Business Policy and Strategy Unit VIII Journal
.docx
School
Columbia Southern University**We aren't endorsed by this school
Course
BUS 4951
Subject
Management
Date
Jan 9, 2025
Pages
2
Uploaded by sashajski17
Business Policy and Strategy Unit VIII JournalThe first item on my to do list after opening a small business would be to create a very clear, concise code of business ethics. A code of business ethics is “a written document specifying expected employee/manager behavior/conduct in an organization,” (Strategic Management, 17thEdition). With a very strong code of business ethics, I could possibly deter any ethical wrongdoings that could take place, but to be on the safe side I would follow the four practices that Donald Palmer recommends in our textbook. The first principle is to punish swiftly and severely for any unethical practices or wrongdoings. I believe that by telling employees upfront the punishments that will take place for anything that goes against our code of business ethics will hopefully deter any ethical wrongdoings. I also believe that making an example out of the first person who does break my business ethics will also drive home the idea that I am not allowing unethical behavior. The second principal Palmer recommends is to hire highly ethical employees. I believe that when hiring employees, it is incredibly important to hire employees that have the same morals and values that you have for your business. One way to do this is to take a deep look at the social media of any job candidates I am looking to hire. This will allow me to see behind any façade that a job candidate will bring into a job interview. The third principle is to develop highly socialized programs for reinforcing desired cultural values. According to Franz (2019), I must communicate and socialize all the values I have within my business. There are multiple ways to do this, starting with talking about the values during job interviews. This way I can be upfront about what I expect from all my employees. Another example is to have all job candidates sign a copy of the code of business ethics I have created, as well as sign a copy of behaviors that will not be tolerated. During and after orientation, I should take the time to communicate and discuss all the values I have for the business, as well as name aspects within the business after the values to keep everything front and center (Franz, 2019). The fourth principal Palmer recommends is to encourage subordinates to challenge and question any unethical or possibly unethical orders and demands from superiors. I believe we are in a day and age where subordinates are afraid to speak up against any commands that are unethical, simply for fear of losing their jobs. I would ask that all my employees never to be afraid of challenging a superior over unethical behaviors, and that if any fear mongering happens, to take it upon themselves to come to me about any unethical behavior taking place within my business.My favorite strategic management skill I have learned in this course would have to be about using marketing segmentation. I have noticed that the business I work for is having issues targeting a specific customer market. With the knowledge I have gained on how different companies use market segmentation to target customers, I believe that I can change the way we currently target the market and come in at a different angle.
References:David, F. R., David, F. R., & David, M. E. (2019). Strategic Management (17th ed.). Pearson Education (US). https://online.vitalsource.com/books/9780135203736Franz, A. (2019, November 18). How to socialize and operationalize your core values. Forbes. https://www.forbes.com/sites/forbescoachescouncil/2019/11/18/how-to-socialize-and-operationalize-your-core-values/?sh=7df2ca862f31