Business Assessment An organization must identify its core competencies and strategically align those competencies with its business objectives to achieve success. In fact, C.K. Prahalad and Gary Hamel explained in the Harvard Business Review that the most powerful way for an organization to prevail is for it to “identify, cultivate, and exploit the core competencies that make growth possible” (2000). Lockheed Martin has thoroughly aligned its competencies, business objectives, and key performance indicators, which has undoubtedly contributed to the corporation’s effectiveness. Core Competencies Core competencies are capabilities possessed by an organization that “when applied to create products and services, make a critical contribution to corporate competitiveness” (Edgar & Lockwood, 2011).
Zodiac Aerospace has adapted a proactive form of Corporate Social Responsibility. The company has established the various factors that contribute to the success of the business. The organization has the knowledge skills and resources to put things in perspective and act quicker. Knowledge about the internal operations and how these operations impact profitability and market position enables Zodiac Aerospace to respond to changing circumstances while still focusing on and attaining their business
Organizational Strategy and Objectives The foundation of Wells Fargo’s strategy is its focus on customers. The company’s strategy tends to drive the choices they make and also enable them to prioritize its efforts, differential from peers, and build a lasting value for customers, employees, communities, and shareholders. The diversified business model tends to provide the company with the stability and the strength as it assures communities and customers that it exists to serve them and also the future generations. The objectives of the company are to be the leader in financial services in areas of team member engagement, customer services and advice, shareholder value, innovation, corporate citizenship, and risk management (Wells Fargo n.d). Through the use of innovative technology, Wells Fargo aims at creating new kinds of lasting value for businesses and customers and also increase efficiency for the internal
The managers have managed the employees to work towards the mission of the company, which is ‘where people love to work’. The employees enjoy going to work The managers in Virgin Atlantic has performed the four management functions well to manage its employees in order to develop the company into a successful brand in the airline
Strategic planning gives a clear framework with criteria for us to make day-to-day decisions. It also helps to identify fragmentary and unaligned choices and personal value judgments. This strategic planning encourages the commitment of the entire HO in order to achieve the planned results and this is why it is an important element in institutional cohesion. An organization that has better strategic planning and applies it consistently can help to raise up corporate reputation. A strategic plan is the systematic way that describes how your company applies the chosen strategy.
In recent years CSR has become a fundamental business practice and has gained much consideration from chief executives, chairmen, boards of directors and management teams of larger international and national companies. They understand that a strong CSR program is an essential aspect in achieving good business practices and successful leadership. Companies have determined that their impact on the economic, social and environmental backdrop directly affects their relationships with stakeholders, in particular investors, employees, customers, business partners, governments and communities. CSR encourages a vision of business accountability to a wide range of stakeholders, as well shareholders and investors. The key areas of apprehension in CSR are environmental protection and the well-being of employees, community and civil society in general, both now and in the future.
He strongly believed in employee empowerment and believed that and believed that some key decisions in the in the organisation should come from the bottom level of management as well as the top levels of management. According to the website www.slideshare.net the democratic style of leadership should be used when the manager wants to encourage team building along with participation. It should be used to provide opportunities for staff to develop both personal growth and job satisfaction and to keep staff informed about matters and problems that affect them. Finally the democratic style of leadership should be sued in the decision making process and for sorting any problems that arise within the
Ethical leadership is a growing concept and many large companies are promoting business ethics as their corporate social responsibility. The behavior and the individual values of the leader provide the direction to the business. Leader’s actions in term of ethical behavior and unethical behavior gives ideas to the employee and other stakeholders that what need to follow and what values are aspired in an organization. The position of the leader with moral and ethical values is most important to provide the solutions to ethical issues in a workplace. This also evident from above discussion that ethical leadership is also crucial in developing the ethical culture within an organization.
Introduction The focus of this written paper is to introduce a successful business person in the world and analyze the person's unique events or stories with an appropriate organizational behavior theory. We would like to explain in detail with applications and discussions of how the chosen leader has demonstrated the critical criteria of a certain theory. Richard Branson, who is the founder of the Virgin Limited is seen by us as a famous leader in the business sector. His open-minded leadership style has fully demonstrated the transformational leadership theory. Bernard Bass (1985) stated that transformational leaders care about the development of followers, improve the organization through inspiration and stimulation and engage in the betterment
A personal brand is essential for the advancement of a leader’s career. With a personal brand, the individual in power increases his relevancy and even his market value in the global economy. The personal brand will accentuate the strong attributes the leader supplies in the workplace. Political leaders, successful CEOs, and even celebrities showcase their achievements and success stories through their authentic brand statement. For example, Oprah Winfrey showcases her caring personality through her personal brand statement, “If I lost control of the business I’d lose myself – or at least the ability to be myself.