Reply to the two posts with 150-200
Mary
Stewardship in organizations fosters an ecosystem within the business and in the community. A balanced scorecard is necessary to ensure that these organizations are not only financially secure but that they are meeting the expectations of and obligations to the consumer. Balanced scorecards use different perspectives to measure their performance in each area and identify where they need to make changes or enhancements along the way. These perspectives include financial, customer, internal process, and organizational capacity.
Corporations that seek to increase their profits and only their profits display owner leadership qualities by sending them offshore to avoid heavy taxation. The lack of tax money flowing back to the community impacts the ability of the community to offer present and future employees to the organization. Often this practice of hiding earnings from taxation destroys the trust that has been cultivated with the customer. When companies seek to please only their shareholders, other things, such as benefits, suffer. The dissolution of unions hurts communities, with workers initially making union wages having to alter their earnings for lower pay rates and fewer benefits, often with no pension. The responsibility is on the organization now to ensure that they are sustainable as a business within the community they serve (Wartzman, 2014). A balanced scorecard provides the mechanism to measure how the company is meeting the needs of their employees so they can avoid costly turnover and remain attractive to future employees they need as they grow.
Companies that regularly check the pulse of their workforce and their customers are better poised to offer attractive employment packages, retain employees, and innovate their products to exceed their competitors’ offerings in the marketplace. Employee welfare is paramount to keeping the workforce motivated to innovate products. The newly innovated products become more attractive to the community, and the organization remains viable in the marketplace. Steward leadership is necessary to maintain a balance to the ecosystem in which it operates – the external community and the internal workforce.
References
Wartzman, R. (2014, August 29). Corporate Social Responsibility | Whatever Happened to Corporate Stewardship? Harvard Business Review. https://hbr.org/2014/08/whatever-happened-to-corporate-stewardship
Latanya
I feel like when it comes to wise stewardship within an organization. As the Ted talk video stated, you have to think about your organization as a whole—the community’s competitors and supporters. You have to know and understand the organization’s past and not be locked into it. We must appreciate the people who came before us and got through the trenches to make the business and those in the organization get to where they are. “Stewardship: How Leaders Live For Tomorrow: https://youtu.be/bih971-tPAQ” How will the business be successful? As leaders, we must ensure that we care for our people and organization. When it comes to stewardship and having compatible goals as a corporation, I would have to say yes simply because they both are about taking care of what is essential, which is the overall success of the people involved in the organization. Leaders want to see their organization prosper and the team that works in the organization when it comes to a customer’s perspective not being great. The company usually gets feedback on adjusting its business to fit the customer’s needs, whether to cut prices or some company incentives that will drive customers in and bring that perspective back up. This is where the balanced scorecard can come into play—understanding your organization’s needs and working on what needs to be adjusted, whether it is your internal or external customers. Remember that your employees are one of your biggest customers, and your employees’ networking or word of mouth can quickly make or break a company. That is why we, as leaders, ensure that every area of the organization is supported so the company can succeed.
Stewardship: How Leaders Live For Tomorrow. https://youtu.be/bih971-tPAQ