a) Explain what makes an organization successful. b) Explain the functional/levels/roles of...

Question:

a) Explain what makes an organization successful.

b) Explain the functional/levels/roles of management.

c) Explain the approaches to ethics.

d) Explain the decision-making process.

e) Explain how a competitive advantage can be achieved in organizations.

f) Explain the formal planning process.

g) Explain the concept of stakeholders.

h) Explain the concept of CSR.

Definition of an Organization:

An organization is a legal entity that consists of many people working together for a shared goal or purpose. Domestic and multinational companies, academic institutions, government departments, non-profit entities and societies are all examples of organizations.

Answer and Explanation:


a) The successful organization has properly defined goals and the appropriate level of manpower with sufficient skills to achieve those goals within a given time frame. At the management level, leadership qualities are key to the success of an organization.


b) Managerial functions include the following:

  • Planning, which is the primary function of management, involves setting goals for a company or an organization based on the potential opportunities available and comparing the actual with the proposed results
  • Organizing, or allocating resources
  • Guiding, motivating and supervising lower-level employees


c) Approaches to ethics include consequentialist ethics (achieving the greatest degree of good for the largest number of people), deontological ethics (arriving at ethical decisions or duties through coherent and consistent reasons and demonstrating respect of others' autonomy) and virtual ethics (aspiring to a balance among ethical principles, avoiding vices and valuing integrity).


d) The decision-making process consists of the following steps:

  • Identify the problem.
  • Identify the alternative ways to solve the problem.
  • Select the best solution from the proposed solutions.
  • Implement the solution.
  • Ask employees for feedback about the solution on a regular basis.


e) There are four ways companies can achieve a competitive advantage:

  • Offer the same or a similar product or service for a lower price.
  • Conduct research to differentiate company products and services from competitors.
  • Maintain the competitive strategy once attained by using a defensive strategy.
  • Form strategic alliances with other companies.


f) The formal planning process includes the following steps:

  • Discuss and establish long-term objectives.
  • Discuss and establish alternatives for achieving those objectives.
  • Compare and evaluate the alternative strategies.
  • Implement and monitor the strategies.
  • Secure stakeholders' commitment to the planning process.


g) Stakeholders are those people that have some financial share or other vested interest in a business or an organization with the aim of achieving a goal or earning a profit.


h) CSR refers to corporate social responsibility, which means contributing to the welfare of society by making charitable donations and ethical decisions and/or encouraging volunteerism.


Learn more about this topic:

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What Is Organizational Structure of Management? - Types & Examples

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Chapter 9 / Lesson 32
71K

The organizational structure of management determines how the work within an organization flows. Learn what an organizational structure's function is and explore the different types of organizational structures through some examples.


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