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Impact of modern technology in present days
Impact of modern tech
Ethical behaviour in management
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Challenges of management in the 21st century In the 21st century they consist of various barriers that prevent managers and leaders from achieving their goals and improving their organizations work. Managers constantly try tackle this issues that drive towards lowering productivity. Challenges of management include : • Technology • Ethics • Globalization • Competition • Diversity • PESTEL Technology. Keeping up with technology is difficult, tiresome, and firms find it very costly to keep at pace with it. Technology rapidly and constantly keeps on changing. Being at par technologically requires extensive research and strategic analysis of acquiring new innovation. Enforcing new technology requires staff retraining and in some cases making employees redundant. Managers should take note of the value in inquiry, development, and forecasting future technological innovations in order to keep ahead of their competition. Managers must understand how to achieve efficiency internally through applying new technology to operational processes. Managing new technology requires a thorough understanding of business technology management. Ethics Ethics is simply doing the right thing. In the business situation ethics are the moral concept of a firm getting through it organizational duties ethically. Business nowadays encounter with a lot of moral challenges in today’s global economy. Everyone is thriving to be more successful than their competitors, to make their next profits, to keep their job, to earn a big bonus, or to compete effectively. There exists temptation to bend lines, omit information, and do whatever it takes to get ahead of their competition. Many business employees and executives succumb. Sadly, the theme becomes... ... middle of paper ... ...ultures. Examples of sociocultural factors include culture, language, religion, values, attitudes, social organizations. Technological factors include being able to keep up technologically in the market. A manager has to be able to look at what kind of technology their firms are using. They need to be able to be better than their competitors. This furthermore leads to research and development to see the current trends. This is costly. Environmental factors cater for the protection of the environment. A business must carefully be able to look at its surroundings to see for benefits and ensure that its daily production does not interfere with society. Legal factors involve the laws that a firm has to abide by, i.e consumer laws, employee laws…Understanding the varying laws and regulations in a given region of operation is critical to avoiding unnecessary legal costs.
To meet the company focus of being the industry leader in R&D, there must be a commitment by management to stay ahead of the curve in technology for R&D.
A great deal of information was covered this week such as, the necessity in which businesses need to effectively plan and set objectives, the strategies utilized and how they are executed to obtains results, and how managements decisions can potentially affect those results. Although each topic covered was found to be interesting and informational, there was something in particular that struck a chord, which was how business establishments have to be flexible and adaptable and in many instances plan and change their strategies of today, in order to keep up with the evolving technology of tomorrow. Something that one often thinks about is how individuals use technology today and how companies that provide that technology are adapting. For instance, author Richard Daft of the textbook, Management, 12th ed. brings to light the potential issues that Intel is facing explaining “As another example of an external threat, Intel, whose microprocessors power most PCs, is being hurt by the decline in demand for personal computers as more people turn to tablets and smartphones.” (Daft, 2016, pg. 259). After reading this, one wanted to take a deep look into what it is exactly that Intel intends to do to overcome this obstacle and found some
Of the many possible ethical dilemmas that people could face in the business world, the article: “The ‘Do Whatever It Takes’ Attitude Gone Wrong” portrays particular ethical situations in todays business world that are very common: poor social responsibility and its negative effects. Social responsibility is considering what affects business decisions and products have on society. The article reveals what goes on behind the scenes at a business in terms of poor ethical decision making and how often it occurs. It mainly focuses on how business decisions are made without consideration
...hreat the possess. Companies should also pay attention to the changes that occur in each particular industry. For example, the innovations in technology. Because when making long term investments, the company should make sure that they can financially adapt to the changing situations.
The business world holds high expectations regarding what is ethical and what isn’t. Ethical behavior is behavior that a person considers to be not only appropriate, but also credible. When we are born, it is our parent’s responsibility to raise us in a way that teaches right from wrong. However, life becomes different when we are able to think for ourselves because then it becomes our own responsibility to decipher between right and wrong and this is when our moral principals begin to shape. As our moral principles continue to develop it can, at times, be severely affected by the people we associate with. There are many things that can influence how a person views the difference between right and wrong; family, life experiences, culture, and religious beliefs are just a few examples.
Ethics is a social, religious, or civil code of behavior considered appropriate, especially that of a specific group, profession, or individual. Business ethics is the analyzation of moral and social accountability in reference to procedures and the making of decisions in a company (Merriam, 2015). While every individual has their own value system in regards to ethics, there is a type
Environmental – External environmental factors are forces or trends that can affect a business whether it is an opportunity, threat, or constraint. They can be divided into three interrelated subcategories of remote, industry, and operating environments. The remote environment includes factors beyond a company’s operating situation such as the economic, social, political, technological, and ecological factors. The industry environment includes factors that have more of a direct influence on a company’s business such as entry barriers, competitor rivalry, the availability of substitutes, and the bargaining power of buyers and suppliers.
By definition, ethics refers to "a set of principles of right conduct." It is also defined as "the rules or standards governing the conduct of a person or the members of a profession," (www.thefreedictionary.com) and in business may be considered the standards governing the conduct of people in the business environment. Business ethics is the behavior that a business adheres to in its daily dealings with the world. It relies on values as a way of guiding behaviour in business.
of a firm to attain new forms of competitive advantage (Müller, 2011). It is due to these
Ethical behavior among businesses can be enhanced when there are conferences between CEO’s of the organization and their employees talking about the standards of the organization. One way to find out if there is an understanding of ethical behavior is to ask employees if they understand the core values that make up the business. If they do not know them employees may unknowingly be practicing unethical behaviors that the company may not tolerate (2007, Nov 9).
Organizations and individuals have to strategically position themselves in order to take advantage of the growing technology and achieve business competitive advantage while at it (DeHaven 2010 pg 1). Technology has enabled globalization; where ideas, products and services have been shared. This has promoted foreign businesses thus helping different economies all across the globe. Different organizations and individuals have realized that technology will keep growing and changing and the best strategy will be to adapt it other than holding to rigid ways of doin...
As society grows and evolves, technological advancements and innovations continue to develop and consistently change different aspects of our society. For an organization, understanding how to manage these innovations is essential for their proper utilization and implementation. With technological advancements and innovations constantly emerging, it is important for an organization to stay aware of which new technological innovations can help them be successful. Organizations are always looking to set themselves apart from competition through innovation.
Analysis of the external environment is very important for the development strategy of the organization and a very complex process requiring a process tracking and assessment factors and also the establishment of links between those factors and the strengths and weaknesses as well as opportunities and threats. External environment has its complexity and uncertainty. It is obvious that without knowing the environment the organization can not exist. The organization studies the environment in order to secure a successful progress towards its goals.
Ethics are moral principles or values that govern the conduct of an individual or a group.It is not a burden to bear, but a prudent and effective guide which furthers life and success. Ethics are important not only in business but in academics and society as well because it is an essential part of the foundation on which a civilized society is built.
Ethics is the study of right or wrong and the morality of the choices that individuals make. That basicly means the set of morals or responsibility that a person, group, or field have. Ethics can also be classified as code of morals. In business there are ethics that portray to business. These are called business ethics, business ethics just happen to be the application of ethics, morals, into the business field. Some examples of business ethics are obeying all rules and regulations even when nobody 's looking, which is pretty self explanatory, you shouldn’t be breaking rules. Even if it is as simple as washing your hands after you use the restroom or straight up lying to your customers, they are the ones making you money so if they find out