What is and should be the relationship between an organization’s mission and its strategy?
· What are the key advantages and disadvantages of outsourcing and offshoring, and should these practices be regulated? Explain why or why not!
· Why do stakeholders in the same organization often have different goals? Would it not be best if they shared the same goals? Explain your findings!
· Research a recent example of a company’s ethical violation in the news and briefly describe what you believe went wrong by covering the who, what when and were of the incident.
Full Answer Section
Outsourcing and offshoring can have a number of advantages, including:
- Cost savings: Outsourcing and offshoring can help companies to save money on labor costs.
- Access to expertise: Outsourcing and offshoring can give companies access to expertise that they may not have in-house.
- Increased flexibility: Outsourcing and offshoring can give companies the flexibility to scale their workforce up or down as needed.
However, outsourcing and offshoring also have some potential disadvantages, including:
- Loss of control: When companies outsource or offshore tasks, they lose some control over those tasks.
- Quality concerns: There is a risk that the quality of work done by outsourced or offshored employees may not be as high as the quality of work done by in-house employees.
- Job losses: Outsourcing and offshoring can lead to job losses in the home country.
Should outsourcing and offshoring be regulated?
There is no easy answer to the question of whether or not outsourcing and offshoring should be regulated. There are a number of factors to consider, such as the potential benefits and disadvantages of these practices, as well as the potential impact on workers and the economy.
Some people argue that outsourcing and offshoring should be regulated to protect workers and jobs in the home country. Others argue that regulation would stifle innovation and economic growth.
Ultimately, the decision of whether or not to regulate outsourcing and offshoring is a complex one that should be made on a case-by-case basis, taking into account all of the relevant factors.
Why do stakeholders in the same organization often have different goals?
Stakeholders in the same organization can have different goals for a variety of reasons. For example, shareholders may be primarily interested in maximizing profits, while employees may be more interested in job security and work-life balance. Customers may be interested in getting the best possible price and quality, while suppliers may be interested in maximizing their profits.
It is important for organizations to manage these different stakeholder goals. One way to do this is to have a clear mission and strategy that is aligned with the interests of all stakeholders. Another way is to have regular communication and engagement with stakeholders to understand their needs and concerns.
Would it not be best if stakeholders in the same organization shared the same goals?
It would be ideal if stakeholders in the same organization shared the same goals. However, this is not always possible. Stakeholders often have different interests and priorities.
It is important for organizations to recognize the different goals of their stakeholders and to find ways to manage these goals in a way that is fair and equitable to all stakeholders.
Recent example of a company's ethical violation in the news:
A recent example of a company's ethical violation in the news is the case of Wells Fargo. In 2016, it was revealed that Wells Fargo employees had created millions of fake customer accounts in order to meet sales goals. This was a clear violation of customer trust and confidence.
Wells Fargo was fined billions of dollars for this ethical violation and its CEO was forced to resign. The company is still working to repair its reputation.
What went wrong in the Wells Fargo case?
There were a number of things that went wrong in the Wells Fargo case. One of the biggest problems was that the company had a sales culture that was too focused on meeting goals, even at the expense of ethics. This culture created pressure on employees to cheat in order to meet their goals.
Another problem was that Wells Fargo did not have adequate controls in place to prevent employees from creating fake accounts. The company should have had systems in place to detect and prevent this type of fraudulent activity.
Finally, Wells Fargo failed to take appropriate action when it first became aware of the problem. The company waited too long to investigate the matter and to take action against the employees involved.
The Wells Fargo case is a reminder that companies need to have a strong ethical culture in order to prevent misconduct. Companies also need to have adequate controls in place to detect and prevent fraudulent activity.
Sample Answer
Relationship between an organization's mission and its strategy:
An organization's mission is its purpose or reason for being. It is what the organization seeks to achieve in the long term. The strategy is the plan that the organization will use to achieve its mission.
The mission and strategy should be closely aligned. The strategy should be designed to help the organization achieve its mission. Additionally, the mission should be a guiding force for the strategy. It should help the organization to focus on its core goals and to avoid getting sidetracked.
Advantages and disadvantages of outsourcing and offshoring:
Outsourcing is the process of hiring another company to perform a task that was previously done in-house. Offshoring is the process of outsourcing to a company in another country.