UofP - MBA580 - DQs - Week Five - 09-25-06

UofP - MBA580 - DQs - Week Five - 09-25-06 - Your initial...

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Your initial response is due in the 2 Main news group by the end of the day 09/26/06. Week 5,DQ1 1. Identify some of the policies that serve as guidelines for actions and decision-making in your company (see Pearce and Robinson, pp.257-261). Are the policies written and formal or unwritten and informal? Pearce and Robinson (2005) dialogue about how creating policies is a way to empower and communicate guidelines to decisions (p. 297). Stewart Title (Stewart) is action and decision- making strong in creating and implementing policies, which augments a strong corporate compliance code of conduct. Furthermore, creating policies designed to control decisions while defining allowable discretion within which operational personnel can execute business activities (Pearce, 2005, p. 297). Stewart has written and formal as well as unwritten and informal policies. Informal, unwritten policies are usually associated with a strategic need for competitive secrecy. Some policies such as promoting from within are widely known and/or expected by employees and implicitly sanctioned by management. Managers and employees often like the latitude granted by unwritten and informal policies (Pearce, 2005). However, such policies may detract from the long-term success of a strategy. Pearce et al. (2005) convey that formal, written policies have at least seven advantages (p. 298): 1. They require managers to think through the policy’s meaning, content, and intended use. 2. They reduce misunderstanding. 3. They make equitable and consistent treatment of problems more likely. 4. They ensure unalterable transmission of policies. 5. They communicate the authorization or sanction of policies more clearly. 6. They supply a convenient and authoritative reference. 7. They systematically enhance indirect control and organization-wide coordination of the key purposes of policies. Stewart’s unwritten, informal policy on hiring from within the corporation is heavily monitored and potential candidates must “reintroduce” themselves to the corporation by formal interviews and updating accomplishments and career track information (Stewart, 2006). Furthermore, Stewart’s code of business conduct and ethics has traditionally embodied such rules regarding individual and peer responsibilities, as well as responsibilities to its employees, policyholders, shareholders and the public. Some of these rules include: Prohibiting conflicts of interest (including protecting Company opportunities); Protecting Stewart’s confidential and proprietary information and that of our policyholders; Treating Stewart’s employees, policyholders, shareholders and competitors fairly; Protection and proper use of company assets; Compliance with laws, rules and regulations (including insider trading laws); and Encouraging the reporting of any unlawful or unethical behavior. Therefore, all written, formal policies at Stewart establish indirect control over independent action
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This note was uploaded on 09/19/2011 for the course MBA 580 taught by Professor Singular during the Spring '11 term at University of Phoenix.

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UofP - MBA580 - DQs - Week Five - 09-25-06 - Your initial...

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