Question

Compare and contrast strategic controls and financial controls. Provide specific examples of how each may be used to best serve a corporation. As a strategic leader, determine if you would feel ethically responsible for developing your firm’s human capital and state why. Discuss whether or not you believe your position is consistent with the majority or minority of today’s strategic leaders.

Answer 1

Strategic control is the criteria intended to check if the firm is using appropriate strategies to put
them in a competitive advantage. A financial control is the criteria used to measure the firm performance against previous outcomes as well as against competitors’ performance and industry averages. Common ratios to use in financial control are return on assets and return on equity. An example of strategic control would be if a company wanted to start a new line to go under their current umbrella they would first have to brainstorm a plan of action that is strategic and makes great business sense and is important to the growth of the company. An example of financial control is for a company to be able to go back in past times and view the finances of the company and its competitors.

I believe that a strategic leader would be smart and wise in their leadership capabilities. The leader should know many things about the company and how their financial and legal rights of their position. By being a great leader that person will have many followers those followers will soon follow that leader no matter what action or decision he/she may take. I believe that now andday’s ethics is more important than ever before in any industry because it is extremely hard for people to follow an unethical leader and that can ultimately bring down the company in the long run.

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