You will be asked to fill various needs within an organizat…
You will be asked to fill various needs within an organization. Many decisions will be dictated by company policies. However, many will require you to make sound decisions based on your experience and ethics. Please answer both of the following issues. Purchase the answer to view it
Answer
1) Discuss the role of company policies in decision making within an organization.
Company policies play a crucial role in decision making within an organization. These policies are designed to provide guidance and set standards for employees to follow in their respective roles. Policy decisions are typically made at the managerial level and are aimed at achieving organizational goals, maintaining compliance with laws and regulations, and ensuring consistency in decision making across the organization.
One key function of company policies is to provide a framework for decision making. They outline the procedures and processes that need to be followed when making specific types of decisions. For example, an organization may have a policy that requires multiple bids to be obtained before making any significant purchases. This policy ensures that decisions related to procurement are made in a fair and transparent manner, reducing the risk of biased or favorable treatment.
Company policies also help ensure consistency in decision making. By establishing guidelines and standards, policies help reduce ambiguity and ensure that similar situations are handled in a consistent manner. This consistency is important for maintaining fairness, minimizing favoritism, and establishing a sense of equality among employees. It also helps in maintaining trust and credibility both internally, among employees, and externally, among stakeholders such as customers and shareholders.
Moreover, company policies serve as a tool for risk management. They outline procedures and guidelines to minimize potential risks and avoid legal or ethical pitfalls. For example, organizations often have policies on data privacy and security to ensure compliance with relevant laws and protect sensitive information. These policies help mitigate the risk of data breaches and potential legal consequences.
However, it is important to recognize that company policies have their limitations. Policies are often based on assumptions, generalizations, and past experiences, which may not always be applicable to every situation. In complex and rapidly changing environments, policies may become outdated or fail to address emerging challenges. In such cases, decision makers are required to exercise discretion and adapt to the specific context of the situation.
2) Explain the importance of using experience and ethics to make sound decisions within an organization.
Experience and ethics are crucial elements in making sound decisions within an organization. Both play a significant role in ensuring that decisions are well-informed, morally responsible, and contribute to the overall success of the organization.
Experience provides decision makers with valuable knowledge and insights gained from past situations and outcomes. Through experience, individuals develop an understanding of cause-and-effect relationships, identify patterns, and acquire expertise in their respective domains. This knowledge base enables decision makers to assess risks, recognize opportunities, and make informed judgments based on past successes and failures.
Moreover, experience helps decision makers anticipate potential challenges and develop effective strategies to address them. It allows them to leverage prior learning to avoid repeating mistakes, optimizing decision making processes, and ultimately improving organizational performance.
Ethics, on the other hand, ensures that decisions align with moral principles and values. Ethical decision making involves considering the potential impact of decisions on various stakeholders, such as employees, customers, and the wider society. It requires decision makers to uphold integrity, fairness, honesty, and accountability in their actions.
By incorporating ethics into decision making, organizations can maintain their reputation, gain stakeholders’ trust, and contribute positively to the communities in which they operate. Ethical decision making also fosters a positive organizational culture, promotes teamwork, and enhances employee morale and commitment.
Using a combination of experience and ethics in decision making allows organizations to strike a balance between effectiveness and ethical responsibility. Experience provides the knowledge and skills necessary for effective decision making, while ethics ensures that decisions are made with integrity and social responsibility. Ultimately, sound decisions based on experience and ethics contribute to the long-term success and sustainability of the organization.