Evaluate the planning function of management within your selected organization. Address the following items in your paper:
· Identify at least one legal, ethical, and social responsibility issue that impacts your selected organization. Analyze the impact that these factors have on management planning.
· Analyze at least three factors that influence the company's strategic, tactical, operational, and contingency planning.
For the purpose of this assignment, I will chose a financial services organization that is involved with managing investments of people and offers a wide gamut of financial products and services under one roof.
Financial services industry is one of the most regulated in the world and thus, subject to many legal issues. In USA, for example, financial services industry is regulated by SEC, that regulates and monitors the behavior of financial services firms and strictly punishes the offenders. For example, there are host of compliance related issues that a financial services firm has to pursue, such as those related to reporting to customers, authorization for deployment of funds of investors, etc. Management of financial services firms have to ensure that each of their actions, processes and activities in the organization are compliant to legal standards prescribed by the regulatory board. They have to put control mechanisms in place to ensure that all the legal formalities and compliant related issues are duly addressed and no lapse takes place.
From ethical perspective, a financial services firm need to ensure ...
Identify at least one legal, ethical, and social responsibility issue that impacts your selected organization. Analyze the impact that these factors have on management planning.
Demonstrating Ethical Behavior and Social Responsibility
Think of a situation you have been involved in that tested your ethical behavior. For example, maybe your best friend forgot about a term paper due the next day and ask you if he could copy and hand in a paper you wrote for another instructor last semester.
1. What are your alternatives, and what are the consequences of each one?
2. Would it have been easier to resolve all the dilemma if you had asked yourself these three questions is it legal? Is it balanced? How will it make me feel about myself?