BSS064-6 Leading and Managing Organisational Resources Assignment Sample
Module code and Title: BSS064-6 Leading and Managing Organisational Resources Assignment Sample
To
The CEO
From
Henry Stone
Subject line:
Date: 11.10.2022
Respected Sir,
Introduction and purpose
This mail will be in taking the entire scenario of the corporate governance of Facebook, and hence will be providing a discrete report on the ethical and stakeholder requirement management by critical evaluation. Here, the importance of corporate governance is visible as the corporate system manages and decides on the principle of accountability, with the management of the stakeholders allocating all the possible responsibilities (Solomon, 2020).
Corporate governance is a term that defines the different issues, rules, or guidelines or a trail of principles that the organisation needs to follow up with (The Chartered Governance Institute UK & Ireland. 2022). The impact of corporate governance on the company of Facebook is studied here, there are different peripheral terms related to corporate governance that need examination, such as board design and auditing system (Kovermann and Velte, 2019).
Critical evaluation and analysis
The requirements of the stakeholders now need to be clarified, as Facebook holds the stakeholder management as a serious affair to be certain, by taking into account ethical behaviour. In the same line of thought, the corporate governance strategy for the stakeholder management for Facebook requires proper clarification by letting the reader understand how Facebook maintains stakeholder requirements.
Facebook may take on different projects with different other companies, where the traditional leadership style which is more dependent on the motivation of the different people by creating a shared guidance has been explored. and share valuation information relying on.
Corporate Governance for identification of stakeholder’s needs
To start with corporate governance, first, the idea of corporate governance needs to be explained with effect to the evaluation of the concepts in a regular format. In Facebook, which is currently known as Meta, corporate governance is the term that is inclusive of several guidelines and a list of different principles which need to be followed and maintained. The mention must be made of law compliance and the follow-up with the Board of Directors of Facebook to realign with, and manage the entire stakeholder valuation (Meta. 2022).
Firstly, the corporate governance of Facebook may be defined as their caring about the direct stakeholders, as any kind of program or management principles are reviewed and studied with effect to the Board of Directors’ approval (Meta. 2022). In a briefer choice of words, the trust in the stakeholders, the Human Resource (HR) management problem, and making a more flexible work structure had been of concern.
Facebook takes on to manage the stakeholders by firstly following the hierarchy managerial structure whereby the Lead Independent Director of the company makes on to fulfil and get on to the top position of the superior committee (Meta. 2022). The benefit that is received from following a hierarchical system of management is aligned with the tasks of the senior management and there is much more accountability at the senior level than at the lower levels (Anzengruber et al., 2017).
Moreover, workshops regarding the stakeholder needs are a great thing to implement, such as creating a Board Meeting and making most of the company staff present if the meeting represents the stakeholder requirement.
Facebook follows the corporate governance structure more diligently by creating a system of letting the activist group or the creation of a dedicated community for the management of the stakeholders There is a need to present multiple stakeholders in a project that Facebook takes, and the Life Cycle Period of the project needs to be ascertained to retain different stakeholders (SHOLIHAH et al., 2019). Moreover, the stakeholder management of needs by Facebook through the corporate governance machinery is directly related to academics and creates a knowledge-driven approach (Meta. 2022).
Research assistance for ethical behaviour and the consideration for ethics need to be verified, as stakeholders are more concerned with the ethical faculty of an organisation clearly (Callari et al., 2020). Stakeholder requirements by Facebook have been recognised as feedback generation and to know any kind of policy changes or updates on the policy requirements of the company, which is a great affair (Meta. 2022).
Corporate Social Responsibility (CSR) of many modern companies has been a tool that facilitates the company for proper functioning and that maintains the required form to create a stakeholder requirement abruptly (Berkowitz et al., 2017). By referring to the academic support, the citation on a published paper of 2020 shows that there is a strong relationship between the pressure that the corporate stakeholders create, and the corporate governance strategy that is created (Wang et al., 2020).
Thus, the mark may be made that when multiple stakeholders are involved in the analysis, the improper gap that is created between the stakeholders is a concern that needs to be addressed (Chen et al., 2022). Facebook made the reviewing of the “speech policy” and finalised the remark to be viewed that the complexity of the speech that the company may allow for the stakeholders, remain discreet and have more cogency (Meta. 2022).
The company Facebook has faced its fair share of issues regarding financial, sustainability and ethical practices at the board level which has been mitigated through strategic decisions taken to address the issues. There have been issues regarding financial scams through fake emails from Facebook which has led fraudsters in stealing the bank account details of the users and being victims of financial fraud (Alkhalil et al., 2021).
There have been reports from users of Facebook over providing access to banking and financial services on the social media platform which has led to a rise in scam victims and finances being stolen (Askia et al., 2022). However, Facebook has taken the initiative of launching a new tool Fraud Smart in raising awareness about incidents of fraud which may be a way to eliminate the reign of financial issues in the Corporate Governance of the company (Aarvik, 2020).
Facebook may implement Agency theory in handling the financial issues in Corporate Governance which may help a third-party agency to work on behalf of the company in analysing the issue and mitigating the financial scams.
Moreover, Facebook has faced issues with unethical practices regarding the leaking of private information of users and ignored warnings from employees about the breaching of user privacy in the organisational function. The Corporate Governance system in the company has acted quickly against the lawsuits presented over the violation of ethics towards user privacy which has led to the company’s investments towards the development of strong security applications in the system (Trautman, 2019).
Additionally, Facebook has also faced issues regarding sustainability issues which have been the result of increasing network effect due to the increasing number of users on the social media platform. Facebook has applied stakeholder theory to understanding the stakeholder perception over mitigating the sustainability issue and fostering sustainable development in the given market to enhance consumer value (She and Michelon, 2019).
Leadership to maintain the ethics of business and sustainability.
There are five basic principles which the regenerative kind of leadership follows, which are taking the life of an employee as a situational variable, creating information objectives, and acknowledging that the relationships are a complex set of interactions. These five principles of regenerative leadership may be explored as in the case of Facebook definitely, where the company creates a place of security for the employees, which is following the life affirmation principle.
Regenerative leadership in the digital age had been quite popular in terms of long-term sustainability and progress for the employee condition over a longer period, to say specifically. As per the research papers, regenerative leadership may be thought of as a long-term developmental plan for constant sustainability and makes human psychological awareness better and more grounded (Gibbons, 2020).
The Chief Executive Officer of Facebook, Mark Zuckerberg is said to follow the transformational norm of leadership which aims to recreate and direct the passion of the employees towards work objectives. There are different kinds of theories available on transformational leadership to be sure of, and the factors such as employer characteristics, traits present, the degree of inclusivity and the professional level are all taken care of in the same aspect (Sun et al., 2017).
According to the different reports and the publishers of academic journals, transformational leadership makes people feel that their individual opinion is being acclaimed, and a spirit of inclusiveness is self-sufficient to bring in internal change. The traditional leadership is more inclined towards the creation of the suitable form of governance and thus makes it to build a more ethical kind of leadership, which may not be applicable.
The CEO of Facebook has made the solemn understanding to create a powerful team, as is evident from the information that Mark Zuckerberg focuses more on the treatment of the subject matter and thus the traditional form of leadership of creating the visionary model is applicable. On a briefer note, the argument that may be followed up in the same regard may say that Mark Zuckerberg has made a system of typical user interconnectedness and thus has created a prototype of alluring performance (Moran, 2020).
In the age of a digital storm and the variation in the entire digital scenario, the case with Facebook is not so much different as the other companies, where the traditional leadership has been avoided by Mark Zuckerberg for the hardbound competition with the other tech companies. The digital leadership of Facebook is examined through a professional lens, and it has just been found that the integration of the four social media messaging systems has been made possible by Facebook’s integrating leadership style (Tirole, 2020).
Facebook has been occasionally taking on the responsibility of causing all kinds of employee distress and the problem that has surfaced amid the Covid-19 crisis, where constant digital news sparked by Facebook has been a plus (Masullo et al., 2022). This had been possible because of the system of a fluid mechanism as received by Facebook in recent times, where the traditional leadership such as autocratic leadership do not apply well in modern organisations.
In crises, bounded optimism and remaining calm have been observed in the CEO of Facebook, where the leadership roles need a certain degree of optimism and a clear stance of getting the employees to be united with a strong goal (Brassey and Kruyt, 2020).
The question may be aroused on the exploration of the authentic leadership style in addition to business sustainability, where the definition of contemporary leadership in technological sector stands to value and ethics and a set of more coherent and more transparent lies. If the contemporary leadership in technological sector is discussed directly, Obama’s leadership style may be discussed as a study in an academic journal, where the leadership style of Obama has been identified to be more of a transformational leadership style (Hargrove et al., 2017).
In a more concentrated manner, the difference between management and leadership needs to be discussed quite closely, as management deals with the degree of problem and leadership is about dealing with the variation (Kotter, 2017). Authentic leadership thus may be confused with charismatic leadership, where both have the difference in appearance and how authentic leadership acts for ethics, and contingency leadership acts to clear any complex situation.
The contemporary leadership is the one in which the leadership is more influenced by acting as a collaboration third party in technological sector, and is a believer in the creation of network-oriented platforms. Authentic leadership needs to be separated from servant leadership and distributed leadership in the same thought because the servant type believes in letting employees’ control while distributed believes in immense moderation.
Conclusion
Thus, it has been found that the corporate governance of Facebook had been immensely modifying with every year, and each passing year had been focussing more on the leadership style that is suitable for the company. Facebook makes the fact clear that the stakeholders of Facebook are the people that are directly or indirectly related to the company by a clear route of directional objective and makes a series of engagements with the public (Meta. 2022).
Facebook has faced issues regarding sustainability breaches, financial scams and ethical issues regarding the violation of the privacy of users which have led to the company losing brand value against the global target audience. However, the Corporate Governance in the company has acted quickly in taking initiatives and aligning theories such as Agency theory and stakeholder theory to understand the requirements of the consumers in eliminating the issues at the board level.
The company has also included strengthening security breaches in the system with the help of technologies such as AI to help gain a data-driven response from the users about the issues being faced and the interest of the stakeholders in meeting the issues. The analysis of the issues faced in terms of sustainability, ethics and finances have been mitigated by the Board of directors in the corporate governance of the company to regain the lost reputation in the industry.
Recommendations
Now, the stakeholder of Facebook needs to be mentioned because of the task being to define the importance of corporate governance, analyse stakeholder needs and define the functionalities of stakeholders (The Chartered Governance Institute UK & Ireland. 2022). Thus, a set of recommendations need to be described down:
- CIPD have made short-term remediation based on the public profile of the company of Facebook, as Facebook had been remaining as a listed company on the public stock exchange, where the company needs to revalue the remediation.
- Ethics and principle-oriented work structure had been declared by CIPD in the United Kingdom (UK) for long-term corporate governance system recommendations, as human asset retention and progression have been focussed, which Facebook needs to accommodate
- Corporate governance here is not the appropriate tool that may bring change in the organisation, because corporate governance is more inclined with the different responsibilities and inspection on the execution efficiency of such. Thus, Facebook needs to make sure of the policies of corporate governance that may be suitable for the entire industry purpose, such as including work-from-home code.
- Furthermore, there is a policy of transparency that the corporate governance system of Facebook needs to follow to inform the different stakeholders of the company, and maintain the terms required of making the stakeholder remain private (Meta. 2022).
References
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Alkhalil, Z., Hewage, C., Nawaf, L. and Khan, I., 2021. Phishing attacks: A recent comprehensive study and a new anatomy. Frontiers in Computer Science, 3, p.563060.
Anzengruber, J., Goetz, M.A., Nold, H. and Woelfle, M., 2017. Effectiveness of managerial capabilities at different hierarchical levels. Journal of Managerial Psychology.
Askia, K.M., Roland, K. and Boussim, I., 2022, May. Preliminary Investigation of Mobile Banking Attacks in West Africa: Feedback from Orange Money Customers in Burkina Faso. In e-Infrastructure and e-Services for Developing Countries: 13th EAI International Conference, AFRICOMM 2021, Zanzibar, Tanzania, December 1-3, 2021, Proceedings (Vol. 443, p. 15). Springer Nature.
Berkowitz, H., Bucheli, M. and Dumez, H., 2017. Collectively designing CSR through meta-organizations: A case study of the oil and gas industry. Journal of Business Ethics, 143(4), pp.753-769.
Brassey, J. and Kruyt, M., 2020. How to demonstrate calm and optimism in a crisis. McKinsey & Company, 11(2), pp.112-131.
Callari, T.C., Moody, L., Saunders, J., Ward, G. and Woodley, J., 2020. Stakeholder requirements for an ethical framework to sustain multiple research projects in an emerging living lab involving older adults. Journal of Empirical Research on Human Research Ethics, 15(3), pp.111-127.
Chen, V.Z., Zhong, M., Duran, P. and Sauerwald, S., 2022. Multi-Stakeholder Benefits: A Meta-Analysis of Different Theories. Business & Society, Accepted.
Gibbons, L.V., 2020. Regenerative—The new sustainable?. Sustainability, 12(13), p.5483.
Hargrove, D., Duncan, P.A., Green, M.T., Salter, C. and Trayhan, J.M., 2017. Obama vs. Clinton: A study exploring the impact of leadership language. In Diversity, Conflict, and Leadership (pp. 95-116). Routledge.
Kotter, J.P., 2017. What leaders really do. In Leadership Perspectives (pp. 7-15). Routledge.
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Masullo, G.M., Jennings, J. and Stroud, N.J., 2022. “Crisis coverage gap”: the divide between public interest and local news’ facebook posts about COVID-19 in the United States. Digital Journalism, 10(6), pp.1037-1058.
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SHOLIHAH, M.A., Mitake, Y., Nakada, T. and Shimomura, Y., 2019. Innovative design method for a valuable product-service system: concretizing multi-stakeholder requirements. Journal of Advanced Mechanical Design, Systems, and Manufacturing, 13(5), pp.JAMDSM0091-JAMDSM0091.
Solomon, J., 2020. Corporate governance and accountability. John Wiley & Sons.
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Tirole, J., 2020. Competition and the industrial challenge for the digital age. IFS Deaton Review on Inequalities in.
Trautman, L.J., 2019. Governance of the Facebook Privacy Crisis. Pitt. J. Tech. L. & Pol’y, 20, p.43.
Wang, L., Li, W. and Qi, L., 2020. Stakeholder pressures and corporate environmental strategies: A meta-analysis. Sustainability, 12(3), p.1172.
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