Mngt 5000 Final

3691 Words15 Pages
1. Explain why ethics are an integral component of the manager’s toolbox in the 21st century. (5 Points) Ethics are integral in the 21st century due to the evolution of business, technology, and government oversight. There is a legal responsibility to do what is right by the customer – if you produce a product knowing that there is a high risk of harm to the consumer, you will be eventually be found out, prosecuted, and held liable. Organizations have put a high priority on ethics, which can be hard to balance in the highly competitive business world. But with the advancements in technology and social media, consumers are highly aware of how an organization behaves – and this information travels the world quickly. There is little…show more content…
The program typically has legal standards for compliance, auditing, reporting criminal misconduct, steps to prevent offenses, and punishment for offenses. This can include termination from the company, which is a strong player in preventing offenses from occurring. 3 A) Discuss/ explain where companies get their culture from. The founders of the company establish culture – when it is started the goals, values, and mission of the company are typically memorialized in a mission statement/vision statement. The tone is set by the founders and passed down to their employees. The founders must lead by example. Over time, the culture can change or adapt. This may be due to new leadership, mergers, or acquisitions. It may even be due to a change in the market climate itself. As new employees are brought on, they must be taught the company culture to keep it strong and in line with the overall company umbrella. Most large companies have established culture programs for their leadership, so that they may take those tools, thought processes, and examples back to their teams to keep the culture strong. B) How does corporate culture influence mission, vision, ethics, metrics, collaboration. (10 Points) Corporate culture influences everyday employee actions – it’s how they interact with customers, each other, and make decisions. If the company culture does not align with the mission statement, it can create an identity crisis of sorts.
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