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What does management need to do to ensure that the corporate culture helps drive this strategy?

Category: Strategic Management Paper Type: Online Exam | Quiz | Test Reference: APA Words: 500

In order to ensure that the corporate culture helps drive the business strategy, the management needs to consider as given:

·         To facilitate the open and easy flow of the communication between the business entities. It may include the employees, customers, suppliers, shareholders, higher management authorities etc. It tends to direct the employees towards achieving the uniform goals and objectives.

·         To ensure that the unified organizational goals and objectives exist across the organization.

·         To make sure that a shared vision & the clear mission exists for the organization. It will make the employees to put their efforts for achieving the common business objectives.

·         Help reduce the politics within the business environment.

  • A strong corporate culture of respect among employees, creating enhanced mutual trust and cooperation across the business.

·         To achieve the business goals successfully in formal business settings. It can better be done by streamlining the business operations.

·          To provide the business with the shared understanding regarding a particular matter.

Ethics, social responsibility, and sustainability

The corporate ethics help the company in getting the appropriate guidelines for the business policies, procedures as well as the practices. In broader terms it helps the organization for getting the guidelines related to the corporate governance, discrimination, bribery, fiduciary responsibilities, insider trading, and corporate social responsibility etc. There exist the laws for the said purposes, but the business ethics are if defined, as per the nature of the business, they can provide the best solutions to the pertaining solutions.

            As far as the corporate social responsibility is concerned it is intended to provide the maximum shareholder value. Also, this parameter is to make sure that the organizational operations are aimed at providing the benefits to the society. The more an organization cares for the environment, the more it becomes valuable for the people of the society. From making investment to delivery of the product/service, the organization is liable to provide the benefits to the society.

Under the head of sustainability, the business organizations take into consideration the coordination as well as the management of the social, environmental and financial demands & concerns. The main aim behind it is to provide the surety for the ethical, responsible and ongoing success of the organization (Krishna, 2011).

Conclusion of Corporate Culture  

            Corporate culture is as mandatory for the organization as the business processes itself. The corporate strategies, marketing practices, products and even the innovative ideas can be copied. But the corporate culture and the ethics are the ones that better serve as the basis for differentiating a company from its competitors. The stronger the corporate culture is, the more beneficial it is for the organization to get the increased market share.

References of What does management need to do to ensure that the corporate culture helps drive this strategy?

Felin, T. &. (2016). Designing Organizations for Dynamic Capabilities. ResearchGate, 58(4), 78-96.

Krishna, A. &. (2011). Business Ethics: A Sustainability Approach. Social and Behavioral Sciences, 25, 281–286.

Morcos, M. (2018). Organizational Culture: Definitions and Trends. Science Direct, 1-8.

 

 

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