research paper- Cathay Pacific airways

DR. ADAY HTM 590

® Know the key questions managers must ask and answer to create a strategic direction.

® Understand the challenge of structural inertia and how it limits organizations.

® Explain the difference between a vision and mission statement, and why values are important to organizational decision-makers.

® List the five different components of social responsibility ® Define enterprise strategy and give examples of firms that

link ethics and strategy. ® Explain the five ethical frames of reference and how they

shape values.

Broad Environment

External Stakeholders

Internal Stakeholders

History and Inertia

Strategic Direction Vision Mission

Business Definition Growth Orientation

Organizational Ethics

Organizational Actions

Organizational Outcomes

Feedback that Guides Impressions,

Expectations and Behavior

Feedback that Guides Impressions,

Expectations and Behavior

® A Mission Statement is what the organization is and its reason for/to existing

® Multiple uses of mission statements ­ Used for Decision Making and Resource

Allocations ­ Used to Inspire Higher Levels of Performance and

Pride in Association ­ Communicates Organizational Purpose and

Values ­ Enhances Organizational Reputation

® To be the world’s most luxurious hotel with a team dedicated to outstanding personalized service, surpassing guest expectation by providing the ultimate in Arabian Hospitality Experience.

® $2,000 night

® We are a luxury brand whose incredible family of associates puts the soul in hospitality every day. The needs of our guests, associates and owners are in the forefront of everything we do. Through authenticity and innovation, we create unique memorable experiences.

® The first step in creating a mission statement is business definition

® What is our business? ­ Who is being satisfied? (markets) ­ What is being satisfied? (functions provided) ­ How are customers needs satisfied? (capabilities and

technologies)

® Candlewood Hotel Company Inc., owns, operates, franchises and manages business travel hotels. The Company’s hotel properties cater to mid-market and upscale business and personal travelers seeking multiple night stays.

® A sense of what the organization will be in the future

® CEO has primary responsibility for defining vision

® Sometimes a vision is more of a concept than a specific goal

® Microsoft Vision Statement ­ Empowering people through great software – any

time, any place and on any device

® Marriott ­ To be the #1 hospitality company in the world

® Omni Hotels ­ To proudly open doors to the true spirit of a

destination

® Cathay Pacific ­ Our vision is to be the world’s best airline. Being the

best means that we always strive to excel in everything we do.

® The underlying philosophies that guide decisions and behavior in a firm

® Also called core values OR organizational ethics

® CEO and other top managers have the most influence on organizational values

® Also a reflection of societal values

♦ Integrity and fairness ♦ Respect and caring ♦ Diversity ♦ Always learning ---- always teaching ♦ Being “of service” ♦ Teamwork ♦ Excellence Our Core Values communicate the behaviors and attitudes we cherish as we strive to deliver Darden’s Core Purpose, which is “To nourish and delight everyone we serve.”

® I build strong relationships and create Ritz-Carlton guests for life. ® I am always responsive to the expressed and unexpressed wishes and needs of

our guests. ® I am empowered to create unique, memorable and personal experiences for

our guests. ® I understand my role in achieving the Key Success Factors, embracing

Community Footprints and creating The Ritz-Carlton Mystique. ® I continuously seek opportunities to innovate and improve The Ritz-Carlton

experience. ® I own and immediately resolve guest problems. ® I create a work environment of teamwork and lateral service so that the needs

of our guests and each other are met. ® I have the opportunity to continuously learn and grow. ® I am involved in the planning of the work that affects me. ® I am proud of my professional appearance, language and behavior. ® I protect the privacy and security of our guests, my fellow employees and the

company's confidential information and assets. ® I am responsible for uncompromising levels of cleanliness and creating a safe

and accident-free environment.

® Embedded within the concept of organizational values is the notion of social responsibility

® Four Major Components: ­ Economic Responsibilities ­ Legal Responsibilities ­ Moral Obligations ­ Discretionary Responsibilities

® Joins ethical and strategic thinking ® Best possible reason for the actions it takes ® Focused on which stakeholder needs are given

priority ® Mission statements often provide clues

regarding the enterprise strategy of a firm ­ “We focus on satisfying customer needs” ­ “Our goal is to provide a satisfying work environment

in which our employees can grow and develop” ­ “Our primary purpose is to maximize shareholder

returns” ­ “We focus on giving back to the communities in which

we operate”

® Economic Theory ­ The purpose of business organizations is to maximize

profits ® Legal Theory

­ Compliance with laws ensures ethical behavior ® Religious Theory

­ Everyone should act in accordance with religious teachings

® Utilitarian Theory ­ Focus on outcomes from decisions. Everyone should act

in a way that generates the greatest benefits for the largest number of people

® Universalist Theory ­ Focus on the intent of the decision. “Would I be willing for

everyone else in the world to make the same decision?”

® Communicate the values of the corporation to employees and other stakeholders

® Ethics systems are sometimes established to ensure compliance

® Formal systems may not be enough to ensure ethical behavior ­ Often people don’t personalize ethical behavior

® Ethical issues are even more difficult for firms working in more than one country