As things come together a good strategy plan ultimately will lead to name recognition for your company and a distinctive edge or advantage over the competition. Ideally, this is what you look for as a business. You want something that sets you apart from others competing within your market. A competitive advantage is important because it creates a loyal following of consumers, which leads to more revenue for the
Having an excellent customer service will motivate the organization’s employees. This will result in a win-win situation because a happy employee is a productive employee. When a motivated employee helps customers he/she will ensure that the customers are satisfied in a way that exceeds their expectations. These customers will then go out in to the public and share their experience with friends who will eventually patronize the business. In the long run the business gains more customers and increases its profits.
Employees chose to stay with a company they feel cares about them and allow them to be a part of the business process. The company takes own positivity and empowerment of their employees, which change the dynamics of the environment (culture). This positive contagious atmosphere will increase the output of production and provide a retention of customers. According to Coetzer, Bussin, & Geldenhuy (2017), servant leadership positively influence, individuals, teams and organizations (p.10). The retention alone will increase the bottom-line and increase the customers loyalty to the company.
Leading a team to achieve a goal provides a satisfaction knowing that others have been empowered and in doing so, authentic leadership has been fulfilled. Impact of transformational leadership in the organisation According to Pearson (2012), transformational leadership “ushers in radically positive possibilities so needed today to release the potential within situations and people, including the leader”. To be a transformational leader, you must have: • charisma which will encourage employees to follow your vision, act with conviction, have clear values which are demonstrated, be a role model and a leader who can be trusted; • inspirational and can articulate the vision of the organisation with precision and in a persuasive
Question 1: Explain the importance of ethics and values in business sustainability. What is ethics? Ethics is the study of discipline about morals duties and the requirements of making decision about what is right and wrong in the organization. Looks at in-depth characteristics of our moral and the way we make decision, treat others in the society. Deals with the truth and law, with interest of how we behave in society, corporate behavior and carrying of social responsibility.
When explaining the importance of ethics and values in the sustainability of a business organisation I would like start to by exploring the definition of ethics and values. By understanding these definitions this will allow us to understand the significance of these two elements in sustainability of a business organisation and how they bring about or contribute towards the sustainability. I will also briefly discuss what sustainability is. A business organisation is made up of employees and stakeholders individuals who are different in many ways. Too my understanding ethics are those moral principle that govern or influence the behaviour of individuals so then values would be your own attitude towards a thing.
Therefore a positive and effective PM system has positive outcomes to the organisation. Alsoton & Barbara (2008) mentions that such outcomes include satisfied and productive employees, increases profit and makes the organisation competitive in the market. Prerequisites being in place, the mission of the organisation, its goals and job in question being clear and concrete, gives employees knowledge and overview about the organisation (Aguinis 2012). Having good information about the job helps in performance planning where certain criteria can be established for job success (Mclaughlin, 2007). At the beginning of the planning process, both manager and employee meet to enable congruency in what needs to be accomplished and the reason for it to be accomplished.
Leaders considering ethical values in their decisions should keep in their minds the safety for their employee and not harming the environment. For the employees that their duties are associated with risk leaders should provide them with the tool and equipment necessary to reduce that risk. However, leaders should focus on minimizing each type of risk related to their business. Nowadays, since business ethics give the organization extra benefit among competitor, it become from the priority that CEOs of many organization keeps it in their minds when creating the strategies. A Corporate Social Responsibility (CSR) can be used as a tool to support ethics thus organizations use it in order to increase trust, value and care among the stakeholders.
The multifaceted tool that is empowerment is an abstract but endlessly effective method to improving employee-employer relationships, lessening the stress level within the workplace, and increasing consumer satisfaction. By simply placing instilling a greater sense of trust within employees and communicating with all levels, information networks will open within a company and ideas will flow freely. The ability to motivate employees and give them satisfaction is invaluable to a company and should never be overlooked.
In an ever changing business environment it is essential to understand the concepts of Ethics and Values and how they can be important factors that need to be co-operated and practiced within a business organization. Below is a discussion on how values and ethical behaviour can be in cooperated in business objectives and goals. According to the English Oxford Dictionary Ethics is defined as moral principles that govern a person’s behaviour or the conductor of an activity. It is also knowing what is right and wrong and taking the correct measures or steps to rectify any wrongdoings. The Business Dictionary.Com further explains this concept as, fundamental principles of decent human conduct.