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RARTIS system for exam
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audience
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theories to use for the verb?
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skill
what is carrol’s social responsibility theory
Economic Responsibility: This is the foundational and most fundamental responsibility of a business. It involves making a profit and providing a return on investment to shareholders. In essence, a company’s primary duty is to be economically viable and profitable.
Legal Responsibility: In addition to fulfilling economic responsibilities, businesses must also comply with the laws and regulations of the societies in which they operate. This includes following the legal framework, which varies from one jurisdiction to another. Non-compliance can result in legal sanctions and fines.
Ethical Responsibility: Beyond economic and legal obligations, Carroll emphasizes that businesses should engage in ethical behavior. This involves conducting business in a way that is morally and ethically acceptable, even if it’s not legally mandated. Ethical responsibilities can encompass issues such as fair treatment of employees, ethical sourcing of materials, and environmental responsibility.
Philanthropic Responsibility: At the apex of Carroll’s pyramid is philanthropic responsibility. This represents voluntary actions taken by a company to contribute to society, often through charitable giving, community involvement, or other social initiatives. These activities are seen as the icing on the cake, going beyond what is required by economic, legal, and ethical obligations.
Carroll’s theory of social responsibility suggests that businesses should strive to fulfill all four of these responsibilities to be considered truly socially responsible. While the focus on philanthropic responsibilities is often what people associate with CSR, Carroll’s model emphasizes that economic, legal, and ethical responsibilities are foundational and must be addressed before engaging in philanthropic activities.
balanced scorecard
Financial Perspective: This perspective focuses on traditional financial measures like revenue, profit, return on investment, and cost efficiency. It helps organizations gauge their financial performance and profitability.
Customer Perspective: The customer perspective involves identifying the key factors that drive customer satisfaction and loyalty. It may include measures related to customer satisfaction, market share, and customer retention, among others.
Internal Process Perspective: This perspective looks at the internal processes and activities that are critical to delivering value to customers and achieving the organization’s financial goals. It involves identifying key processes, measuring their efficiency, and monitoring their effectiveness.
Learning and Growth Perspective: This perspective focuses on the organization’s capacity for learning, innovation, and employee development. It includes measures related to employee training, skills development, innovation, and organizational culture.
what is value chain
A value chain is a framework that breaks down a company’s operations into two categories:
Primary Activities: There are five primary activities in the value chain:
inbound logistics- recieving and storing inputs to the production process, like material handling, warehousing, stock control
operations-Operations are concerned with the production activities associated with turning inputs into their final form, outputs. Labour and machines, assembly, testing packaging
outbound logistics- finished goods warehousing, order processing, delivery,distribution, transport costs
marketing and service.
Support Activities: These indirectly support primary activities and include infrastructure, human resources, technology development, and procurement.
what is a supply chain
A supply chain is a network of organizations, individuals, resources, activities, and technology involved in the production, procurement, distribution, and delivery of products or services from the source (such as raw materials suppliers) to the end consumer. It encompasses all the stages and processes that transform raw materials into finished products and deliver them to customers.
Key components of a supply chain include:
Suppliers: The entities that provide the necessary raw materials, components, or services to the organization.
Manufacturers or Producers: These are the companies or entities that transform raw materials into finished products through manufacturing or production processes.
Distributors or Wholesalers: Intermediaries that help move products from manufacturers to retailers or other distribution points.
Retailers: Businesses that sell products directly to consumers or end-users.
Customers: The individuals or organizations that purchase and use the products or services.
Transportation and Logistics: The processes and infrastructure responsible for moving products from one point to another, including shipping, warehousing, and inventory management.
Information and Technology: The systems and tools used to manage and coordinate various aspects of the supply chain, including tracking, forecasting, and communication.
The primary goals of a supply chain are to ensure the efficient, cost-effective, and timely flow of goods and services while meeting customer demands and minimizing waste and costs. Effective supply chain management involves optimizing processes, managing inventory, maintaining strong relationships with suppliers and customers, and adapting to changing market conditions and customer needs.
Supply chains can vary greatly depending on the industry, the complexity of the products or services being delivered, and the geographic scope of operations. They play a crucial role in a company’s competitiveness and ability to meet customer expectations.
7 Ps
Product, Price, Place, and Promotion, people, process, physical evidence
what is lewin’s 3 stage model for change
Unfreeze: In this stage, the organization prepares for change by recognizing the need for change and creating a sense of urgency among employees and stakeholders. This often involves breaking down existing behaviors, structures, and processes that may be resistant to change. The goal is to make the current state of affairs uncomfortable or unsustainable, encouraging individuals to embrace change.
Change: The change stage is where the actual transformation takes place. It involves implementing new processes, structures, and behaviors that align with the desired changes. Communication and leadership play critical roles in guiding the organization through this transition. Employees need to understand the reasons for change, how it will affect them, and what is expected of them during this phase.
Refreeze: After the changes are implemented, the organization enters the refreeze stage, which focuses on stabilizing the new state of affairs. This stage aims to reinforce the new behaviors and make them part of the organizational culture. It involves establishing new norms, processes, and practices to ensure the changes become the new “normal.”
POPIT model for change
The POPIT model for change is a strategic framework used in change management. It provides a structured approach for planning and implementing change within an organization. The term “POPIT” stands for the five key elements of the model:
Purpose: This refers to defining the purpose and objectives of the change initiative. It involves clarifying why the change is necessary, what the organization aims to achieve through the change, and how it aligns with the overall strategic goals.
Outcomes: Outcomes focus on defining the expected results and benefits of the change. What are the specific, measurable outcomes that the organization expects to achieve as a result of the change? This stage involves setting clear performance indicators and metrics to evaluate the success of the change.
Processes: Processes encompass the methods and procedures required to execute the change successfully. This includes planning, resource allocation, timelines, and communication strategies. It’s about defining how the change will be implemented, step by step.
Individuals and Teams: In this stage, the model emphasizes the importance of people. It involves understanding how the change will impact individuals and teams within the organization. It includes considerations like training, support, and addressing potential resistance to change.
Technology: Technology refers to the tools, systems, and infrastructure that may be affected by the change. This element involves identifying the technological aspects of the change, ensuring that systems are adapted or upgraded as needed, and that technology aligns with the change objectives.
The POPIT model is a holistic approach to change management, acknowledging that successful change initiatives require more than just a focus on the technical or procedural aspects. It emphasizes the alignment of purpose, outcomes, processes, individuals and teams, and technology to ensure that change efforts are well-planned, executed effectively, and result in the desired benefits. This model helps organizations address both the strategic and human elements of change.
key concepts of corporate governance are
-fairness
-openness
-independence
-honesty
-responsibility
-accountability
-reputation
-judgement
-integrity
why is induction program required for directors
Ensures new directors understand the organization, its culture, and their roles.
Educates them on legal and ethical responsibilities.
Provides industry-specific knowledge.
Clarifies governance structure and expectations.
Educates on risk management and strategic alignment.
Facilitates network building and collaboration.
Instills corporate governance best practices.
Prepares for crisis management.
Enhances overall board effectiveness.
how is indunction program done for directors?
Assessing needs.
Customizing content.
Orientation session.
Education and training.
Mentoring and shadowing.
Attending board meetings.
Networking opportunities.
Crisis preparedness.
Feedback and evaluation.
Ongoing learning.
Documenting resources.
Periodic program review.
directors - further CPD
why?Evolving Roles: The roles and responsibilities of directors are continually evolving, driven by changes in regulations, governance practices, and business dynamics. Training helps directors stay current and effective.
Industry Knowledge: Directors from various backgrounds may not have industry-specific knowledge. Training helps them understand the sector in which the organization operates.
Technological Advancements: Directors need to be aware of emerging technologies and their impact on the organization. Training ensures they can make informed decisions regarding technology adoption.
Legal and Regulatory Changes: Keeping up with legal and regulatory changes is essential. Directors must understand compliance requirements and their implications.
Risk Management: Directors play a significant role in risk management. Training equips them to identify, assess, and mitigate risks effectively.
Board Dynamics: Training can help directors work effectively within the board’s dynamics, promote healthy discussions, and resolve conflicts.
further CPD, how?
Workshops and Seminars: Organizations can host workshops and seminars on relevant topics, inviting experts to provide insights and practical guidance.
Online Courses: E-learning platforms and online courses are accessible and flexible options for directors to acquire knowledge at their own pace.
Board Retreats: These events provide an opportunity for directors to focus on strategic planning, team building, and professional development.
Mentoring and Coaching: Experienced directors can mentor or coach new members, sharing insights and guidance.
External Consultants: Engaging external consultants or experts can provide a fresh perspective and specialized knowledge.
Case Studies and Simulation: Using real or simulated scenarios can help directors practice decision-making and problem-solving.
Regulatory and Industry Updates: Regularly providing directors with updates on regulatory changes, industry trends, and best practices keeps them informed.
Peer Learning: Encouraging directors to share experiences and learning with their peers can be valuable.
Board Evaluation: Conduct periodic evaluations of the board’s performance to identify areas for improvement and address training needs.
why do we evaluate board of directors
Accountability: Ensures directors fulfill their responsibilities.
Continuous Improvement: Identifies areas for enhancement.
Effectiveness: Measures the board’s ability to oversee and guide the organization.
Alignment with Strategy: Ensures board actions match strategic goals.
Transparency: Demonstrates commitment to accountability and openness.
Conflict Resolution: Addresses internal issues and conflicts.
Risk Management: Improves oversight to reduce governance failures.
Succession Planning: Informs recruitment of new directors.
Stakeholder Confidence: Boosts trust in leadership.
Regulatory Compliance: May be required for corporate governance standards.
how to evaluate board
self assessment
peer assessment
external consultants
feedback from stakeholders
board evaluation committee
KPIs
comparative analysis
