Ethical Decision Making Process Essay Example | Topics and Well Written Essays - 250 words

Ethical Decision Making Process - Essay Example On one hand, she could choose to pay the customs agent $500 and have the customs process expedited faster. Secondly, Jane could choose to be honest and politely request for her case to be handled on first. The third option would involve being fair to everyone and standing in the queue to wait for her turn. A careful evaluation of each option gives a clear picture of the consequences. In the first option, if Jane chooses to pay the customs agent, she would be committing an irregularity in light of the organizational rules and policies. Such a decision would raise economic, legal and ethical issues that may malign the name of the employer. From an economic standpoint, Jane would be able to earn $1 million to the firm and individual bonuses. Legally, corruption is illegal and punishable under the law and such an action would be illegal. The ethical issues related to corruption are unacceptable. The decision would be immoral. If Jane chooses to be honest and politely request for her case to be handled first, there are no legal issues. Kindly asking people to allow her move faster in the line makes no harm. From an ethical perspective, kindness and honesty are virtues commonly associated with good behavior. The second choice is ethical acceptable. If her request is accepted, the economic benefits described in the first choice will be realized. Thirdly, if Jane chooses to stand in the queue and wait for her turn, the economic benefits described for the first and second options would be lost. The employer would lose $1 million and Jane would not qualify for the bonus payments. The third option has no legal issues and is ethically sound. The action creates no harm to others and is consistent with company policy of ‘being fair to others’. The best alternative would be for Jane to politely and kindly request for her case to be handled first. The ethical intensity of the action prescribed for Jane takes into consideration factors such as the magnitude of

Strategic management developement Essay Example | Topics and Well Written Essays - 4500 words

Strategic management developement - Essay Example All these resources may become useless unless the organization formulate suitable strategies to exploit it. For example, Apple Inc was on the verge of destruction in 80’s and 90’s because of the loop holes in the strategic management of its business. However, Steve Jobs changed the business strategies of Apple Inc during the latter part of 90’s and at the beginning of 2000. The transformation of Apple Company from a computer company to a consumer electronics company has brought huge success. At present, Apple Inc. is the second largest company in the world in terms of market capitalization and they are the most valuable technology company in the world. At the same time, Microsoft was the leader in IT industry until a couple of years before. Same thing cannot be said about them now. Samsung is another company which was successful in developing suitable business strategies to increase its competitive power in global market. In short, strategic management of busines s is the most important topic in the organizational world at present. This paper analyses various theories with respect to strategic management in general and Porters five Forces Model theory in specific. General Discussion: Strategic Management â€Å"Good strategy is about letting alone and about creating the conditions of innovative adaptations† (Robert and Holt, 2009, p.56). Innovation is the key for organizational success. In the absence of innovative strategies, organizations may struggle to survive in the heavily competitive business world. As mentioned earlier, Apple Inc. is one company which showed the importance of innovation to the business world recently. It should be noted that Nokia was the leader in the mobile phone industry until recent times. They thought that nobody can question their supremacy in the mobile phone industry. Apple proved Nokia wrong. When all the traditional mobile phone manufacturing companies thought about enhancing the features of mobile ph ones, Apple thought differently and developed the touchscreen phone. The entry of iPhone in the mobile phone market caused huge problems to mobile phone manufacturers including Nokia. At present Apple is one among the top two mobile phone manufacturers in the world. In fact Nokia and other mobile phone manufacturers forced to follow the path of Apple. According to De Wit and Meyer (2010), â€Å"the four components of strategy are market opportunity, corporate competence and resources, personal values and aspirations and acknowledged obligations to segments of society other than stakeholders (p.76). Sustainable business practice is gaining grounds at present. It is impossible for modern organizations to excel in the market without showing commitments to corporate social responsibility. Companies which follow unethical business behaviours are blacklisted by the modern consumers. The reputation and brand image of the company is important things for the modern consumers. In short, ethi cal business practices are part of strategic business management at present. â€Å"Since the world is changing rapidly, we can also expect the firm’s strategy to do so. This may involve developing new bases of competitive advantage or completely new lines of business†(Fitzroy and Hulbert, 2004, p.5). Diversification of business is one of the major elements in strategic management. It should be noted that competition is increasing day by day in global market after the introduction of globalization. Along with existing players, new players are also