Discuss the impact of the company’s values in shaping management practices generally in the business.
Please use my guide and include references.
Evaluate the impact of vision, values and culture on your organisation’s management practices.
a. Command word is Evaluate: which suggest to discuss, assess and have an informed critical judgement and position on the topic.
b. Word count: 1000 words.
c. Topic: Company’s vision, values and culture.
d. Use 2-3 suitable sub headings for this question eg. 1.1, 1.2 etc.
Paragraph 1 (Use a suitable heading, use 2 citations, 150 words)
• Introduce the term vision and how it influences management practices achieving business goals – use a citation
• Introduce the term values and how they influence management practices toward achieving business goals – use a citation
• Define the term organizational culture and how it influences management practices toward achieving business goals.
• Make a judgement on how your company’ visions, values and culture impact its management practices. Use evidence to justify your judgement.
• Outline some of the ways your company’ visions, values and culture impact its management practices.
o Vision impact management practices by:
By setting long term and short term goals
Sets clear purpose and identity for the business
Determine attitude towards with change and uncertainty in the environment
Having a strong company vision is a key trait of transformational leaders
Vision helps determines work tasks, what the business will do and will not do; sets a tone for employees
o Company values impact management practices by:
Guides employees on how to do their job and interact with customers
Hiring staff who shares the company values
Rewarding staff who shares the company values
Selecting vendors or suppliers who share the company values
Guide management actions on donations and acts of corporate social responsibility
Implements company’s mission on a daily basis
o Culture influences the following management functions and practices:
Determines the leadership style eg. Autocratic, Democratic, Transformational
Communication between management and staff and even TUs eg. cordial or antagonistic, collaborative in the company interests
Attitudes towards customers eg. customer driven mindset to satisfy clients’ needs versus vendor driven mindset focusing on the sellers needs
Approach to rewarding staff eg. focus on staff needs from the job through monetary and non-monetary rewards or treating staff as an expense of production.
Management actions towards dealing with change and unambiguity in the marketplace eg. fearful of market changes or embraces markets changes for company survival.
• Outline the purpose of this section which is to assess how your company’s vision, values and culture influences and impacts its management practices.
Paragraph 2 (200 words, 2 citations, discussion on vision)
• Introduce that your company’s vision influences management actions – citation.
• Explain 3 principles below of how your company’s vision influences the use of management practices. Consider these principles:
o It requires management to model behaviours which implement the vision
o The company’s vision helps managers to set long term goals to achieve the vision eg. to become a market leader, to develop innovative products etc.
o Leaders engage employees, satisfies customers, develop new products and engage suppliers in ways which satisfy its vision.
o Helps managers create an identity/rationale for the business
o Helps managers to implement agile practices to adapt to the environmental changes.
• Use 2 examples to illustrate any of the above principles. For example, if your company’s vision is to refresh the world with beverages, management may seek to create refreshing beverages which appeals to consumers, buy similar brands, engage in market research to determine customer needs and buying patterns.
• Discuss the impact of the company’s vision in shaping management practices generally in the business. Eg. outline how does the vision helps managers decide what to do and what not to do with customers, market, employees, suppliers, processes etc.
• Recommend how the company’s vision can further improve management practices to ensure the vision is realised in the company eg. training for managers on the company’s context, historical context and its vision going forward, identify result areas for employee engagement, customer satisfaction linked to the vision, link management actions which implement the vision, for example, through employees’ performance appraisals and rewards.
Paragraph 3 (200 words, 2 citations, discussion on values and its influence on management actions)
• Introduce that your company values (acceptable behaviours) impact management in using practices which align to the company values – use a citation.
• Explain how your company’s values influence the use of management practices in your company. Consider these principles to explain. Values:
o Guide managers on how to value staff for their skills, age, talents, culture etc. REGARDS
o Guide employees on how to treat customers toward satisfaction eg. customer service, empathy, following up.
o Guide managers on HR decisions such hiring and rewarding staff to share the company values
o Guide management actions on acts of corporate social responsibility (being ethical) to society
• Provide 2 examples of how these principles are carried out in your company – use a citation. For example, with values of honouring employee diversity, the management may hire staff of different ethnicities, age, demographics and disabilities to value their uniqueness, demonstrate inclusion and better serve the diverse customer base. Also, for company with values of quality products, managers may expect suppliers to deliver components with zero defect quality.
• Outline benefits of the examples to the company eg. hiring diversified staff motivates existing staff and attracts diversified customers.
• Discuss the impact of the company’s values in shaping management practices generally in the business. Eg. outline how does the company’s values helps managers decide what to do and what not to do with customers, market, employees, suppliers, processes etc.
• Recommend how the company’s values can further improve management practices to ensure the vision is realised eg. training for managers on the company’s values- managers may not have the behavourial competences, how to develop such values amongst lower level staff, appraise and reward managers for actions which reflect the company’s values, also ensure managers regularly communicate these values to staff eg verbally at every meeting, via intranets etc.
Paragraph 4 (200 words, 2 citations, discussion on culture – The work of Schein, 2016)
• Introduce that your company’s culture impacts management in using practices which align to the company’s culture- use a citation. Outline in what the company’s artefacts, values, beliefs influences management actions.
• Define organisational culture- citation (Schein, 2016). Culture is the collection of shared values, beliefs and traditions shared by both management and staff which determines the company’s approach to customers, work and treatment of one another. There are toxic, positive, task cultures and learning cultures amongst others, open cultures, rigid cultures.
• Explain how your company’s culture influences the use of management practices in your company. For example culture,
o Rigid toxic cultures use autocratic leadership whereas positive cultures use transformational leadership
o Communication and collaboration between management and staff and even TUs eg. cordial or antagonistic, collaborative in the company interests
o Attitudes towards customers eg. customer driven mindset to satisfy clients’ needs versus vendor driven mindset focusing on the sellers needs
o Approach to rewarding staff eg. focus on staff needs from the job through monetary and non-monetary rewards or treating staff as an expense of production.
o Management actions toward dealing with change and unambiguity in the marketplace eg. fearful of market changes or embraces market changes for company survival.
• Provide examples of how these principles are carried out in your company. For example, positive work cultures involves managers valuing staff’ opinions on company matters, staff being empowered to be creative, staff being recognised for their achievements, transparent policies for recruitment, pay, discipline etc.
• Outline one or two ways organisational culture can improve management practices in the company eg. management constant think of how to improve service to customers eg improve employee service, mobile apps, dedicated officers etc., research has shown positive cultures are linked to the economic success of companies – citation.
Paragraph 5 (100 words, conclusion)
• Summarise and reflect on the impact of your company’s vision, values and culture on its management practices eg. high level of impact, moderate level of impact, low level impact, more needs to done?
• Recommend strategies of how management practices can adhere to the company’s vision and culture eg. team building sessions with management and staff, historical insight on the company which determines how and why the company operates in the way it does at this time, sharing success stories of customers which epitomises the company’s culture.