COMPANY BACKGROUND "Building Capabilities at the Westward Hilton" Case

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Question Description

"Building Capabilities at the Westward Hilton" Case


PART II. COMPANY BACKGROUND ( 1 page)

This section is an overview of the company, and you should rely on the concepts in Chapter 3.

This section includes the description of following aspects:

-The history of the company

-The current scope and domain of the company (e.g. size, core business, and business model)

-The vision and mission statement of the company

-Stakeholder analysis (Identify and prioritize at least 4 key stakeholders specific to the company)

-The current competitive position and financial performance of the company.

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1 2 Learning Objectives  Know the key questions managers must ask and answer to create a strategic direction.  Understand the challenge of structural inertia and how it limits organizations.  Explain the difference between a vision and mission statement, and why values are important to organizational decision-makers.  List the five different components of social responsibility  Define enterprise strategy and give examples of firms that link ethics and strategy.  Explain the five ethical frames of reference and how they shape values.  3 Influences on Strategic Direction 4 Multiple Uses of Mission Statements  Used for Decision Making and Resource Allocations  Managers and employees are targeted  Mission statements should use terms that are understandable to internal stakeholders  Communicate mission to internal stakeholders on a regular basis  Used to Inspire Higher Levels of Performance and Pride in Association  Also targets managers and employees  Should be inspiring  However, organization must act accordingly 5 Multiple Uses of Mission Statements  Communicates Organizational Purpose and Values  Targets primarily managers, employees, shareholders and potential investors  Helps managers and employees resolve dilemmas when faced with trade-offs  Helps external stakeholders know what to expect from the organization in particular situations  Enhances Organizational Reputation  Targets society and most external stakeholder groups, especially customers and potential venture partners  Carefully articulated to enhance reputation  Catchy slogans (but not cliché) are helpful  Should be short enough so that external stakeholders will attempt to read them  Widely dispersed to media sources and apparent in public settings  6 Organizational Vision  A sense of what the organization will be in the future  CEO has primary responsibility for defining vision  Microsoft Vision Statement  Empowering people through great software – any time, any place and on any device  Bill Gates wants Microsoft to dominate the software systems that link all digital Page 1 transactions and communications 7 Organizational Values  The underlying philosophies that guide decisions and behavior in a firm  Also called core values OR organizational ethics  CEO and other top managers have the most influence on organizational values  Also a reflection of societal values 8 9 Social Responsibility  Economic Responsibilities  Legal Responsibilities  Moral Obligations  Discretionary Responsibilities 10 Enterprise Strategy  Joins ethical and strategic thinking  Best possible reason for the actions it takes  Focused on which stakeholder needs are given priority  Mission statements often provide clues regarding the enterprise strategy of a firm  “We focus on satisfying customer needs”  “Our goal is to provide a satisfying work environment in which our employees can grow and develop”  “Our primary purpose is to maximize shareholder returns”  “We focus on giving back to the communities in which we operate” 11 Ethical Frames of Reference  Economic Theory  The purpose of business organizations is to maximize profits  Legal Theory  Compliance with laws ensures ethical behavior  Religious Theory  Everyone should act in accordance with religious teachings  Utilitarian Theory  Focus on outcomes from decisions. Everyone should act in a way that generates the greatest benefits for the largest number of people  Universalist Theory  Focus on the intent of the decision. “Would I be willing for everyone else in the world to make the same decision?” 12 Codes of Ethics  Communicate the values of the corporation to employees and other stakeholders  Ethics systems are sometimes established to ensure compliance  Formal systems may not be enough to ensure ethical behavior  Often people don’t personalize ethical behavior Page 2  Ethical issues are even more difficult for firms working in more than one country 13 Major Concepts in Chapter 3  Strategic managers provide long-term direction for their organizations, while at the same time balancing the competing interests of stakeholders  Mission statements communicate ideals and a sense of direction and purpose to internal and external stakeholders  A mission is what a company is and its reasons for existing, while a vision is a forwardlooking view of what the organization wants to become  Businesses are defined in terms of customers, needs satisfied, capabilities and technologies, and products and services 14 Major Concepts in Chapter 3  Organizational values guide organizational decisions and help determine the firm’s attitude towards social responsibility and the treatment of various stakeholder groups (enterprise strategy).  A code of ethics can communicate the values of the organization to employees and other stakeholders  Globalization makes dealing with values and ethics even more difficult Page 3 ...
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agneta
School: University of Virginia

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