Multi-Stakeholders Issues Assessment for Global Organizations Essay

Multi-Stakeholders Issues Assessment for Global Organizations - Essay Example The two detrimental events have been key contributors to this change. In the beginning of 2000s, eruption of corporate scandals such as Enron, WorldCom, and Tyco advocated the idea that multi-national corporations and corporate executives care little for ethics, in their pursuit of profit and wealth generation. In 2008, the global financial crisis erupted and rippled across the world, due to a wide convergence of factors in the real-estate market and secondary financial markets, causing economic collapse of many countries, state and private organizations. This crisis, initially affecting the banking industry, not only scaled to a broader economic and geographic spectrum, but also widened the chasm between Wall Street and Main Street triggering wide-spread anti-capitalism and anti-MNCs protests. In spite of their substantial differences, both of these intra and inter-company crises have at least few characteristics in common. Both crises exemplify that managerial behavior and decision -making has high risk and potential to impact a broad range of people all over the world (Clement, 2005). These crises have been major blows to the public trust in business as an institution. In addition, these financial and economical catastrophes also accentuate that the pursuit of corporate goals can be, without difficulty, unsettled by the actions and behavior of unexpected groups and individuals (Parmar, et al., 2010). These issues, driven by change, interconnectedness and globalization, indicate a need for managers and academic scholars to re-evaluate the conventional ways of conceptualizing the responsibilities of the firm and role of a manager within the company. This essentially gives rise to the need of evaluating and effectively managing needs of all stakeholders for the organization. The concept of corporate objectives focused towards a broader and diverse set of stakeholders has been studied by a number of scholars and practitioners for the past few decades. Among many ideologies, â€Å"stakeholder theory† or â€Å"stakeholder thinking† has developed as a fresh narrative to analyze and manage three interconnected business challenges — the challenge of understanding how value is created and operated, the challenge of linking ethics with capitalism and the challenge of supporting managers with tools to address the first two challenges. This essay highlights and addresses the â€Å"stakeholder approach† to tackle challenges related to business ethics, corporate social responsibility and value creation. Upon the understanding of what stakeholder approach reinstates, the essay analyzes the dilemmas, issues and recommendations in its practical applications for managers. The Stakeholder Approach The stakeholder approach in the context of strategic management was first proposed by R. Edward Freeman in 1984 (Freeman, 1984). Contrary to the customary understanding of corporate strategy, which fundamentally associates the term â⠂¬Å"stakeholder† with the owners, investors or shareholders of the organization, Freeman defined a stakeholder more broadly as â€Å"Any group or individual who can affect or is affected by the achievement of the firm’s objectives†. This was the first time that an academic study related to

Women in management in the 21st centuary Term Paper

Women in management in the 21st centuary - Term Paper Example This is sensible in that these professionals have long been involved in assisting organizations and individuals manage and control deviation in a manner that permits individuals from all backgrounds to hear and be heard and work together efficiently. Diversity and inclusion has been focused on hiring, retaining and promoting women. Women have become a significant force in many nations across the globe. For countless organizations, diversity policies offer a competitive edge, as it allows them to benefit from all the prospective arising from the positive variations among the workers. It is significant to realize that gender plays a considerable role in elements of the business functioning process. Across the world, the number of women in management positions has increased considerably. However, many women have not attained the top positions of organizations and face numerous pressures, both external and internal, to the companies where they work. Traditionally, women were observed as physically and intellectually inferior to men and earlier writers had noted that these discernments have generated obstacles to women’s profession development and resulted to favoritism. It is not challenging for women to attain employment at the low levels of management in companies since the benchmarks for recruitment and advancement are impartial. However, it is still challenging for them to climb to top management positions where the selection benchmarks are biased. Studies indicate that women’s progress towards what has traditionally been referred as men’s careers is particularly minimal. Internationally, the perception of women as possessing less needed management attributes is common among many male management personnel. Percentage of women in Senior Management Positions in multi nationals and Government Agencies globally Women’s status is a primary pointer of social advancement. Sustaining equality between women and men is basic to heighten the nu mber of women in management levels in organizations. Over the past few years, women have attained a considerable portion of limelight in almost every sector and corner of the world. For instance, in the arts, more women directors were capable of getting their work into the cinemas, theatres and televisions. In politics, a high number of women won elections, for instance, South Korea swore in its first female president. According to the Grant Thorton International Business Report (2013), almost 21 nations across the world have women as the head of state or the government and the number of women in parliament totaled to 21percent. In the corporate world, numerous women have led multinational corporations, for instance, Marissa Mayer broke the ground when she took over the leadership of Yahoo when almost six months pregnant. The discussion continues as to whether women will ever attain equality with men in the workforce. Although the past four decades have witnessed a gigantic generati onal transformation, with more women inflowing the labor force across the world, a lot requires to be done to progress women to top management positions. In 2012, women in United States constituted over 30 percent of the entire work force. However, they occupy only 14 percent of the top management positions of the Fortune 500 companies and merely 8 percent of executive officer top earner ranks. Among the FTSE 100, women only held 16% of the board positions and 7 percent of the executive positions in 2012. On the other hand, the number of women in board positions was half of the number in United States (Grant