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3. What is different between Friedman’s Traditional and Carroll View of business social
responsibility?
- According to Friedman, there is only one corporate social responsibility, namely to
use resources with activities that can obtain and increase company profits, as long as
they are in accordance with existing rules, are open, and compete freely without
cheating. The government can determine the main rules about how to operate that do
not damage the environment and regulate the community, about taxation, about the
use of labor, and others. The company only needs to follow it, while according to
Carrol social responsibility, from a strategic point of view that a business company
needs to consider its social responsibility for the community in which the business is
a part. When businesses begin to ignore their responsibilities, people tend to respond
through the government to limit business autonomy.
4. Explain about a value chain and corporate culture? And what are the strategic financial
and marketing Issues?
- A value chain is a linked set of value-creating activities beginning with basic raw
materials coming from suppliers, to a series of value-added activities involved in
producing and marketing a product or service, and ending with distributors getting
Strategic Management
the final goods into the hands of the ultimate consumer. Corporate culture is the
collection of beliefs, expectations, and values learned and shared by a corporation’s
members and transmitted from one generation of employees to another. The term
corporate culture generally reflects the values of the founder(s) and the mission of the
firm . It gives a company a sense of identity . The culture includes the dominant
orientation of the company , such as R&D at HP , high productivity at Nucor,
customer service at Nordstrom , innovation at Google, or product quality at BMW.
Like structure, if an organization’s culture is compatible with a new strategy , it is an
internal strength. But if the corporate culture is not compatible with the proposed
strategy, it is a serious weakness.
Strategic Financial Issues,The financial manager must ascertain the best sources,
uses, and control of funds. Cash must be raised from internal or external sources and
allocated for different uses. The flow of funds in the operations of the organization
must be monitored. To the extent that a corporation is involved in international
activities, currency fluctuations must be dealt with to ensure that profits aren’t wiped
out by the rise or fall of the dollar versus the yen, euro, and other currencies. Benefits,
in the form of returns, repayments, or products and services, must be given to the
sources of outside financing. All these tasks must be handled in a way that
complements and supports overall corporate strategy.
Strategic Marketing Issues,The marketing manager is the company’s primary link to
the customer and the competition. The manager must therefore be especially
concerned with the firm’s market position and marketing mix.
5. What is mind SWOT analysis and how the implication of IFAS and EFAS to SFAS
concept in business?
- SWOT is an acronym used to describe the particular strengths, weaknesses,
opportunities, and threats that are strategic factors for a company.
The corporate strategy factors found in EFAS and IFAS are summarized and used in
SFAS