Topic Threads Discussion 10 v 0 A Locked before Monday, August 6, 2018 12:01 AM
ID: 436060 • Letter: T
Question
Topic Threads Discussion 10 v 0 A Locked before Monday, August 6, 2018 12:01 AM CDT. How can a top management team lower the chances that key managers will pursue their own self-interests at the expense of stockholders? At the expense of the employees? At the expense of other key stakeholders? Without compromising the identity of an individual or group of individuals, share examples you have witnessed where this type of behavior occurred. What action did senior management take to curb the behavior? If no action was taken, in your opinion what could have senior management done? Initial posts are due by 11:59 pm CT Thursday. Response posts are due by 11,59 pm CT Sunday Strategic Plan Group Project Team Discussion AreaExplanation / Answer
The senior management needs to understand the issues that emerge at the workplace, creating rift among the individuals who now prioritise their vested interests over the broader interests of the organisation. These issues may be related to the workload, compensation, benefits or lobbying by a group against other, biases against an individual or a group and so on. The top management also needs to maintain checks and balances to prevent key managers to pursue their self interests at the expenses of employees or stakeholders. Such incidents can be reduced by encouraging communication between the key members of the organisation, conducting independant audits and taking timely action against the guilty to discourage others who may also be willing to follow.
One such incident came into light at an organisation a couple of years back, when a famous educational institute's manager was caught running a parallel chain of institutes by the same name in nearby towns. This chain of institute had only one branch in the state. The manager, who was an apple of the eye of some bigwigs in the headquarter of the company, had access to the confidential resources of the company. This person not only provided genuine looking study material, certificates and documents to the customers, he also managed to create a fake website, which was very difficult to identify from the original one. He also arranged for fake teachers who wore the same uniform and sported genuine looking ID. The matter was first brushed under the carpet by some loyals, but when it reahced to the MD,a detailed investigation was conducted. by the time authorities got hold of the matter, the manager had duped the company of $550000. A total of seven employees. mostly of senior manager ranks were found guilty and removed from their jobs.
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