How Great Companies Think Differently

Strategic Management How slap-up Companies conceive of Differently Making money has yen been the ultimate contain of a business. This capitalism vision has influenced the majority of corporations limit their goals in generating the highest wage and returns to owners, regardless the health and safety of employees, the environment, and general public. An institutional logic, therefore, has been raised by professor of Harvard Business civilise-Kanter. Unlike traditional practices, this logic addressed a successful comp whatsoever is a vehicle for enhancing societal welf bes, rather than further a machine to make money.Not only disregard most well-established companies contend sound returns to shareholders, but also build long-lasting institutions. In high-performing business, twain institutional logic and economic logic are deprecative to trading operations and strategic decision making. There are six fields mentioned in the passage, which are a usual collaborative purpose, a let focus, delirious engagement, partnering with society, innovation, and self- organization-changing corporate and leadership behavior at all, as well as constructing the base of a solid and stable competitive advantage.Effective governing body that ties the decisions of managers up with the interests of shareholders cease help come a competitive advantage. (Ireland, P. 250) The article, however, suggests a different way of governing the corporate, which I think is more comprehensive to contrive a sustained institution. In order to ensure continuous returns, a company need to empower the employees, engage emotion, lead based on esteem, and contribute to related community. Corporate social business, actually, should be internalized as the governance mechanism.As far as the business fag end offer, it is aimed at satisfying the take of customers and continuous value creation. A company, therefore, should create an identity, which can reflect the standing(a) values, for the people to recognize what it is and how it will achieve. For example in Hong Kong, wait on Seng entrust has a non-profit educational institution called flow Sang School of avocation in Shatin. It is aimed at providing professional business education and to equip staff office with capability, solicitude, conscientiousness and creativity.It aligns the goals of Hang Seng Bank in pursuit of excellence for the customers and common good for Hong Kong society. It is wise for a business to focus on long term sustainable development by performing ethical roles to society. When Hang Seng Bank educates and nurtures the next generations, it can also benefits from recruitment of quality employees from Hang Sang School of Commerce. This secures the future development of Hang Seng Bank, which would keep personnel casualty with its ultimate goals. The morale of the employees, indeed, is a key determined factor for a successful corporate.In Hang Sang School of Commerce, it is obvious that all teachers neediness to educate the best studentsto get the more As, so that they can also be rewarded from promotion and bonus. Associated with social enterprise is also critical to build an enduring institution. Through demonstrating the companys commitment to furthering the development of the countries, the company can get supports from public and know more about the preferences of the residents. Standard hire Bank (Hong Kong), holds marathon races every year, demonstrating the core value of Hong Kongdiligence.Honestly, Standard undertake has customized services with high efficiency and effectiveness. It has won numerous awards in Hong Kong and Asia, much(prenominal) as best employee engagement, bet retail bank and so on. It would probably the attributes of intensive involvement in social affairs. Extending the corporate social responsibility in a creative way can explore current business opportunities. There is annual Employee Volunteering Month in Standard leased to encoura ge the staff in taking part in any kind of volunteering services, such as drum event with special educational needs students at Shatin Public School.The interaction of corporate individuals with society can further institution-building goals by the way of expressing corporate values and producing valuable learning. By devolving authority and responsibility to employees, an institution can benefit from self-discipline of employees their own. When the jobs are controlled by themselves, employees are more willing to devote their greatest efforts to the company. As a result, the corporate can also gain from some merry ideas and maximum fulfillment of employees.To conclude, this article is worth for reading that it proposed building an enduring institution, rather than a short-sighted profit-making machine. Success is accumulated from every drop of homosexual effort. Laying the groundwork of social responsibility can reciprocally develop a sustained corporation. (Total 726 words) Works Cited Ireland, R. D. The Management of Strategy Concepts. 9th ed. / R. Duane Ireland, Robert E. Hoskisson, Michael A. Hitt. ed. Singapore South-Western/Cengage Learning, 2011. Print. Kanter, Rosabeth Moss. How Great Companies Think Differently. Harvard Business Review89. 11 (2011) 66-78.Business Source Complete. Web. 19 Nov. 2012. Corporate responsibility Hang Seng Bank. n. d. Web. 26 Nov. 2012. http//bank. hangseng. com/1/2/about-us/corporate-responsibility/corporate-responsibility Corporate Social duty Hong Kong Standard charter Bank (Hong Kong) Limited. n. d. Web. 26 Nov. 2012. http//www. standardchartered. com. hk/sustainability/en/ Standard Chartered drums up Employee Volunteering Month By Visiting Special Needs School Standard Chartered Bank (Hong Kong) Limited. 8 May. 2012. Web. 26 Nov. 2012. http//www. standardchartered. com. hk/news/2012/press_20120509. pdf