Essay on Mngt 5000 Final

3661 Words 15 Pages
1. Explain why ethics are an integral component of the manager’s toolbox in the 21st century. (5 Points)

Ethics are integral in the 21st century due to the evolution of business, technology, and government oversight. There is a legal responsibility to do what is right by the customer – if you produce a product knowing that there is a high risk of harm to the consumer, you will be eventually be found out, prosecuted, and held liable.

Organizations have put a high priority on ethics, which can be hard to balance in the highly competitive business world. But with the advancements in technology and social media, consumers are highly aware of how an organization behaves – and this information travels the world quickly. There is little
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If however, the mission statement is in line with the culture, it can give a sense of where the company is headed, if top talent will want to work at the company, and how engaged employees are in the work that they do.

The culture can affect vision by providing a sense of purpose and clear direction for the employees. They should align, and propel the company forward, as well as give guidelines on how employees should make decisions. It promotes collaboration between all units/employees as well.

4 Explain how the macro environment affects the organization (10 Points)

The macro environment includes factors that influence the strategy and performance of an organization. These factors are economic, legal, political, demographic, social conditions, natural forces, and technological changes.

Political and legal forces could limit the changes an organization can make to its product, its pricing, and labor force. Political forces may not be mandatory, such as legal forces, but the ramifications of not adhering could be great.

Economic factors affect the organization by limiting growth rates, employment opportunities, costs of raw materials, and the relative cost of a dollar. Economic factors may not be limited to the organization’s home country, it could include countries where materials or labor is outsourced to, or where other consumers reside.

Technology can affect the organization by the speed at which

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