please answer following questions
Question 1:
Using examples, describe the exchange relationship that exists between organisational stakeholders. Where might conflict arise in the exchange relationship? How might managers attempt to resolve this conflict?
Question 2:
Using examples and relevant theory, explain why culture is an important consideration for strategic planners.
Question 1:
Students should initially begin by discussing the importance of objective setting in strategic
management.
The various stakeholders impacting upon an organisation should be outlined e.g.
employees, suppliers, shareholders, as well as examples of stakeholder group aspirations /
needs / interests.
An outline of the exchange relationship in terms of inducements out (i.e. their interests are
satisfied) and contributions in (i.e. the resources they provide) should be made. e.g.
shareholders provide capital and expect a return on their investment in exchange.
The conflict between stakeholder group interests should be highlighted, leading to a
discussion of how different strands of management theory view the prioritization of these
aspirations. (“Real world” examples of conflicting stakeholder interests should gain extra
credit).
Governance models and control mechanisms should be discussed.
Students may discuss the competing academic paradigms.
How organisations might seek to manage the power of different stakeholder groupings
should be examined, incorporating “stakeholder mapping” techniques (Johnson et al. 2014).
5
Question2:
Students should use the cultural web (Johnson et al. 2014, chapter 5) together with relevant
examples to answer the question.
The importance of structure should be emphasised to students, and it is expected that
students will draw a cultural web diagram, and use the seven components as sub-headings
in their answer.
Students should recognise that culture is an important consideration for strategic planners
because:
• It is the cultural glue that binds organisations together;
• It can contribute to strategic drift;
• It is highly problematic to manage;
(Johnson et al. 2014, p.154)
• Culture can be a strategic capability;
• It can hinder the implementation of a new strategy, and;
• It has implications for leadership
(Johnson et al. 2014, p.160-161)
Better answers will recognise that culture may mean that certain strategic options are not
suitable and others are much better suited.
Students should proceed to explain, using examples, how each of the seven components of
the cultural web may influence the development and implementation of strategy.
For example (using KPMG)…
Core assumptions:
• Best practice in everything we do
• Independent
• Rigorous
• Clients come first
• Risk averse—we’re here to help client’s mitigate risk
Stories:
• Long hours worked
• Demanding bosses
• Work hard, play hard
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