BBA 1st Year Business Ethics Relationship Between Ethics & Corporate Excellence Short Question Answer

(2) It clarifies the importance of creating appropriate systems of shared meaning to help people work together.towards desired outcomes.

(3) It requires members, especially leaders, to acknowledge the impact of their behavior on the organisation’s culture.

(4) It encourages the view that the perceived relationship between an organisation and its environment is also affected by the organisation’s basic assumptions.

(5) Organisational culture is possibly the most critical factor determining an organisation’s capacity, effectiveness, and longevity.

(6) It also contributes significantly to the organisation’s brand image and brand promise.

(7) Organisational culture creates energy and momentum. The energy will permeate the organisation and create a new momentum for success.

The above-mentioned relevance of organisational culture supports the proposition that, in this competitive and globalized corporate scenario, there is a huge need of organisational development strategy at various workforce departments, as this can improve the company’s culture.

Q.7. Explain “Corporate excellence as a significant factor”.

Ans. Corporate excellence is the single most important factor that will separate a globally respected company from others who are just about surviving. Though the term has become a buzzword in the business community today, the concept has been around for a longtime. But as long as the company’s balance sheet shows profits, it is not taken seriously. Post liberalization in 1991, when Indian companies were suddenly exposed to the opportunities and threats of globalization, excellence came on the corporate radar. Companies began concentrating on product and customer satisfaction to fuel their initial surge for growth. Customer satisfaction and better product quality is the mantra of survival today and every company will have to follow it. However ,all future growth will be directed through corporate excellence. The ingredients of corporate excellence include not just globalization, but also benchmarking accompany against global standards apart from minutely looking at HR related issues. A company achieves the highest profit, but not in any manner or at any cost. The brand equity will take a hit if ethical practices are not followed and this will ultimately reflect on profits as well. The atmosphere created post liberalization clearly indicated that adhering to corporate excellence is a must if companies wants to grow and forge international alliances. Corporate excellence is also a reflection of the company’s attitude and its vision. Survival is not an issue but growth is. If Indian companies wants to grow and expand their reach across the globe, they could no loiger do so without first achieving corporate excellence.

Q.8. What are the common challenges associated with corporate excellence approach?
Ans.
There are two main challenges that are being faced by those using corporate excellence models, both of these are addressed by the services of the BPIR. The following two paragraphs outline these issues

(1) The first challenge encountered involves the fact that the criteria in the model contains hundreds of questions requiring responses on how or what is done in particular areas of focus. These questions are designed to apply to a generic organisation (although there are three versions of the

Baldrige Model which are specific to Business, Education, and Health industries), as such they can be difficult to interpret to specific circumstances without spending a reasonably large amount of time reading around the model — something that many organisations with a short term focus find hard to justify. This challenge has given rise to much work for consultants on the subject.

(2) The second and main challenge encountered when using business excellence model is that none of the models provide solutions. Although understanding the criteria and responding with the organisation’s practices or results should bring enlightenment relating to what the organisation should be considering, there is no specific advice given on how to improve performance. It is left up to the user to find ways to improve in the areas identified.

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