In capitalistic or market economies, top-level managers of privately owned companies are responsible and accountable for operating the enterprise profitably and acting in shareholders’ best interests; management’s fiduciary duty to operate the enterprise in a manner that creates value for shareholders is not a matter for serious debate. In addition, a company and its personnel are duty-bound to obey the law and comply with governmental regulations. It is also important to note that those leaders who follow this philosophy generally do create companies that are more capable of good strategy execution. This discussion will allow you to think more critically about the importance of sound ethical business practices and how these translate to good strategy execution.
Does a company have a duty to go beyond legal requirements and hold all company personnel responsible for conforming to high ethical standards? Explain why or why not.
Does a company have an obligation to be a good corporate citizen? Defend your position.
How might your responses to the first two questions translate to good strategy execution? Be specific and provide examples.
The term social stratification alludes to the gathering of social classes inside a general public. This is a particular type of disparity, and the impact of this is sure gatherings in the public eye are viewed as having a higher status or rank than others in light of influence and riches. Social stratification works by society positioning which is situated in four areas. Social stratification can be passed starting with one age then onto the next, i.e. eminence, it is general however changes after some time and place, it is a quality of society not singular contrasts and in conclusion social stratification likewise goes on convictions and not simply imbalance (Wikipedia, 2014). Sociologists contend that some type of social stratification happens in each general public on the planet notwithstanding that everybody cases to need an equivalent society (Burton, 2013). Sociologists consider there to be three fundamental frameworks of stratification in the present social orders. These are bondage, the standing framework and the class framework. Bondage has legitimately been abrogated in numerous nations yet there is still confirmation of no less than 400 million individuals living under conditions that add up to servitude. For those living in Sudan, Ghana, India, Pakistan, and numerous different nations with comparative goals, subjection is a typical thing to happen and in specific parts of Asia sex bondage is likewise normal. A rank framework is a social framework based on attributed status. This is a status in light of qualities a man is conceived with, for example, race, sex, religion, age and so on. In a rank framework there is no possibility to change starting with one station then onto the next and marriage outside of a man's position isn't by and large allowed. Regularly in a rank framework the relational unions are pre-masterminded between guardians as opposed to a decision of the person. A class framework is a social framework based on accomplished status. This is status that a man either acquires or picks so isn't reliant on where a man was conceived or a man's parentage. Those conceived in a class framework can pick their instruction, vocation and accomplice. A man in a class framework may likewise begin off in one class yet can move between classes (Spark Notes, n.d). For some sociologists the emphasis is on the rank and class frameworks of stratification and the measure of social versatility inside that framework. This social portability is the simplicity of which a man can climb or down the class framework and will be founded on a man's riches or influence. In present day western social orders, stratification is sorted out by class and isolated into three principle layers, high society, working class and lower class. Every one of these classes would then be able to be separated into advance classifications controlled by things, for example, lodging areas (Wikipedia, 2014). A man's social class will rely upon where they are from, what they improve the situation a living, where they accomplished their instruction, their identity associated with and how ground-breaking them individuals might be, how much riches they have and their situation in the public eye. At the point when a man's social class is being viewed as their instruction won't by and large be viewed as, except if obviously they went to a high positioning training office. This individual will likewise need some high associations with be considered for privileged status. In the event that a man is deficient with regards to any of these components they will be considered as center or even lower class, contingent upon their postcode or bank adjust, inside a western culture. In present day western social orders there are distinctive classifications for social stratification, for example, age, race, sexual orientation, class, race or handicap and in a few places there will be much more classes (Wikipedia, 2014). Social arrangement has occurred well before the advanced type of ordering individuals started. Social stratification has been estimated in various structures; from asking individuals which class they believe they have a place in with utilizing a man's postcode. The two most utilized measures are both in view of occupation. The Registrar General's Standard Occupation Classification (SC) and the Socio-Economic Groups (SEG). The SC started in has been in the evaluation since 1901 and depends on a man's occupation which will can be categorized as one of six classes: Professional, Intermediate, Skilled (Non-Manual/Manual), Partly Skilled and Unskilled. This is an ordinal measure that positions occupation, by ability and social standing. The SEG is comprised of 17 unique classifications and would in truth cover all outcomes of business, house specialist, understudy and so forth. This is an ostensible measure that positions occupation by work status (Anon, n.d). The SC has qualities and shortcomings with its utilization. It is a basic framework with effectively generalizable classifications. This framework is additionally valuable when needing to think about the adjustments in occupations held over some undefined time frame. In any case, this framework does not seem to amass individuals it concentrates more on the occupation. Another issue with this framework is that the classifications don't think about the distinctions in pay between specific occupations. The SEC likewise has a few qualities and shortcomings to its unwavering quality in estimating class. Its primary quality is that it has a more extensive scope of classes for individuals to consider, anyway its greatest shortcoming is that is still neglects to recognize certain individuals, for example, ladies, understudies and the jobless (Sociology Org, 2013). Having in excess of one method for estimating social class has caused numerous issues. As occupations have changed significantly finished the years there are numerous issues with the way the SC and the SEG measures class. The greatest of the issues is that they are not intended to quantify the occupations of ladies, housewives, understudies or even the jobless satisfactorily. In spite of the fact that this will by and large be the most solid as individuals will acknowledge what is advised to them by an administration body, for example, the Registrar General. In 1994 an administration survey of social arrangements occurred with the expect to audit the dependability of utilizing occupation to gauge social class, to survey the social class classifications and to evaluate the adequacy of the progressions made. These progressions occurred in 1998 and another characterization framework, NS-SEC, was presented starting in the 2001 registration (Anon, n.d). This change made to the way occupation is estimated comes in eight classifications to incorporate the distinctions in set areas. The classifications of the NS-SEC are: higher administrative and experts, bring down administrative and experts, middle occupations (administrative, deals and administrations), little bosses and claim account specialists, bring down supervisory and specialized occupations, semi-routine occupations, routine occupations and never worked or long haul jobless (Wikipedia, 2013).>GET ANSWER