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Essay / Research Paper Abstract
This 7 page paper looks forward into the twenty-first century, considering what strategies the writer would like to see adopted by a firm. In the paper strategies include stakeholder approaches, the use of information technology, people focused goals and a very different flexible network structure, better suited to meet and respond to modern commercial needs. The bibliography cites 6 sources.
Page Count:
7 pages (~225 words per page)
File: TS14_TEstra21.rtf
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Unformatted sample text from the term paper:
their external and internal performance. The vision of this writer is that in the future, strategy decisions will be wider ranging, take a stakeholder approach that does not contradict the
need for shareholder profits, will be people centric, meaning it will focus on both customers and employees, will utilize technology and will embody the need for flexibility with team based
structures. The first part of this strategy is the values that it will reflect. Corporate governance is generally divided into two schools, that of shareholder wealth maximization (SWM) and
that of corporate wealth maximization (CWM). These are not particularly new schools of thought and many of the arguments they embody are not new. However, the predominant paradigm has been
that of the shareholder wealth maximization model. In terms of general approach, as well as strategy, my ideal company of the future would reject this approach and adopt a corporate
wealth maximization model. The corporate wealth maximization model adopts a different approach. Stonehill and Dullum (1990) have observed that in companies which
follow this mode of operation there appears to be a direct clash with shareholder profit maximization. In this model the student can still see the shareholder as a primary stakeholder
but not the only valid stakeholder. Corporate wealth maximization recognizes the validity of many other stakeholders from employees and local residents to
the customers and suppliers of the organization (Pederson et al, 1997). The job of management, and therefore the type of corporate governance, reflects this very different attitude. The managements responsibility
is that of a balancing act, considering and bringing all the different stakeholder needs into some form of equilibrium (Pederson et al, 1997). Social responsibility is the a major concern
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