Business Strategic Management
Question 1
Social media is a powerful tool that organizations can use to create public awareness and communicate their values and culture (Pierce & Newstrom, 2013). Organizations can utilize this strategy by creating social media accounts and posting the organization’s events and activities that reflect the organization’s ethical standards and values. The organization can communicate its culture by creating unique content that reflects its cultural values and sharing it through social media platforms. The organization can also be posting every ethical dead that the organization or its employees commit. It is also important for the organization to communicate its stand on unethical practices and reaffirm its stand. Every single post on the organization’s social media accounts should be a reflection of its values, culture, and ethical standards.
Social media can be a useful tool for communicating the organization’s culture and values and boosting its ethics. Social media can be counterproductive if not well-managed. One of the advantages of using social media is that it provides access to a large audience. Besides, the organization can promote its public reputation by communicating its positive deeds and moral principles. However, malicious people can gain unauthorized access to the organization’s social media accounts and ruin their reputation. Besides, if the employees do not understand the best practices in using social media to promote ethics and communicate the organization’s values, this strategy could work against the purpose.
There are certain practices that organizations need to observe to make effective use of social media to boost ethics. Most importantly, organizations must train employees on how to appear in social media to reflect the organization’s culture and values (Pierce & Newstrom, 2013). As the person responsible for the role, I would verify our social media accounts’ content to make sure it is what we want. I would also ensure consistency in posting and communication on our social media accounts to keep public interest.
Question 2 (Option A)
In the summary of It’s all Politics, politics refers to the tactful creation and communication of insightful ideas and deciding the what, when, where, how, and whom to communicate the ideas to (Pierce & Newstrom, 2013). The summary suggests that winners choose to communicate their insightful ideas to people capable of rewarding them with larger organization positions. Politics are, therefore, essential for the movement to the top position in an organization. In addition to competence and leadership potential, one must also possess and make good use of political skills to become a winner.
Among the five skills necessary for political development, I would choose to work on intuition to increase my political awareness. I find this skill easy to work on since I am naturally an intuitive person. Occasionally, I find myself using my gut feeling to make urgent decisions, which usually turn out positive. I also have a way of adjusting to people’s changing emotions, which makes me create stronger relationships. I will use my intuition to increase my political acumen by being curious to understand how things work. Being knowledgeable and using my empathy to get people to like me will give me some influential power. With the ability to influence people, I am likely to get a promotion and get things done as a manager.
There is a significant connection between the reading on It’s all Politics and the power reading. The primary link is that politics is crucial for achieving power positions in an organization (Pierce & Newstrom, 2013). Possessing the relevant political skills like persuasion, courage, intuition, and courage will make someone influential (powerful). With power, it is very easy to move up the organization’s hierarchy. People who win know how to make themselves visible to the people who matter (Pierce & Newstrom, 2013). Knowing how to leverage politics is more important than performance when it comes to career development.
Question 3
I would say that the corporate governance of JPMorgan Chase has failed to successfully protect the interests of its shareholders. This failure reflected by the failure to detect and manage risky investments as well as regulatory compliance risks. The bank’s governance already has a negative rating from governance regulators despite its good current performance. However, risks are uncertain, and organizations must prepare.
Corporate governance should reform its structure to adopt enough controls and eliminate conflict of interests. The greatest failure falls in the governance structure of the bank. I think the structure of the corporate governance exposes the bank to more risk. Separation of powers is important for corporate governance since it enhances consultation in decision making. Although risky investments mean heavy returns, it is always wise to consider possible outcomes and what could go wrong. The separation of CEO position and chair of the board will enhance investment decision making through consultation. To enhance compliance, the company should establish legal compliance policies and procedures and communicate them well. Organizations should also strengthen their internal audits by evaluating the competence of audit committees to ensure compliance with organizational objectives and goals.
Response to Student
This student’s work reflects on the significance of the separation of powers in strengthening the oversight role of corporate governance. The discussion brings to my attention the issue of conflict of interest and corporate governance in the private sector. Although board members may have a direct interest in the company, having separate people to make a common decision improves the decision-making process. Having board members with a direct interest in the company would also mean that they want the best for the company. After going through this discussion, I still ask myself how the student addresses the issue of incompetent risk and audit committee members.
Reference
Pierce, J. L., & Newstrom, J. W. (2013). The Manager’s Bookshelf: Pearson New International Edition. Pearson Higher Ed.