The 4th social commitment is Discretionary responsibilities for strategic managers.
Discretionary responsibilities are those that are voluntarily assumed by a business organization. They include public relations activities, good citizenship, and full corporate social responsibility. Through public relations activities, managers attempt to enhance the image of their companies, products, and services by supporting worthy causes. This form of discretionary responsibility has a self-serving dimension.
Discretionary responsibilities: Responsibilities voluntarily assumed by a business, such as public relations, good citizenship, and full corporate responsibility.
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- Foreign subsidiary
A direct investment in a foreign country that involves setting up a separate and independent facility or office is called foreign subsidiary.
- Management by objectives
Management by objectives (MBO) is a process of setting mutually agreed upon goals and using those goals to evaluate employee performance.
Divestiture means the sale or removal of a business/firm or a major component . It refers to spinning off a financially and managerially independent company or selling it outright.
- Short-term objectives
Short-term objectives are measurable outcomes achievable or intended to be achieved in one year or less.
- Regiocentric Orientation
A parent company blend its own predisposition with those of its inter national units to develop origin- sensitive strategies
- Service organizations
Service organizations that produce nonphysical products in the form of services.
- Situational leadership theory
Paul Hersey and Ken Blanchard developed a leadership theory that has gained a strong following among management development