Question

What is the importance of ethics for organizational strategists? Discuss the sequence of acting in an unethical way by entering invalid input to formulate strategies in organizations

Answer 1

The importance of ethics for organizational strategists:

1. Organizational strategists are individuals who are involved in formulating and implementing strategies in organizations.

2. Ethics typically means a set of values followed by a group of people working in an organization or society which includes activities that are correct or wrong, general beliefs, laws. In general ethical factors are fairness, trustworthy, respect and responsibility etc

3. A fair process with ethics should be included while framing strategies in order to avoid subjectivity and biased decisions for the strategy to be a success.

4. The strategy involves all aspects of management like planning, organizing, controlling and implementing and this has impact on the growth and development of the organization and hence it being ethical is a must to earn goodwill

5. Effective ethical strategies should be framed and implemented in order to lessen the threat of competition and ensure the company to sustain in the market.

Discuss the sequence of acting in an unethical way by entering invalid input to formulate strategies in organizations:

1. Inorder to create an effective corporate strategy, the first step is to know the purpose or objective of the business and it's reason for existence. When wrong invalid inputs are used it leads to creation of wrong Vision, Mission, organizational goals etc which leads to major disaster of any business.

2. One of the primary factors of framing strategy is to increase profitability on year on year basis. But when wrong or invalid inputs are fed this strategy take a toll which may lead to even the shutdown of the business.

3. One way to increase revenue is to beat competition and hence strategies are framed carefully keeping in the mind the major competitors in the market. When wrong competitor information’s are fed it leads to the inefficiency in beating competition

4. Another major strategy is to build the Organisation structure according to the kind of business in order to execute the planned work which would not go right when wrong inputs are fed.

5. A corporate strategy in order to be successful has to be effectively communicated and in turn taken feedback for improvements, from the employees and others related to the organisation. When inputs are itsef wrong, then there is no use of communication.