The above-mentioned components cover the internal and the external aspects of the business operations that are important for an organization while working in the competitive field.
Whenever an organization us thinking about taking the business international, there are a number of approaches that the business owner should keep in mind (Choudhary, Akhtar and Zaheer 2013). The approaches to select the place and enter into the market can be divided into three parts:
When the business owners takes into consideration the political, social and the financial centers present near the place and then extends the business then it can be called Polycentrism (Guenzi, Sajtos and Troilo 2016).
When the business owners takes into consideration the culture of the place and then extends the business then it can be called Ethnocentrism (Valmohammadi and Roshanzamir 2015).
When the business owners takes into consideration the geographical location of the place and then extends the business then it can be called Geocentrism (Miller 2016).
If an organization thinks of going international then Polycentrism would be the best approach. The geographical locations and the culture of the place will be important factors but with the advent of technology and the training of the employees, those things could be handled properly by the business owner (Parveen, Jaafar and Ainin 2015). However, the factors like the political, social and economic factors are something that would be taken special care of by the business owners. The entire business of the organization lies in the political, social and economic factors. If these conditions were not right, favorable geography or favorable culture would not come to any help of the business owner (Tseng and Lee 2014). If the political, social and economic factors are stable then the other factors can be automatically taken care of by the business owners (Verrier et al. 2014).
Organizational structure is important for various reasons and the reasons are not limited to the internal factors (Shin and Konrad 2014). Organizational design helps in understanding the stability of the organization. Once the organization will be able to the design itself properly, the functions will be more concrete (Litwin and Eaton 2016). The roles will be defined properly. The decision-making process becomes easier once the organizational design is clearly communicated to the employees. Centralization supports the decision-making should be done by an authority (Buoziute-Rafanaviciene, Pudziene and Turauskas 2015). On the contrary, when the employees along with the leader are taking the decision then the decision-making process is said to be decentralized (Awadh and Alyahya 2013). The organizational design also helps in deciding the business context of the workplace. The way the organization is designed help in understanding the way they will deal with the business in the external market (Demirbag et al. 2014). The business and the profit of the organization will depend on the design, as the employees will know their roles clearly while handling the business (Felício, Gonçalves and da Conceição Gonçalves 2013). They will know the way to handle the stakeholders and the competitors.
The information that has been outlined in the video is that it not only talks about the organizational structure but also talks about the team structure. At times, the way a term is structured, gives an idea about the way the organization will be designed. If the team is structured and designed properly, the team will look after them and half of the job of the supervisor will be reduced. The teams can be said to be the central building blocks of an organization. Hence, it can be said that if the team performs well then the entire organization will perform well in the market.
The factors that are highlighted in the forcefield analysis that can enhance or prevent the change in an organization (Senff et al. 2016).
Forces for the change are:
Forces that will stop the change are:
The issues that could be established in the organization are the changes in the demand of the customers (Fonti and Maoret 2015). The demands from the customers are ever changing and ever rising. Whenever, a product gets old, the customers are looking for new products that will fill up the space (Hyland, Lee and Mills 2015). Hence, change is always welcomed in the organization based on the demands from the customers.
The forces that stop the changes in the organizations are the available finances in the organization (Audia, Brion and Greve 2015). The cost structures of the raw materials are also changing. At times, it becomes difficult for the organization to keep a check in the cost of the raw material and then decide the cost of the final product(Borman and Motowidlo 2014). They have to compete with the competitors present in the market and hence, cost becomes a huge factor whenever there is any change.
In the article, ‘Is There a Market for Virtue? The Business Case for Corporate Social Responsibility’, the author argues that there is no correlation between social and financial performance. Accordingto the author, of the corporate social responsibility helped in enhancing the profit then there would have been hardly any organization that would have been running in loss. In addition to this, the profit that they would have gained from CSR would have helped them to act even more responsibly. The investment funds, which are socially responsible do not perform any better than the funds that are not.
It might be true that the corporate social responsibility is not related to profit but it helps in enhancing the business indirectly (Hodge and Rainey 2014). Corporate social responsibility help in building the social recognition. The name of the organization is being known in the market with the help of the action that they take up while fulfilling their corporate social responsibility (Park and Shaw 2013). Once they will get the recognition in the market, the clients and the customers will automatically get attracted to the organization and in turn helping in enhancing the business of the organization (Noruzy et al. 2013). Thus, there is a chance that socially responsible business will help in garnering profit but in an indirect manner.
The CEO has a major role to play in supporting the corporate social responsibility of an organization. When a CEO is experienced then the chances of having a strong corporate social performance rise. It has been also found that if any of the CEOs is female then also the corporate social performance will be enhanced. It is necessary to have an emotional side of the person so that he or she would be able to understand the issues that the society is facing and bring in the changes accordingly. Hence, a female CEO would be more effective in handling the corporate social performance of an organization.
For an organization, it is necessary to have a CEO who has been through the issues and have known to support the corporate social responsibility (Chen et al. 2014). The person needs to be patience with the changes in the society sans implement the actions accordingly. In addition to this, the persion needs to have an idea about the laws and regulations based on which the steps will be taken tp look after the society. At times, there are certain laws that should be taken into account while a person is working on the social field (Birasnav 2014). The initiative as well as the knowledge of the CEO will be helpful while carrying out the corporate social responsibility (Wu, Straub and Liang 2015).
The confirmation bias is something is mostly heard in the organizations (Choudhary, Akhtar and Zaheer 2013). When an individual likes any kind of solution, he or she seeks only those information that will help in confirming only that solution. The individual is not supporting other things or suggestions
The anchoring bias is something that is not seen in ample in the organizations. In this kind of biasness, the managers relate the past events to something that might happen in the future. This type of biasness is seldom seen as the managers mainly look into the current conditions to make a decision for the future. If any manage is concentrating on the past then the future of the business will be in danger
It has been seen that confirmation biasness happens in the organization when a person in the senior position and feels that something is correct (Guenzi, Sajtos and Troilo 2016). He or she mainly directs the discussion in such a manner that the incorrect thing looks to be correct. It has many negative impacts like wrong decision-making in the organization and loss in business. Moreover, the junior employees are misled, as they would not know the exact way to take a decision in the organization (Valmohammadi and Roshanzamir 2015).
The role of a communicator is the most preferred team roles. Communicator should have the power to connect to all types of the employees in the organization (Miller 2016). The role of a communicator helps in understanding different types of mentalities present among the employees (Parveen, Jaafar and Ainin 2015). In the organization, it is helpful in the future as it will help in mixing with all types of co-workers.
Team profiles always have an application in business. other than the role that an employee is being hired, there are roles that may not reflect in the expertise but can be present in the individual (Tseng and Lee 2014). As a communicator, the person not only helps in making inter-group communications in an organization but also helps in making intra-group communication. It is mainly helpful when an organization is working in the international platform. The employees might not be able to communicate properly among each other (Verrier et al. 2014). In such a situation, the communicator helps in processing the messages among the employees.
Other than doing the assigned job in the organization, the profiling approach will help the employees gain another side of the expertise (Shin and Konrad 2014). Depending on the capacity of the team member, profiling can be done. It will help in enhancement of the skills of an employee, which he or she might be unaware of. It will also help help in further development of the employee as a whole.
For a team to be successful, there are certain features that should be applicable:
A team should be creative and productive. The teams should work together and help each other in innovating new things. Working together and helping in each other is the most important part of team is that it helps in bringing the best and the most out of a team. Production of many as a whole will be much better than the production by one member (Litwin and Eaton 2016). The members should be able to work together and help in enhancing the production as whole.
The features could be applied in a team by making the members understand that working in a team will yield better results. Task that will require more than one expertise should be assigned to them. In this way, the employees will be able to understand that teamwork will be help them in getting better result. When more than one expertise will be required to carry out a job, it will be helpful for the team leaders to make the employees understand the importance of working in team. In addition to this, if more than one type of expert will be present in a team, then the team will be more creative than any normal team.
The five dysfunctions that have been identified in the executive team are:
As a CEO, the first job is to enhance team coordination. Teamwork is the best way to make the employees avoid any kind of dysfunctions. Some of the fun elements can help in enhancing the team performance and the CEO should ask the team leaders to engage in such activities so that the employees will be able to interact more (Demirbag et al. 2014). Tasks that would require team help would be promoted so that they understand the importance of teamwork.
The idea that the leaders have a good problem solving capacity and should be able to maintain a proper relationship with other individuals seemed to be the most noticeable aspect for leader (Buoziute-Rafanaviciene, Pudziene and Turauskas 2015).
While developing oneself as a leader, the person should be able to develop the idea of learning while developing the career. A person would be able to learn once the person is open to changes and ready to experience new things. while developing oneself as a leader, the person should not stop learning, even if the person is handling other people in an organization, it is the constant learning process that will help them to stand out in the crown. The leader would not then have to think about individual success. The learning will help the person to know new things and inviolate ways to do a job. The person can then transfer the learning process to the people who are working under him or her. The knowledge of the leader will be transferred to the employees who are working. As a result, the organization will be able to progress in the right direction. The success of the organization will in turn help in making the leader successful.
The authors of the article have argued that the transformational leadership might not be entirely for the benefits the employees. The components of the transformational leadership have been compared with the moral character of leader. The idea of ethics has embed on the leader and the ethical choices made by the leader. The characteristics of a transformational leader has been related to the western ethical agenda. The ethics that have been taken into account are striving for congruence in values, trust, utility, cooperative actions, liberty, persuasion and so on.
The leaders have to look into a number of aspects while they are managing the employees. The leaders have to think about self-growth while they are thinking about the growth of the employees. It is possible for the leader be ethical, authentic and effective at the same time once the person has set the things right (Awadh and Alyahya 2013). The success of the leader lies on the fact that the person should be able to grow as a person along with the success of the employees who are working under the leader. A leader can be called a leader in true sense only when the person will follow ethical steps to carry out the work.
References
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