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Strategic Management and Business Policy, Global Strategic Management Wallace Group

Strategic Management and Business Policy, Global Strategic Management Wallace Group The Wallace Group is in need of a Board ofDirectors for their corporation. The board of directors hasan obligation to approve all decision that might affect thelong run performance of the corporation. Harold Wallacehas acted as a one man board of director, making all finaldecisions for the Wallace Group. The board of director'sresponsibilities is setting corporate strategy, overalldirection, mission, or vision. Hiring and firing the CEO andtop management. Controlling, monitoring, or supervisingtop management. Reviewing and approving the use ofresources and caring for shareholder interests. (Wheelen Hunger)The next important problem that the Wallace Groupis facing is the fact that they have never created orimplemented a strategic management. The role of the boardof directors in strategic management is to carry out threebasic tasks. The first if to monitor, by acting through itscommittees and to pay attention to developments inside andoutside the corporation and bringing these to the a ttentionof management.Wallace J. NicholsThe next would be to evaluate andinfluence management proposal, decisions, and actions;give advice and offer suggestions. The final is to initiateand determine, a board can delineate a corporation'smission and specific strategy.Strategic management is a technique you can use tocreate a favorable future and help your organization toprosper. To create this favorable future, you must involveyour organization's stakeholders (anyone with a vestedinterest in achieving your organization's goal) inenvisioning the most desirable future and then in workingtogether to make this vision a reality. The key to strategicmanagement is to understand that people communicatingand working together will create this future, not somewords written down on paper.Strategic management does not replace traditionalmanagement activities such as budgeting, planning,monitoring, marketing, reporting, and...

Ethics Essay Example | Topics and Well Written Essays - 1250 words

Ethics - Essay Example When decisions are made that result in the right consequences, then that is ethical; when decisions are made which result in the wrong consequences, then that is acting corruptly (Pollock, 2011). The term deontology draws from the Greek speech for duty and science of logos. In contemporary ethical viewpoint, deontology is one of those types of normative theories concerning which decisions are ethically required, prohibited, or permitted. In other terms, deontology descends within the sphere of moral premises that lead and review our decisions of what we must do (deontic hypotheses), in distinction to aretaic virtue theories) that at least show and assess what type of person we are and must be and within that sphere, deontologists those who pledge to deontological hypotheses of morality stand contrary to consequentialists. There are several inherent problems with using one or the other types of ethics in the sense that each type of ethics focuses on different parameters as a way of de termining ethical standard. Whereas the Teleological ethical systems focuses on the outcomes of consequences of decisions in determining whether they are ethical or not, deontological ethics, on the other hand, focus on the aspect of ethical requirements regarding what should be done and what should not be done. Therefore, the two ethical systems are different in application owing to their ethical bases and orientations. 2. What are some types of conduct that may be legal, but unethical? Advertising claims that will mislead people into buying a product or believing something about the product which is true is unethical though there are no legal constraints over such behavior (Samuelson & Beatty, 2010). In essence, marketing and advertising are areas which are legally recognized though their activities border on immoral actions, which compromise the values of business. Through marketing, the customer is made to believe certain things about the product that may not be true; that is le gal but immoral. The act of betraying a trusted companion or colleague is not illegal yet unethical in the sense that it goes against the values of fairness and human dignity. Basically, betrayal is not outlawed, and the law finds no offense in such acts yet on the practical basis betrayal is inherently immoral and unacceptable as behavior and goes against values. Through betrayal, a person creates unnecessary agony and suffering to the other person or people and violates their right to dignity among other rights making the act unethical. Engaging a competitor or partner in lengthy negotiations regarding a merger or joint venture when in reality there are no plans of doing so or simply for the sake of collecting information is unethical. Such conduct is unethical because it does not augur well with the other party and is aimed at collecting information to be used against the other partner in a competitive manner. However, such actions are perfectly legal and recognized by law as not being against the established statutes. 3. The American model of judicial selection vs. the civil law model of judicial selection. What are some ethical issues that may impact one system or the other, or both systems, for judicial selection or appointment? There are some ethical issues that may impact one system or the other, or both systems, for judicial selection or appointment (the American model of judicial selection and the civil law mod