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Corproate Public Policy

- What is the relationship between corporate public policy and strategic management.
- Provide an example of an ethical issue that companies face regularly. In your opinion, what is the best way a company could address the issue provided?
- Consider the definition of strategic management. What is one way that a company engages in strategic management? What should the company consider when focusing on issues related to the example provided.
- Find an example online of a company's corporate public policy. What do you think about this policy? Did the policy address all of the issues that you think it should have?
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1. Explain the relationship between corporate public policy and strategic management.
2. Which of the four strategy levels is most concerned with social, ethical, or public issues. What are the characteristics of that level.
3. Identify the steps involved in the strategic management process.
4. What is the difference between a social audit and a social performance report? Why are social performance reports increasing in popularity?
5. What is the difference between public relations and public affairs? Why has there been confusion regarding these two concepts?
6. Why do you think global public affairs is a major growth area?
7. Differentiate between a collaborative or problem solving strategy and an individualistic or adversarial strategy. Which seems to be more effective in corporate public affairs?
8. What are the major ways in which public affairs might be incorporated into every managers job? Rank them in terms of what you think their impact might be.

Solution Preview

Strategic Management is related to responses to external issues such as understanding customers' needs and responding to competitive forces. It determines the goals, and objectives of the firm. Corporate public policy is the participation of business in the political and regulatory process to make sure company's interests are appropriately represented. Strategic management gives the goals and objectives of a company and corporate public policy ensures that these goals and objectives are properly represented. Corporate public policy ensures that the political environment is favorable for achieving the goals and objectives.

An ethical issue a company faces regularly is selecting employees for discharge when there is restructuring. Often the employees fired are selected arbitrarily. The best way of addressing this issue is to select the employees strictly on the basis of the total score in the last performance evaluation. Those with the lowest scores should be selected.

When considering the definition of strategic management. One way that a company engages in strategic management is to determine the objectives of the company. When considering the objectives, the company should consider its core competencies, its strengths and weaknesses, the resources available, the environmental forces, competition, the opportunities and threats, and the interests of all its stakeholders.
An example online of a company's corporate public policy is that of Rockwell Collins. The policy is at: http://www.rockwellcollins.com/Our_Company/Corporate_Public_Policy.aspx
The corporate public policy is ethical, and promises to respect the law. It contains mandatory requirements. It also lists the ...

Solution Summary

The answer to this problem explains strategic management, and corporate public policy. The references related to the answer are also included.

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