Transparency of Business and Proposed Management Practices

Last Updated: 26 Jan 2021
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Firms and the managers within them are always looking for the next source of competitive advantage, while at the same time combating the current internal inefficiencies, conflicts and performance issues. With one foot in the present to address the issues of the day, in the planning and preparation for a successful future is a constant dilemma now facing the manager.Historically, higher transparency of an ethic of practice for the third partAnalysis of the financial situation and practices of an institution, however, the largest study of business ethics and organizational behavior, to demonstrate transparency as a management practice that both the everyday problems of management are dealt with, and even an internal source of a sustainable competitive advantage is difficult for competitors to imitate.This article will examine the concept of transparency of business and proposed management practices in the areas ofThe development and implementation of strategy, decision making and performance management to ensure transparency, to improve performance. and a source of sustainable competitive advantage. Transparency Transparency is used as a confidence-building mechanism in general, to "open" books or practice of an organization concerned with a "right to know that.

Much has been written about the transparency in public enterprises and governments, but also with the importance of trust in all businessTransactions and relationships is very little about how to use this mechanism for building trust, which will be published to improve organizational performance at the operational level. If true, the employees know how and why behind the organizational strategy, decision making and performance management, usually feel more confident in managing their organization and may be more involved and engaged in their work.Although the fear of strategic information from falling into the hands of competitorsinternal sources may limit the potential for complete transparency, strategic and operational coordination of internal information can build confidence in the system and a knowledge of how each player contributes and is influenced by the system. The structure and the need for transparency and exchange of information at a strategic level, decision making and performance management is an environment that is in the goals and the tools and practices with which to that end, be moreCooperation and performance.Transparency in strategy Drawing on resources based on the view of the strategy (see Barney 1991) and the concept of strategic management (see Ireland and Hitt, 2001), managers can build a competitive advantage and do a better job of choosing between alternatives competition, and the alignment of internal resources than their competitors. A high level of these breaks to communicate openly and to align organizational priorities, area visibility functionContributions to these priorities for those who need to know, and a visible link between the work of each employee and organizational priorities for action.This is not only affecting an executive, but to all officers and employees is critical to the success of this strategy, which can be achieved only on the level of functional or team, in the absence of organizational support.

However, if all managers and employees including the organization's priorities andFor information on how they will contribute to them, and these contributions directly in line with the contributions on labor income, can get the teamwork and performance.Transparency in strategy can always be achieved, but the best place to start is during the annual cycle of planning and budgeting, especially executives and managers are the goals that are the model for quarterly bonuses into account. Too often this critical time is a rush of activity, butalmost no exchange of information and coordination from above or below functional area manager. The cable worst case of a wide range of independent or conflicting objectives, which reflect the stated priorities of the organization or implied.Best case would be managers who have the major priorities and performance objectives of the team, and therefore the contributions of each functional area to negotiate on these results. Critical to the success of these negotiations is the sole ownerTargets and firm commitments from all managers on the factors of production that provide the other as a result. A common example of this would be an organizational priority revenue up 20%, a sales target of 1,000 units per month, and to undertake measures the transformation of the number of sales of a number of standard files per month.

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The same procedure applies to projects that do not follow-basic operations, and these obligations are the basis for bonus objectives andBudgets. Information is the operations of strategic planning throughout the organization to those who need to know, "divided," and is the core responsibility of the agenda for the regular (weekly monthly) /, group meetings and staff and an important measure for the evaluation of alternatives in decision-making ..

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Transparency of Business and Proposed Management Practices. (2019, Mar 02). Retrieved from

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