Why respect is so important in today’s society and what exactly is respect? Respect is a combination of appreciation‚ admiration as well as recognition of a person being worth something‚ or having earned a position because of their achievements. It could feel at times vague to some people‚ but most people understand and act with respect. In our modern world respect is sometimes confused with fear. For instance‚ Gangs‚ they kill and they fight to earn respect from others but what they actually receive
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(a) Define stakeholders. Describe some potential organizational stakeholders and why are stakeholders important? (6mrks) Stakeholders are individuals or groups that have a stake in‚ or are influenced by the organization’s decisions and actions. They can‚ in turn‚ influence the organization’s actions‚ objectives and policies. The lecture cited examples of potential organizational stakeholders are shareholders (owners)‚ customers‚ employees‚ suppliers‚ trade associates‚ political action groups‚
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Why is strategic management important to a corporation? For many years‚ businesses have been failing and this failure has been attributed to the inability of managers to strategically manage business processes and operations. As a result of these failures‚ more business managers are paying keen attention to strategic management because of its importance to the continuity of a business. Strategic management is a strategy that is focused on long-term planning within an organization that takes into
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the origins in the middle of last century (Spector‚ 2008 cited in Carroll and Shabana‚ 2010: 86)‚ Corporate Social Responsibility (CSR) has been becoming an increasingly influencing factor in corporate governance. KPMG (2008 cited in Du et al.‚ 2010: 13) indicates that the proportion of the 250 hugest enterprises in the world who annually release CSR reports has grown up from 50% in 2005 to 80% in 2008. Porter and Kramer (2006: 80) declare that CSR is more likely to be advantages such as ‘opportunity
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143 STRATEGIC MANAGEMENT IN TODAY’S COMPLEX WORLD Bilal Afsar Abstract With the development of economy‚ original pure rational strategic management could not adapt to the complex and ever-changing environment now. The world is changing and becoming more and more unpredictable with each passing day. A kind of irrational strategic management is emerging quietly. This passage introduces the development of irrational strategic management and its function in strategic management‚ and discusses
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Strategic Management: What Is Strategy and Why Is It Important? Module Lecturer: B. Sc.‚ ADCP‚ MIM (SL)‚ MBA Senior Lecturer/Consultant National Institute of Business Management Copyright © 2010 by The McGraw-Hill Companies‚ Inc. All rights reserved. Chapter Learning Objectives 1. Understand the role of business strategies in moving a company in the intended direction‚ growing its business‚ and improving its financial and market performance. 2. Develop an awareness of the four most
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American students lack the necessary skills needed for effective communication. It is contradictory that there are so many illiterate students in this current age that many define as ’the age of the information superhighway.’ <br> <br>It seems as though many of America’s students are unaware of the importance of communication and literacy. Clear and effective language use is a most important and practical utility; it is the vehicle we use to convey information. An ’information superhighway’ without vehicles
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well-being and also with the adversities resulting in trauma and other worse cases. This is why resilience is very important in today’s world because resiliency means being able to bounce back from life adversities. As resilient people have their lives disrupted they handle their feelings in healthy ways. They allow themselves to feel grief‚ anger‚ loss‚ and confusion when hurt and distressed‚ but they don’t let it become a permanent feeling state. An unexpected outcome is that they not only heal‚ they often
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Why do firms become multinational enterprises? Identify and discuss four reasons‚ making sure to incorporate examples into your answer. Name Institutional Affiliation Why do firms become multinational enterprises? Identify and discuss four reasons‚ making sure to incorporate examples into your answer. Multinationals are corporations which operate in at least two countries but whose management is established in one specific country. They have their operations in at least one other country different
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society and lower its negative impacts. 3. Why has ethics become so important in business?Ethics has become so important in business because it builds trust among individuals and in business relationships‚ which leads the company and its employees in a comfortable environment. This also helps the business to have confidence that their employees are happy in their work area.
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