Each Year Fortune Magazine Publishes A Most Admired List ✓ Solved

Each year Fortune magazine publishes a "Most Admired" list

Each year Fortune magazine publishes a "Most Admired" list of the top companies in the United States. Firms are rated on these eight dimensions: innovativeness, quality of management, long-term investment value, social responsibility to the community and the environment, people management, quality of products and services, financial soundness, wise use of corporate assets, and, if international, a ninth dimension: effectiveness in doing business globally. For this assignment, select an organization with which you are familiar. Then, choose one of the eight dimensions used to rate top U.S. companies in which the organization appears to be underperforming.

Compose a PowerPoint presentation (12-15 slides) and record your 7-10-minute presentation using YouTube Video, Loom, or Zoom. Your presentation should address the following: Identify a major issue the organization is facing and in which dimension it is underperforming. Explain the ramifications the underperformance is currently having on the organization. Identify the likely consequence of failure to improve in the selected dimension. Analyze the relevance of the current organizational structure, design, and culture and their influence on organizational effectiveness, especially in relationship to the dimension in which the organization is struggling. Provide citations to support your analysis. Present a plan to bring about necessary improvement using Kotter's 8-step change model. Address possible challenges to the suggested change and your plans for managing those challenges. Explain how different subsystems need to be realigned in order to bring about the change. Detail any lessons learned and evaluate strategies that you as a manager will either avoid or engage in when designing the structure, building culture, and managing change in your organization. Ensure each content slide has supporting citations and specific examples.

While APA style is not required for the body of this assignment, solid academic writing is expected, and in-text citations and references should be presented using APA documentation guidelines.

Paper For Above Instructions

With the ever-changing landscape of the business world, organizations must strive to maintain their competitive edge. One company that has significant recognition in the U.S. is the tech giant, Apple Inc. While Apple is often lauded for its innovativeness, one area where it seems to be underperforming is in the dimension of social responsibility to the community and the environment. Despite its success and global presence, Apple's approach to environmental and social issues has faced criticism.

The ramifications of Apple's underperformance in social responsibility are profound. Customer perception plays a vital role in brand loyalty, and an increasing number of consumers are becoming concerned about the ethical implications of their purchases. A survey by Cone Communications (2017) indicates that 87% of consumers will purchase a product based on a company’s advocacy concerning a social or political issue. If Apple fails to address its shortcomings in social responsibility, it risks losing market share and brand loyalty to competitors that are more socially conscious.

Moreover, the likely consequences of failing to improve in this dimension may involve not only financial repercussions but also reputational damage. Investors are increasingly favoring companies that adopt sustainable practices; thus, neglecting to rectify their social responsibility issues could lead to decreased investment (Eccles et al., 2014). Furthermore, the environmental challenges that Apple faces, particularly regarding e-waste and pollution from manufacturing processes, could result in increased regulatory scrutiny and potential fines, leading to a further decline in financial performance.

The current organizational structure of Apple, which is known for its top-down approach, might be a contributing factor to its shortcomings in social responsibility. The company’s centralized decision-making process can hinder timely responses to social and environmental issues. Additionally, the corporate culture at Apple, which emphasizes innovation and product quality, may overshadow the importance of sustainable operations. To enhance its social responsibility, Apple needs to realign its organizational structure and culture to incorporate values that prioritize ethical practices (Schein, 2010).

Analyzing Apple's structure reveals a need for a shift towards a more decentralized model that encourages collaboration and faster decision-making processes. This change could help foster a culture that is more attentive to social and environmental responsibilities, thereby improving organizational effectiveness. Leaders at Apple should emphasize ethical responsibilities as a core value, integrating social responsibility into their business strategy.

Applying Kotter's 8-step change model can facilitate the necessary improvements at Apple. The first step involves creating a sense of urgency around social responsibility issues. This can be achieved by presenting data on the implications of ignoring these areas to stakeholders. Next, forming a guiding coalition consisting of leaders from various departments will ensure a multi-faceted approach to the change process.

The third step is to develop a vision and strategy that outlines the goals Apple hopes to achieve concerning social responsibility. This may include reducing carbon emissions, improving working conditions in supply chains, and utilizing sustainable materials. Communicating this vision widely within the organization is essential to foster buy-in from employees at all levels and to create an environment where social responsibility is prioritized.

Steps five through seven include empowering broad-based action by removing obstacles to change, generating short-term wins by achieving minor milestones, and consolidating gains to produce more change. This will encourage the workforce to embrace the new initiatives and recognize that positive social impact can lead to enhanced financial performance. Lastly, anchoring new approaches in the culture will require reinforcement through recognition and reward systems that highlight and support behaviors demonstrating social responsibility.

Despite the outlined plan, challenges are anticipated. Resistance to change is common, as employees may be accustomed to existing practices that prioritize profit over social responsibility. To address these challenges, Apple must invest in training and awareness programs that articulate the importance of social responsibility. Additionally, leadership must remain committed to monitoring progress and adjusting strategies as necessary to maintain momentum.

Realigning different subsystems is crucial to effecting this change. The human resources department should implement hiring practices that prioritize candidates with a strong commitment to social and environmental issues. Marketing strategies must also evolve to better reflect Apple’s commitment to social responsibility, ensuring that messaging resonates with consumers. Coordination between these subsystems will help embed the principles of social responsibility into the organizational fabric.

Lessons learned through this analysis underscore the importance of leadership commitment to instilling a culture of social responsibility. Managers should actively engage with employees about the rationale behind adopting revised values and practices. They must also evaluate past strategies to determine which tactics were ineffective and which should be leveraged in the future.

In conclusion, as Apple Inc. navigates its journey towards enhanced social responsibility, it is essential that the organization prioritizes change in structure and culture. By utilizing Kotter's 8-step model, addressing potential challenges, and realigning subsystems, Apple can improve its standing in the Fortune's "Most Admired" list while fostering a culture that not only pursues profit but also values social and environmental stewardship.

References

• Cone Communications. (2017). 2017 Cone Communications CSR Study. Retrieved from http://www.conecomm.com/research-blog/2017-cone-communications-csr-study
• Eccles, R. G., Ioannou, I., & Serafeim, G. (2014). The impact of corporate sustainability on organizational processes and performance. Management Science, 60(11), 2835-2857.
• Schein, E. H. (2010). Organizational Culture and Leadership (4th ed.). San Francisco, CA: Jossey-Bass.
• Graham, J. W. (1991). An essay on organizational citizenship behavior. Employee Responsibilities and Rights Journal, 4(4), 249-270.
• Porter, M. E., & Kramer, M. R. (2006). Strategy and society: The link between competitive advantage and corporate social responsibility. Harvard Business Review, 84(12), 78-92.
• Freeman, R. E. (1984). Strategic Management: A Stakeholder Approach. Boston: Pitman.
• Harrison, J. S., & Wicks, A. C. (2013). Stakeholder theory, value, and firm performance. Business Ethics Quarterly, 23(1), 97-124.
• Savitz, A. W., & Weber, K. (2013). The Triple Bottom Line: How Today's Best-Run Companies Are Achieving Economic, Social and Environmental Success—and How You Can Too. San Francisco: Jossey-Bass.
• Elkington, J. (1999). Cannibals with Forks: The Triple Bottom Line of 21st Century Business. Gabriola Island, CA: New Society Publishers.
• Kramer, M. R., & Porter, M. E. (2011). Creating shared value. Harvard Business Review, 89(1-2), 62-77.