Strategic Business Management and Ethics

Strategic Business Management and Ethics

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Introduction

The scenario requires Betty King to take some leadership roles. Leadership is the practice of renovating businesses from what they are to what the leaders would have them develop into. Doing what is ethically right thing is becoming more paramount in contemporary complex global world of business. This signifies that there is a necessity to act in a situations that we think are unethical for example, the situation that Betty King finds her self. Leaders are viewed as driving forces that bring about change and whose success are determined by how effectively they strategically put themselves at the helm of the tough situation to see that change occurs (Hitt, Ireland, & Hoskisson, 2009 ).

There are three important mutually dependent actions in which all triumphant leaders must be persistently engaged into. First Betty needs to set directions. Secondly, she needs to design the organization to appear or be like how see wants to see it, and lastly she needs to nurture and sustain a tradition that is devoted to excellence, principles and ethical behavior.

Setting direction requires that managers to have a deeper understanding of the nature of the organizations, its stakeholders and shareholders, and the environment in which the business operates. Thus, in this scenario, Betty needs to have a deeper understanding of the nature and operations of EZ as well as its shareholders and the possible effects of her boss holding the customers checks and the implication of misusing the float. Only with this understanding will she be in a position to setting directions and determine her next course of action regarding the situation at hand (Henry, 2008).

The second step that she needs to undertake is designing the organization; which is a premeditated leadership movement of making arrangements, teams, systems and managerial processes that facilitates the implementation of her vision. This is important because the situation that prevails in the company requires more than her sole effort. Therefore, the contributions of others, as well, are important.

Lastly, she needs to nurture and sustain a culture of dedication to excellence and ethics. This can be a daunting task, however, it is possible to change the organization to what she wants it to be, and that is leadership. It seems that previous leadership and even present leaders of the organization are yet to act in solving the situation although amid some laxity (Hitt, Ireland, & Hoskisson, 2009).

Effective leadership skills are necessary so that she can salvage the company as well as the newly acquired from collapsing. She needs to be an integrative thinker; that is she needs to talk to her boss regarding the issues besides other bank employees to make them understand the implications of the situation in the company. The aim is to provide better alternatives that can help salvage this company from ruins plus the newly acquired one.

This move might meet some challenges; bearing in mind that she is new into the company as well as some employees might have some vested interest in the status quo. The latter therefore, may pose resistance to change she is intending to bring in. Having in mind what to expect, she needs some emotional intelligences to amicably go about the circumstances at hand. The key characteristics of an emotional leader are honesty, maturity, inspiration, judgment, enthusiasm, know-how, acumen among others. All these are important factors to bear in mind as she goes about the predicament. She needs to explain to Ryan what she thinks, also listen to him so that he may explain why he thinks there is nothing wrong with what he is doing. She needs also to talk with other concerned parties so that they brainstorm together and find solutions (Henry, 2008).

In conclusion, the whole process should therefore be governed with integrity, maturity, understanding and a willingness to act ethically and to make sacrifices so that the company can be salvaged from falling.

 

References

Henry, A. (2008). Understanding strategic management. Oxford ; New York: Oxford University

Press.

Hitt, M. A., Ireland, R. D., & Hoskisson, R. E. (2009). Strategic management: competitiveness

and globalization: concepts & cases. Mason, OH: Cengage Learning.