Question 1: It is said that successful managers use different decision-making models to address both internal and external environments. Choosing one organisation operating globally, critically evaluate the importance of rational decision-making models.
50 Marks
Question 2: Measuring performance can be a complex task as different measurements give different results. Critically evaluate the suitability of performance measurement indicators in the context of a profit-making organisation.
50 Marks
Question 3: Organisational structure allows managers to achieve organisational goals for their organisation. Choosing one organisation that you are familiar with, critically discuss how their structure can help them achieve their business objectives.
50 Marks
Question 4: Milton Friedman argued that the primary responsibility of a profit-making organisation is to make a profit. Critically analyse this statement.
50 Marks
Milton Friedman's statement is a bit of an oversimplification. A company has a responsibility to its shareholders to make a profit, but it also has a responsibility to its employees, its customers, and the community at large to act in a responsible and ethical manner. A company that focuses exclusively on making a profit without regard to the other stakeholders is likely to run into trouble in the long run.
Friedman's statement also neglects to mention the role of government in regulating business. A company that fails to comply with regulations or that engages in illegal activities is unlikely to be profitable for very long. In other words, a company has a responsibility to obey the law and to act in a socially responsible manner.
It is important to remember that a company is not an isolated entity; it exists within a larger social context. A company that disregards the needs of its employees, customers, and the community in which it operates is likely to find itself at odds with society as a whole. In the end, a company that focuses solely on making a profit is likely to be less successful than one that takes all stakeholders into account.
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