Behavioural implementation
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Behavioural implementation
- 2. Opening Case Opening case Opening case
- 3. “several aspect of behavioural implementation that works behind the scenes adding to its reputation as a company that is respected globally for its value and corporate governance”
- 4. INFOSYS CORPORATE GOVERNANCE Transparency Satisfying the spirit Clear communication to outside world of how company run internally
- 5. Facts company developed guideline for corporate governance Rated highly on C.G. By national credit rating agency 8 independent director out of 15 directors 7 internal directors are all the founders
- 6. Succession planning nomination committee of the board does succession planning all 7 founders are professional Appointment of strategic leaders is based on professional standard rather than family relationship. 4th time ranked as most admirable company It operates the behavior of strategist
- 8. Stakeholder and strategic management “Stakeholder are the individuals and group who can affect and are affected by, strategic outcomes achieved and who are enforceable claim on a firm performance.”
- 9. Functions of stakeholder • It give support to the strategic management of organization • Oppose the top of management in strategy formulation and implementation “ managing stakeholder relationships is important and critical for the strategic management of an organisation”
- 10. External shareholder Customer Suppliers Gov. regulators Bank/creditors Trade unions Employers organisation Mass media NGO/ activists Local communities General public Internal stakeholders Shareholders Employees Managers directors organisation Contributions/ supports Expectations/ claims
- 11. Identify the stakeholders Identify the stakeholders Expectations, interests, concerns Identify the claims of stakeholders Are likely to make on the org. Stakeholder analysis
- 12. Identify the stakeholders who are imp From the org. prospective Identify the strategic challenges involved In managing the stakeholder relationship Stakeholder analysis
- 15. Engagement tactics for stakeholder “The process of fostering an effective relationship with the stakeholder is termed as stakeholder engagement and it is most critical part of the stakeholder management.”
- 16. Agency theory and stewardship theory • Agency theory- When a person delegates the authority to another, an agency relationship is created. • Stewards theory- an alternative approach to explaining the relationship between the owners and managers of the organization is called stewardship theory.
- 18. Corporate governance According NFCG “it is concerned with the extent to which organizations are managed in an open and honest manner. The corporate governance mechanisms are designed to create conditions that support the stakeholder of an organization being managed in an open and honest manner”
- 19. Corporate governance • Key aspect of good corporate governance , according NFCG 1. Transparency of corporate structures and operations 2. The accountability of managers and the board to shareholder 3. Corporate responsibility towards employees, creditors, suppliers and local communities where the corporation operates
- 20. Corporate governance The burgeoning literature on corporate governance and practice around the world suggest several mechanisms that are being used to ensure good corporate governance. Among these are organisational mechanism
- 21. Corporate governance • Having an effective board of directors • Fostering transparency through disclosure of information related to the organisation’s financial and operational performancnce • Framing a code of governance and committing the organisation to its implementation
- 22. Corporate governance • Designing sound internal control systems • Instituting effective auditing and evaluation system within the organization • Having proper risk management procedures in place • Designing fair compensation polices for managers
- 23. Relating corporate governance • Strategic management • Strategic intent • Strategic formulation • strategic implementation • Strategy evaluation
- 25. Role of board of directors • Ultimate Legal authority of organization vest with the board of directors • Members of board are responsible for providing guidance and establishing the directives according to which the organization can operate
- 26. Board of directors & strategic management • Determine the company’s purpose & ethics • Decide the direction, that is, the strategy • Plan • Monitor and control managers and the CEO • Report and make recommendations to shareholders
- 28. Strategic leadership • Corporate level managers • Business level managers • Functional level managers • Operational level
- 29. Task of strategic leaders • Determining strategic direction • Effectively managing the organisational resources portfolio • Sustaining an effective organisational culture • Emphasising ethical practices • Establishing balanced organisational controls
- 30. The styles of strategic leaders • Kurt lewin – democratic , autocratic and laissez faire style.
- 31. Role of strategic leaders • Role of chief executive officer • Role of senior managers • Role of business-level executives • Role of functional and operational managers
- 32. Developing strategic leaders • Choice of future strategic • Career planning and development • Succession planning
- 35. Beliefs are considered to be assumptions about reality and are derived and reinforced by experience. Values are considered to be assumptions about ideals that are desirable and worth striving for. Norms are expected standards of behavior.
- 36. Impact of culture on corporate life As a strength: facilitates communication decision making and control create cooperation and commitment
- 37. Building of a strong culture Founder or an influential leader who established desired values. Sincere and dedicated commitment. Concern for stakeholders.
- 39. To ignore corporate culture To adapt strategy implementation to suite corporate culture To change the corporate culture to suit strategic requirements To change the strategy to fit the corporate cultures Approaches to create a strategy-supportive culture:
- 41. Understanding Politics and Use of Power Reward Power Coercive Power Legitimate Power Reference Power Expert Power
- 42. Power and Politics • Negative • Positive
- 43. Strategic use of power and politics
- 44. Strategic use of power and politics Accept the inevitability of politics being there in the organization Understanding the power structure Lead strategy Be sensitive and alert to political signals Reward organizational commitment Use openness and honesty
- 45. Corporate politics and power in the Indian context Nature of Indian society Higher level of enviousness Pervasive enviousness
- 46. Personal values Personal values refers to a conception of what an individual or group regards as desirable.
- 47. Business ethics It is the study of how personal moral norms apply to activities and goals of a commercial enterprise. It is concerned primarily with the relationship of business goals and techniques to specify human ends.
- 48. Personal values and business ethics A major task of leadership is to inculcate personal values and impart a sense of business ethics to the organizational members. Personal values and business ethics seek to prevent an indiscriminate use of power politics within organization.
- 49. Values : Principles or standards of behavior. Ethics : The rules of conduct recognized in respect to a parti cular class of human actions or a particular group, culture. Strategy : Strategists take strategic decisions on the basis of values and ethics.
- 50. Advantage of business ethics and values Competitive advantage Attraction of investment and human capital Retention of valuable employees
- 51. Inculcating values and ethics Transparency in the recruitment and selection Training and educational programs Communication of values and ethics Consistent nurturing of values Paying special attention to ethically- sensitive activities
- 52. Reconciling Divergent Values. Modifying Values to Create Consistency.
- 53. Social responsibility Social responsibility is an organization's obligation to benefit society in ways that transcend the primary business objective of maximizing profits. Responsibility towards owners Responsibility towards Investors Responsibility towards employees Responsibility towards customers Responsibility towards competitors Responsibility towards suppliers Responsibility towards Government
- 54. Social responsibility in Indian context
- 55. Models of CSR Operating In India Gandhian model: voluntary commitment to public welfare based on ethical awareness of social needs. Nehruvian model: state-driven policies including state ownership and extensive regulation and administration
- 56. Contd… Milton-friedman model: corporate responsibility primarily focused on owners objectives Freeman model: stakeholders responsiveness which recognizes direct and indirect stakeholders interests.
Notas do Editor
- Now who are stakeholders in a company?Stakeholders are a person, group, organization, member or system who affects or can be affected by an organization's actionStakeholders are may be shareholder but share holder are not stake holder.
- This relationship is 2 way relationship Stakeholder provide support to the organisation and contribte in many different way. In return organisation tries to satisfied the expectation of the stakeholders.
- All the stake holders are not important to the organisation in terms of their power to influence strategy formulation their intrest in affairs of the organisation & the legitimacy they hold to affect the orgIn indiagovt consider highly imp stakeholder since it has power to influence has interest and hold legitimacy
- After doing analysis noworganisation set the position of stakeholder. It shows wwhichcorderent is suitable for stakeholders.Now the basic question is this why org do analysis and mapping
- There are 3 types of org1 profitable org – engagement is easier for the heigher profitability firmbecoz they have flexibility and capability2 average return earning organisation- comp will priorties the stake holder and engage more imp stake holder and neglect less imp once3 org not doing well- when the org not doing well it does not have the capacity and flexibility to satisfy their stake holder
- They do analysis and mapping because The process of fostering an effective relationship with the stakeholder is termed as stakeholder engagement and it is most critical part of the stakeholder management.”Stake holders are imp part of organisation. How organisation do fair things in regarding stakeholder and bussiness.
- Agency theory- When a person delegates the authority to another, an agency relationship is created.the person delegating athority is called the principleAnd whom the authority is delegated is called agent. This relationship known as agency relationship. Agency theory have critism that the theory assume managers to be self centered and irresponsiable causing them to act in a prejudicial manner.Stewards theory- an alternative approach to explaining the relationship between the owners and managers of the organization is called stewardship theory. This theory take a positive view of the managers, considering as stewards whose intrest are aligned with that of owner. It support and enpower managersAgency problem when managers do not act in the interest of owner.
- Corporate governance is a term that refers broadly to the rules, processes, or laws by which businesses are operated, regulated, and controlled. in recent years, corporate governance has received increased attention because of high-profile scandals involving abuse of corporate power and, in some cases, alleged criminal activity by corporate officersThe demand of corporate governace was rised by rahulbajaj in 1997Kumar mangalambirla committee on Many others alsoAt that time NFCG national foundation of corporate governace was estb
- Strategic management – it is the governance of an org that deals with the relationship of diff stakeholders, particullarly with 3 of thesm shareholder, directors on the board, managers. Corporate governance is concerned with the behaviour of the 3 major stakeholders toward each other as well as to the affairs of the org.Strategic intent- it deals with organisation vision and mission business defination, business model & objective. Corporate governace place an imp role in each of these aspect. If the director have particular perception of the future of the org than it must match to the managersStrategic formulation-CG mechanism are needed to reconcile the difference in the goals that the shareholders and managers try to achive.strategic implementation- strategy implementation isalmostly under the control of manager there is very less intervention of board of director and shareholder . Strategy implementation determines whether the strategies formulated achieve the desired success, if strategy is deviated then corporate governace mechanism is usedStrategy evaluation- In last phase CG come into the fore. The shareholder and directors have an effective role to play in helping the organisation evaluate the strategies. Board of director must ensure the accoompliishment of objective.
- It is ultimate legal authorityElected by owner ,share holer , financial institution, holding comp and parent compThe board is responsible to them for governance to the org. as director the member of board are responsiable for providing guidance and establishing the directives according to which the manager of the org can operate
- Owner of the organization i.e shareholders, controlling agencies, financial institution , holding company etc are elect and appoint
- Legaly they have conform to various provision of companies act 1956Determine the company’s purpose & ethicsDecide the direction, that is, the strategyPlanMonitor and control managers and the CEOReport and make recommendations to shareholdersExact roles that the board should play in managing the affairs of the organisation or specially in its strategic management.
- Strategic leadership provides the vision and direction for the growth and success of an organization. To successfully deal with change, all executives need the skills and tools for both strategy formulation and implementation
- Corporate level managers – they are CEO , senior exective of comp. they manage the strategic management process for whole of the org.Business level managers- they are strategic leaders at the business or SBU levels. They manage strategic management process at the business levelFunctional level managers- strategic leaders of a specific function such as marketing or operationOperational level- in operational level there is manager who responsible for the implementation of strategies with in their assigned functional area
- Style describe how top managers behave in leading and motivating their org to achive their desired end Ohio state university studies (initiating structure versus consideration style)Michigan studies (job centered and employee centered styles)
- Role of chief executive officer- they perform all the strategic mang .Ceo plays imp in decision making and he is cheifly responsible for the execution of functionRole of senior managers – he is just below from chief executive. These managers are involved in varios aspect of strategic mamg. They are responsiable for implementing strategies and plans and periodic evaluation of performance.Role of business-level executives- they are profit center or divisional head are consider as chief executive of a specific business unitRole of functional and operational managers- they are the middle level managers . And not perform any active role in decision making.
- Choice of future strategic – it is a very crucial decision to choose the future strategic leader becoz it depends the org future in public comp they choose strategiest on competitive basis, relying on experience an merit. in family business they choosen on family membersCareer planning and development- now a days comp have their own leadership and trainning institute to build and strenthen the quality of leadership internally egtata , satyam and infosys. For this various courses are also run for strategic management and business policy in these institute ADMINISTRATIVE STAFF COLLEGE OF INDIA and INDIAN INSTITUTE OF MANAGEMENT.Succession planning -it is a process for identifying and developing internal people with the potential to fill key business leadership positions in the company. Succession planning increases the availability of experienced and capable employees that are prepared to assume these roles as they become available.
- The phenomenon that often distinguishes good organization from bad organization could be summed up as corporate culture.It has been clearly demonstrated that every corporation has a culture that exerts the powerful influences on the behaviour of managers.
- First thing friend culture is a strength that can aslo be a weakness. Culture facilitates communication and helping in decision making and also helping to controls the corporate affairs.andaslo create cooperation and commitment for the goal.And when the coporate culture is a weakness then it may obstruct the smooth implementation of strategy by creating or augmenting resistance to change.it is chracterized as a weak when many subcultures exist within,few values and behaviouralnorms are shared and traditional are rare.
- There are three factor that seems to contribute to the building up of a strong culture.A Founder or an influential leader who established desired values.A Sincere and dedicated commitment to operate the business of the organization according to these desirable values.And a genuine Concern for the well-being of the organization’s stakeholders.
- In this we have to understood what constitutes corporate culture and how it affects corporate life.it is important to understand its relationship with strategy.Sometimes strategic options could also be limited by the culture of the organization.
- Now here…strategist have four approaches to create a strategy-supportive culture.* It is followed wen it is nearly impossible to change the culture.this is advisable bcoz it is really difficult to change a nebulous phenomenon such as corporate culture.* It is easier to change implementation to suit the requirements of the corporate culture. This is possible bcoz the behavioural aspects of implementation offer a range of flexible alternatives to strategist, in terms of structure, system and process.* As mention earlier,It is extremely difficult to change the corporate culture but in some cases, it may be imperative. * Rather then changing the culture to suit a strategy ,it is better and more economical to consider the culture dimension while formulating the strategy in the first place.
- Now corporate politics,it is also known as organisational politics. all corporate culture include a political component and,therefore all organisation are political in nature.organisational members bring with them their likes,dislikes,views and opinions,prejudices and inclinations when they enter organizations.managerialbehaviour can not be purely rational and an understanding is to be acquired of how corporate politics work and use of power is to be made for effective strategic management.
- Power is defined as the ability to influence othersAccording to a classic categorization, managers derive power within an organization from five types of source.Reward Power arise from the ability of managers reward positive outcomesCoercive Power arises from the ability of managers to penalize negative outcomesLegitimate Power arises from the ability of manager to use position to influence behaviourReference Power arises from the ability of managers to create liking among subordinates due to charisma or personalityExpert Power arises from the managers’ competence, knowledge and expertise that is acknowledged by others.
- Basically politics and power is the means to resolve conflicts and bridge genuine diffrences of opinion.It has two cannotations positive and negative.wen taken negative then power and politics are means for domination,manipulation and subjudication.and then there is always high level of deception and dishonest for achieving individual or group interest.and that leading to conflicts and dishharmony in the organisation.And when taken positively then power and politics are a means of achieving organisational objectives.It is a natural outcomes of people in the organisation.
- Henry mintzberg is of the view that corporate politics is neither inherently good nor bad. Politics and power affect the way a strategy is formulated and implemented
- Strategic use of power and politics may involves one or more of the tactics which are mention here.First of all,
- The presence of politics and use of power are, perhaps, more visible than in other culture. this is due to first two factor.These means that while organization in India have adopted bureaucracy, the person-oriented nature of Indian society suggests an emphasizes on particularistic rather than universalistic treatment of employees, leading To reliance on personal characteristics in hiring, promoting and rewarding employee.Enviousness : a feeling of grudging admiration anddesire to have something that is posses by another.Pervasive:everywhere.In the organization managers do not have to deal with
- A value is a view of life and a judgment of what is desirable, which is very much a part of a person's personality and a group's morale.Values are generally imparted by founder-entrepreneur
- principles or standards of behaviour; Values can be defined as those things that are important to or valued by someone. That someone can be an individual or, collectively, an organization. Rockeach (1973) defines values as "a specific mode of conduct or end-state of existence is personally or socially preferable to an opposite or converse mode of conduct or end-state of existence." Values provide a framework for making choices between desirable and undesirable responses.Ethics also important for all human beings. Bcozvalues determine what is right and what is wrong, and doing what is right or wrong is what we mean by ethics.Strategist are using the strategy are good but main issue is whether it is right to let them affect the consideration for strategy formulation and implementation.Opportunity ,Motive,Trust
- In the reconciling divergent values strategist have to reconcile divergent values and modify values,ifneccessary.Typical case values divergence may arise while setting objectives and determinig the precedence of different objectives.Modification of values is frequently required for strategy implementation. Any perticular strategy like expansion,may be suboptimal if existing values do not conform to these requirements.In such cases, modification of values is necessary.
- Social Responsibility towards different Interest groups: 1. Responsibility towards owners: Owners are the persons who own the business. They contribute capital and bear the business. Run the business efficiently Proper utilization of capital and other resources. Regular and fair return on capital invested. Responsibility towards Investors: Investors are those who provide finance by way of investment in shares, bonds, etc. Banks, financial institutions and investing public are all included in this category. Einstein College of Engineering 5 Ensuring safety of their investment Regular payment of interest. Responsibility towards employees: Business needs employees or workers to work for it. If the employees are satisfied and efficient, then the business can be successful. Timely and regular payment of wages and salaries. Opportunity for better career prospects. Proper working conditions Timely training and development Better living conditions like housing, transport, canteen and crèches. Responsibility towards customers: No business can survive without the support of customers. Products and services must be able to take care of the needs of the customers. There must be regularity in supply of goods and services. Price of the goods and services should be reasonable and affordable There must be proper after sales-service Grievances of the consumers if any must be settled quickly. Responsibility towards competitors: Competitors are the other businessmen or organization involved in a similar type of business. Not to offer to customers heavy/discounts and or free products in every sale. Not to defame competitors through false advertisements. Responsibility towards suppliers: Suppliers are businessmen who supply raw materials and other items required by manufacturers and traders. Giving regular orders for purchase of goods Availing reasonable credit period Timely payment of dues. 8. Responsibility towards Government: Business activities are governed by the rules and regulations framed by the government. Payment of fees, duties and taxes regularly as well as honestly Conforming to pollution control norms set up by government Not to indulge in restrictive trade practices. 9. Responsibility towards society: A society consists of individuals, groups, organizations, families etc. They all are the members of the society. To help the weaker and backward sections of the society. To generate employment. To protect the environment . To provide assistance in the field of research on education, medical science, technology etc.
- Ya friend for corporate sector Corporate social responsibility is not a new concept in india.it is well establized traditional in the corporate sector,perticularly in the family-owned organisation that have had a strong social orientation towards community through charity and philanthropic activities that we understand by four different models..Gandhian modelNehruvian modelMilton-friedman modelFreeman model
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