Single-entity businesses like Professional organizations habitually have a code of ethics developed and adhered to by its employees (Schwartz, 2002, p. 31). While the oncoming employees and other members of staff consent to the business’ core principles, it’s not always smooth sailing when comes to sticking to the existing codes and the principles are not always easily and clearly stipulated. As a new Chief Executive Officer of the single-entity business that provides financial services, I will be looking to develop plans and evaluate ways to cut ethical lapses through training and support. The material items needed are ethical training, professional organizational membership and policy manual for ethics.
In the ethical training, the organizations will look to send our employees to training sessions that cover the ethical standards in the financial and insurance industry. So as to get and support these ethical qualifications in the organization, we will carry out continuous education for new and existing employees on the current trends and best practices in ethics. In an effort to address an easy feeling among the employees, as the CEO, emphasizes will be laid to offer our staff with access to counselors or peer groups where they can converse about ethical issues at the work environment in confidence and get meaningful advice to aid them to establish the best course of action. All professionals need a platform in form of mentorship and ethical board where they can adequately relay and solve ethical dilemmas as they come across them. The platform needs reliability –and we will provide just that to help them make informed decision on difficult matter. As an organization and the CEO, we will require employees to take part in professional organizations that present their members with ethical codes of conduct and offer to pay for their membership fees as part of their benefit packages. Conducting regular staff meetings where we discuss decisions that the professional team has made will also be in the action plan. This is to provide an outlet where ethics are discussed openly so that members of staff can learn from the decisions made and the measures taken by their colleagues (Schwartz, 2002, p. 31). Creation of strict in-house rules is another way we will explore. This is to come up with clear guidelines about the type of practices that our company do and don’t engage in. For instance, as a player a financial industry which is sensitive and prone to all manners of fraud, staff will be informed and warned through a manual, not engage in creating practices that compromise client’s safety or jeopardize business’ security. Also employees perceived to be engaging in unprincipled practices will be queried on specific questions that entail ethical decisions by asking how they handle certain situations to gather the ethical position of the employees. All the above efforts are geared towards positively changing staff’s attitudes, preventing communication breakdown, addressing the soaring absenteeism, and curb human resource turnover to pave way from the introduction of a new strategic plan to the employees and a new product to the market.
Strategically turning organization’s vision to reality is one of the most common and difficult challenge businesses faces. With that in mind, to transform our financial business, I will lead the line in making the strategy and part of the backbone of the organization. This integration will involve aligning the employees in our organization with the strategy a vital part of the organization’s successful implementation of the strategy. Alignment will make it easier for me and the management staff to steer the business in the right path. To achieve employee’s alignment with the new strategy, it's paramount we use five basic steps. First, we will offer the employees with conceptual tools for good strategic thinking. This is because successful introduction of a new strategy can only be successful if we equip employees with the tools to make them capable of making decisions with strategic impact. This step will enable employees understand their role in the success of the strategy and the organization. The second step is to ensure employees properly understand the strategy. This is vital because a good strategy introduction and implementation requires focus and focus comes from knowing you specific goals. Without a clear understanding of the strategy, alignment is impossible (Froschheiser & Chutkow, 2007, p. 8). The third step is evaluating organizational structure of the organization as it can hinder or be of great help in the introduction of a new strategy. This evaluation will be to prevent a situation where a strategy is effective vertically within a department but in efficient in cross-departmental implementation. This evaluation will help the firm to customize it organization structure –if necessary, to suit introduction and implement the strategy. The fourth step will be to review job structure. How employees are hired trained, compensated and retained will be in introduction of the new strategy. I will try to match employee’s efforts with equal reward to guarantee good will in the implementation. Last step to undertake will be buy-in. achieving buy in is tough as some employees won’t believe in the viability and importance of the strategy and that will not be good for the growth of the company (Froschheiser & Chutkow, 2007, p.18). If that’s the case letting go of such staff will prevent strategy conflict which may ultimately lead to stagnation or complete failure. The best way to get the staff aligned is to make them an important part of the strategy.
References
Froschheiser, L., & Chutkow, P. (2007). Vital factors: The secret to transforming your business-- and your life. San Francisco: Jossey-Bass
Schwartz, M. S. (2002). A Code of Ethics for Corporate Code of Ethics.
