What is the Purpose of This Activity?
The purpose of this activity is to provide a chance for students to think about and concepts surrounding introductory concepts in strategic management. Applying these concepts covered in class, students should be able to think critically about the questions posed below.
Post Requirements:
Provide an answer to each question below. Be sure to answer each question offering personal insight tied with concepts from the lesson as supporting facts. “I think” and “I feel” answers will not be sufficient.
1. After reviewing the definition of strategic management, and watching the video in the lesson, identify five concepts that stand out to you. Then, in your own words, provide your own definition of strategic management.
2. Using the Internet or library sources, select four organizations—two in the private sector and two in the public sector. Find their mission statements. Complete this prompt by identifying the stakeholders that are mentioned. Evaluate and outline the differences between firms in the private sector and those in the public sector. What implications stand out to you from this research? Include your sources.
3. Managers must consider the needs of the broader community at large and act in a socially responsible manner. Social responsibility is the expectation that businesses or individuals will strive to improve the overall welfare of society. One example is the increase of companies publicly advocating for social justice surrounding police brutality. The following excerpt summarizes some of the central points in the debate as to whether significant resources devoted to corporate social responsibility has value for an organization.
Example: Stakeholders Versus Shareholders
Although corporate social responsibility may appear to be an “apple-pie virtue,” it is quite controversial. Below are some of the chief arguments for and against it:
Proponents will claim that it…
BURNISHES A COMPANY’S REPUTATION. In the wake of corporate scandals, corporate social responsibility builds goodwill—and can pay off when scandals or regulatory scrutiny inevitably arise.
ATTRACTS TALENT. Many young professionals expect their employers to be active in social issues. Membership in Netimpact.org, a network of socially-conscious MBA graduates, jumped from 4,000 in 2002 to 10,000 in 2004.
On the other hand, Detractors will argue that it…
COSTS TOO MUCH. Giving by corporate foundations reached an all-time high of $3.6 billion last year. However, it can come at the expense of other priorities, such as research and development, and is rarely valued by Wall Street.
IS MISGUIDED. Many corporate executives believe, as economist Milton Friedman does, that the role of business is to generate profits for shareholders—not to spend others’ money for some perceived social benefit.
Source: Grow, B., Hamm, S. & Lee, Louise. 2005. The debate over doing good. Business Week, August 15: 76-78.
Think about what you have covered in the lesson after being briefly introduced to social responsibility. Also, consider companies you’ve worked for and their own resources dedicated to social responsibility.
Take the stance, taking alternative positions on this issue; are you more sided with the pros of social responsibility or the cons? Explain your preferred side on this issue, providing examples, personal and factual (research-based).
4. In this lesson, we also covered ambidexterity and the four most important traits of ambidextrous individuals. These include looking for opportunities beyond the description of one’s job, seeking out opportunities to collaborate with others, building internal networks, and multitasking.
Evaluate yourself along each of these criteria. List examples of how you have exhibited these traits in their employment histories. In areas you may need improvement, how could you pursue ambidextrous capabilities going forward?
Posting Instructions:
Under the discussion instructions, select “reply” to make a threaded reply. You will also be able to reply to your peers’ posts. Initial posts must be substantial, containing personal reflections as well as facts presented from research and the lesson. Once you make your initial post, you will then be able to see the rest of the threads from your peers. After making your initial post, you must respond to two of your classmates’ posts to receive credit for this activity. “I agree” or “I disagree” replies will not be counted as substantial, without significant examples of your stance.
