Essay on Reflection: Management and Swot Analysis

Submitted By Ashley-Noe
Words: 473
Pages: 2

Week 2 Team Reflection:

I have enjoyed reading about the social responsibilities of an organization. It was interesting for me to see the difference of opinions between Milton Friedman and Archie Carroll. Friedman believed that a company’s sole purpose was to gain a profit and that their responsibility to society is limited. An organization should focus on creating jobs so the company can grow and earn more profit making shareholders happy. Carroll’s focus was completely the opposite. He believed that companies existed to help further society. Although he believed that it is important for a company to turn a profit, they should reinvest their earnings into the community so that both, the society and the company, are happy. According to Carroll a company has four responsibilities; economic responsibilities (Things they must do) Legal responsibilities (things they have to do) ethical responsibilities (things they should do) discretionary (things they might do). These are listed in the order of importance for a company.

In chapter 11, in the concepts in strategic management and Business discuss the evaluation and control process that works to accomplish achieving the performance of the company. During this process the feedback is evaluated for management to take action. The interesting part about this process is this two-step process can be transformed into a five step feedback model. This starts out with knowing what to measure, know the standards, measure what is thought to be the standard performance, after this step the matching up standards with performance is important in order for the management to take action on correcting things. In any company, these five step process is vital to success in operating effectively and efficiently. All though this process has not been proven to work in other areas besides business, I can relate to this working in someone’s personal lives by…