The core values in business ethics
|✅ Paper Type: Free Essay||✅ Subject: Business|
|✅ Wordcount: 1229 words||✅ Published: 1st Jan 2015|
Each organisation needs to have some core values which are based on the ethical, cultural, environmental, social and business background of the concerned organisation; Values are highly motivational principles that make an identification for that organisation, they are considered as generalized believes and motivations that what is going on and what is desirable that how individuals have to behave within organisation.
The requirement from this task is to generate a report which highlights the values needed in the selected organisation, and also describe the ethical, cultural, environmental, social and business background of the selected organisation.
Report on PTCL Core Values
Values statement define how the people have to behave with each other in the organisation, this describe how the organisation management and employees will contact and behave with customers, community, supplier and all the stakeholders associated with their business. It describe actions which are fundamentals held by the management and persons within the organisation.
Need for Core Values at PTCL
Well structured organizations identify and develop a clear and open understanding of what values they need to have in the organizational. Makes their employees clear on what is needed from them in the term of organizational values, what will be the impact of those values on the organization culture and what benefits they will have by adapting those cultural values.
Background of PTCL
This section of this report contains information about the ethical, cultural, environmental, social and business background of PTCL.
PTCL was founded just after the independence of Pakistan in 1947; the company starts their work with very limited resources and achieved so many milestones in its life time. There was very extreme crises when the government of Pakistan decide to privatize the company, all the stakeholders of the company take this into account with different consideration, some appropriate it and some went on strike and there was a big confusion on the change process, and the organization image was badly affected among their employees due to effect on the cultural, environmental and social aspect of the organisation.
In the year 2006 the change process was accomplished very successfully by the bright vision and continues efforts of the management of PTCL, which results into the privatization of PTCL. The Etisalat take over the management of the company with 26 % share, they introduce a lot of changes into the structure, management and the operation
As recently as in July 2006, privatization process took place in Pakistanâ€™s largest telecommunication company PTCL. The company still is the largest but the growth that this company has shown is by far larger than in some years before.
PTCL has partially been privatized, 26% of the PTCL shares are now with a Dubai based company Etisalat. Etisalat though not has as significant shares yet it is controlling the management of the PTCL. Under its management, PTCL is going efficient and well enough to remain at the top.
Privatization of the PTCL
The management of PTCL was planning the privatization of the organisation since 1991 and they were putting efforts to make the transition in the best possible way, the change process was officially initiated in 2006 and was successfully after passing out so many hurdles.
The management of organisation was successful to grab the benefits of the organisational change; it brings prosperity, advancement in the underlying technology, and all the departments of organisation. There were a lot of problems initially when the labor union went on strike against the decision of privatization and the management was good enough to take all the stakeholders on board and make the change process attractive for all the stakeholders involved.
After the successful management of organisational change process the organisation is making progress in their organisational structure, products and services which can be easily understand by the following diagram.
Values Need at PTCL
After a comprehensive discussion on the organisational structure, product and services, the history and background, the business objectives, stakeholders analysis, and the future vision of the company, I will suggest PTCL management to adapt the following core values which will help them in the future growth and maintaining their position in the age of competitive rivalry.
Professional Integrity: Integrity means the code of expected moral, honesty and incorruptibility of individuals in the organization, according to Websterâ€™s Dictionary the character of an individual can be very easily explained from what he or she do when that individual is alone. By having professional integrity in the organisation PTCL will help the management to differentiate themselves from their competitors and together all the management and employees will achieve the organisational goals and objectives.
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Customer Satisfaction: By having better customer services organisation can gain the benefits of customer satisfaction, they how much customers have confidence in their business. Customer satisfaction is included in the strategy of PTCL and they have invested huge amount to improve the way they are serving their customers as high customer values is the integral part of the customer value proposition at PTCL. The approaches they have made towards achieving high customer satisfaction level also include â€œOne stop shopâ€ which makes all the services available to all customers at one shop. Now the PTCL need to obtain certain values in the field of customer satisfaction in order to make the process much better and attracting for the existing and new customers.
Teamwork: is the most needed value in each organisation especially in large organizations operating in very a very competitive environment. PTCL management needs to improve the teamwork among different units of the organization. Teamwork is improved when the groups are organized and well structured, and groups change their behavior towards the achievement of their team / group objectives. The mostly adaptable way to improve the teamwork is to apply the principles of key performance indicators identified by the management of the organisation.
Teamwork is very essential activity in every business is the collective effort by a group of individuals to achieve a collective goal. To measure the achievement of the group there must milestones to evaluate the progress towards the completion of the task or the achievement of team goals and objectives. The most important way to improve team work is to change the team behavior and make them understanding how to work effectively and efficiently in a team.
PTCL management can benefit from the following performance management steps, in order to set targets for a team and then evaluate their success.
Following are the main steps to be considered.
Make sure the identification of the Target behaviors
What are the current behavior of the team members
Analysis of the gap between the current and target team behavior and how this gap will be minimized between these two.
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