization," (Satterlee, 2009). With a global economy, many organizations find that for future growth opportunities the selection of effective and efficient leadership is necessary. Important Learned Concepts Covey's believes that changes that start within oneself is an approach to effective of character and principles. Learning to differentiate between personality and character ethics concepts are essential for an effective resolution to most business decisions. The personality ethics, considered secondary traits, are most effective in specific circumstances while character ethics, considered primary traits, are most effective when used simultaneously with personality ethics.
More than ever before, what the brand says and what the company does must be synchronized. NBB believes the mandate for corporate social responsibility gains momentum beyond the courtroom to the far more powerful marketplace, any current and future manager of business must realize that business ethics are not so much about the installation of compliance codes and standards as they are about the spirit in which they are integrated. Thus, the modern-day brand steward- usually the most externally focused member of the business management team- must prepare to be the internal champion of the bottom line necessity for ethical, values-driven company behavior. At New Belgium, a synergy of brand and values occurred naturally as the firm’s ethical culture- in the form of core values and beliefs- and was in place long before NBB had a marketing department. The ethical issue is that all NBB business decisions are made according to the core values and beliefs and is focused on being ethically and environmentally responsible.
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! The correct answer is: D. A dynamic organization is, “flexible and adaptive, particularly in response to competitive threats and customer needs” (Bateman & Snell, 2011, p.16). 15. For today’s managers, the organizing function requires a higher focus on which of the following? A.
Business is constantly changing, effecting and influencing society on a daily basis. When I first studied Business I was drawn to studying the way decisions within a business could affect another business or other social institutions such as the family or education. I have set myself a personal target to gain a degree and progress onto employment in human resources. I believe that despite the fact our society is technologically advanced, all businesses are reliant on positive, social interactions and because of this, businesses must nurture and protect their staff. Communication, interaction and positive social relations are key to a business being successful.
Some companies generate their organizational structures based on the functional areas of business, creating different departments once the business has been properly established and taken on a reasonable number of employees (Riley, 2012). Organizations employ managers who are the head of a functional area or department and have responsibilities depending on the needs of the organization. The management function bears significant amounts of responsibility and accountability for which a manager has authority in the organization. The role of the manager is to plan, organize, direct, monitor and evaluate success in all functional areas of management. The role of the manager is crucial to any organization because people need guidance and leadership to help accomplish goals.
Successful companies understand the powerful impact customer-defined quality could have on their business. For this reason many competitive firms continually increase their quality standards and a large part of this TQM philosophy is to empower all employees to seek out quality problems and correct them. An organization responding to the needs of empowering its employees needs something very different – an honest, reliable assessment of the strength and weaknesses of its relationship with its people. These needs can only be met through Voice of the Employee (VoE), a research methodology designed to support evidence-based, employee driven change. VoC provides valuable insight into what about the product or service that customers find valuable, and what they find annoying or useless.
It is important to have a universal organizational culture that fits the demands of the businesses environment. Obtaining the proper culture could be a competitive benefit for a business, however utilizing an improper culture within the organization could lead to difficulties in performance, organizational failure, and could be a barrier preventing the business from changing and taking risks (Organizational, n.d.). In order to have a strong culture it needs to be distributed throughout the company’s employees, which is a culture that most members in the company show consensus concerning the values of the organization (Organizational, n.d.). The stronger an organization’s culture, the more possible it is to assume the way employees think and behave. Legal, Ethical & Meeting Issues It is never ok to discriminate in the workplace, however discrimination against people based on their ethnicity, racial or cultural orientation in the United States is