Contemporary Issues For Management Business -Myassignmenthelp.Com

Question: Discuss about the Contemporary Issues For Management Business. Answer: Introduction This report considered the organization, Petroleum Development Oman (PDO), which is the country's leading company for crude oil production and natural gas supply (Pdo.co.om 2018). The government of Oman owns 60% of the PDO and the rest of the part of the organization is obtained 34% by Royal Dutch Shell, 4% by Total and 2% by Partex (Pdo.co.om 2018). The concerned organization has 130 producing oil fields, 8,000 active wells and 14 producing gas field (Pdo.co.om 2018). The organization employed a total of 8500 diversified workforce which comprised of people from 64 different nationalities (Pdo.co.om 2018). PDO have to manage this large diversified workforce so that all of them can collaboratively work for obtaining the organizational objectives. Petroleum Development Oman (PDO) give equal chances to men and women based on their skills as a result, out of the 8500 employee, more than 1,000 employees are women and 4 women also get the opportunity to perform the role of member of the Ma naging Directors Committee (MDC) (Pdo.co.om 2018). The organization also has Diversity and Inclusion (DI) team that is controlled by the Managing Directors and six members of the Managing Directors Committee that maintains the aspect of diversity in the workplace. In this business report, the strategies for managing the business ethics will be highlighted from the perspective of the considered organization that is Petroleum Development Oman (PDO). The cultural and leadership role in the company will be assessed that addressed the components of setting standard of ethical behavior, managing stakeholders relations and assessment of ethical performance. These aspects are also supported with relevant examples. Moreover, the diversity management program of the PDO will also be demonstrated followed with evaluation of basic issues of managing diversified employees. These findings of the discussion are then presented under the conclusion section which is also accompanied with recommendations for overcoming the identified issues. Discussion of business ethics management Strategies that companies utilizes for managing business ethics Carroll and Buchholtz (2014) highlighted that contemporary companies consider managing business ethics is an associated behaviors and the managers are also emphasized on standard management practices. Moreover, these organizations also develop ethics program for demonstrating the values to appropriate behaviors through codes of ethics, generate lists of ethical values, generate policies, procedures for ethics and give training to the employee on ethical behavior (Trevino and Nelson 2016). Bowie (2017) furthermore stated that organization also assesses the possible ethical dilemmas according to the business functions and avoid their occurrence of the ethical issues in the first place. In addition to that, the ethical decisions include all the stakeholders and make the decision in public so that transparency in the workplace can be maintained (Weiss 2014). Pearson (2017) portrays that management integrate their management practices with ethics management during strategic planning. Last ly, the most important aspect of the ethics management in the business is development of cross-functional teams while formulating and incorporating ethics management program (Carroll and Buchholtz 2014). Petroleum Development Oman (PDO) considers ethics management in the personal policies, safety codes and manpower development programs (Pdo.co.om 2018). The ethical principal based on which the Omani society is founded is utilized for developing the statement of General Business Principles. Thus, the nations respect is also maintained through the organizational policies of PDO. The organization also includes shareholders, employees and business partners in the formulation of the ethical principle (Pdo.co.om 2018). Apart from the core business practices, the organization has developed code of conduct that highlights highest standards of honesty, integrity, fairness in the aspects of people and safety, corrupt practices, safeguarding of the organizational assets and information, communication management and international trade (Pdo.co.om 2018). Cultural and leadership role and strategy of an organization to maintain business ethics The leaders of the PDO develop legal and ethical norms with shareholders, employees and stakeholders, with whom the organization is associated to do business. Moreover, there are series of standard practices that the leaders of the PDO incorporates- Setting standards of ethical behaviors The PDO establishes some standards that highlight the ethical behavior for their organization. The ethical behavior standards include equal behavior with all the employees irrespective of their different cultural and transitional beliefs (Minnee et al. 2013). PDO also give chances to men and women in their organization (Pdo.co.om 2018). The company also offers training and career development options to their employees and behaves well with all of them. (Matriano and Suguku 2015) highlighted that PDO officials strive for excellence and allow employees to take initiatives for implementing innovations. All the organization regulations and policies are shared with the employees and all the remaining stakeholders and in this way; transparency is maintained properly in the workplace. The concerned organization endeavors to disclose information about the activities to interested parties (Weiss 2014). PDO also takes accountability for all the actions taken by the employees (Pdo.co.om 2018). Trevino and Nelson (2016) thus stated that in contemporary organizations leaders celebrate the success as well as the failure so the employees and provide the employee a positive feedback so that they can always be motivate for obtaining their organizational goals. Managing stakeholders relations Warner and Sullivan (2017) highlighted that in order to manage the stakeholders relations, public relations must have to be included. Bridoux and Stoelhorst (2014) however, argued that apart from the incorporation of public relations, correspondence with the government policies should also be considered. This will allow the organization to proceed with their operational functionalities in accordance to the nations obligations. The Petroleum Development Oman (PDO) deals with the energy supply and have its 60% the stake owned by the Government of Oman considered public relations and correspondence with the government policies for ensuring the corporation with key requirements of the relationship with stakeholders (Weiss 2014). Taken for instance, PDO also considers stakeholder engagement plan that includes the MDC and Functional Directors. These functioning bodies rank the stakeholders according to their priority in the business like government, shareholders, suppliers and contactors and community people (Garbie 2016). The prioritized lists allow the PDO to formulate the engagement plan. Image 1: Stakeholder Engagement management (Source: Bridoux and Stoelhorst 2014) Assessing ethical performance The PDO evaluates the ethical performance of the employees and the management through their individual performance and group performance (Gyrd-Jones and Kornum 2013). Crane and Matten (2016) stated that the performance of the person is also classified into two aspects- legally mandated and discretionary. PDO is an organization that deals with the oil and gas and energy supply to the users, the organization also measure the ethical performance of the organization by keeping track of the lost numberof workdays due to fatalities. The measurement also includes the behavior of the employee towards each other along with measuring the number of employee bullying, voluntary turnover and internal complaints (Weiss 2014). Discussion of diversity management program Diversity management program Harvey and Allard (2015) stated that the variety of differences between people working in the same organization is known as workplace diversity. Moreover, strategy of using best practices so that people from diverse culture and tradition intends to work for a single organization is referred to as diversity management. The diversity management program in the PDO is maintained by Diversity and Inclusion team (Madera 2013). The diversity management team of the organization also has women in the committee. Their diversity management in the organization involves considering the diversity management as a critical business activity, valuing the braid range of the cultural and personal differences among the people, respecting each employee, provision of equal opportunity, offering a trustful base that allow the employees to share their concern without any hesitation and demonstrating fairness and respect in the interaction with the external stakeholders (Cole and Salimath 2013). The statistics shows that the Omanisation rate is 77% and out of 8789 employees, 6772 are the Oman employees and the rest of the 2017 employees, belongs from other culture (Pdo.co.om 2018). The report also represents that out of total 935 women employees, 98 are from other nations and remaining 837 employees are Omani (Pdo.co.om 2018). In addition to that, the women are also offers with management roles and this can be witnessed through the fact that 4 Omani is have been included on 15 member committee of Managing Director (Pdo.co.om 2018). Image 2: People and staff management in PDO (Source: Pdo.co.om 2018) Issues in managing employee diversity There are series of diversity management issues in contemporary organizations like- resistance of the diversity management, poor communication among the employee due to difference in language, lack of employee involvements, language and cultural differences and high rates of employee bullying (Madera 2013). Crane and Matten (2016) stated that Oman on signing the treaty of WTO, all the residing business willingly and unwillingly become flatter, flexible and diverse and formulated into a manpower pool with mixtures of vivid religion, religion, races, races cultures and origins. This resulted in the poor incorporation of perfect diversity in the Omani workplace. In case of PSO, there are involvement of the women officials in management designation and people from other culture as the member of the organization but this involvement is very less in number. These women are not allowed to take sole decisions for the business and have to share their concern with the male officials which on getting approved by the senior officials gets valued (Crane and Matten 2016). Thus, it can be stated that women remain extremely underrepresented when considering the senior roles in Omani organizations. Another issue is that the business operations are operated in a global context; however, the number of member allocated for the operation is lesser from other religion and PDO intends to recruit people from Oman (Minnee et al. 2013). This issue raises the lack of understanding of the host nations business requirement and approaches as the Omani employee takes time to assess the situations (Minnee et al. 2013). This non- inclusion of the non native people also delays in business operations and poor business deals in the host country. Garbie (2016) furthermore highlight the issue of poor communication among the employees in the organization while managing the diversity. In PDO also people from Oman have strong national identity that makes them to remain more connected with the Arab culture and Islamic roots. This rises to the issues of lack of establishing the interpersonal relationship among the employees and the likeliness of cases of employee bullying gets higher. Moreover, the organization follows the code of conduct for sharing almost all the information related to the organization. However, Rajasekar and Khan (2013) stated that in most of the Oman organization, the policies and legislations are published in their native language and English. Rajasekar and Khan (2013) furthermore suggested that this creates a problem for the employees, who are not able to read these languages and hence cannot enhance their knowledge based regarding the companys operations. Moreover, since the majority of the employees are from Oman, in the formal meeting also sometimes they talk in their native language, which is also a reason that the employees from other culture do not participate in the meetings or some important decision- making sessions. This aspect resulted in poor relationship among people from Oman and other culture. Belwal and Belwal (2014) stated that the non- native people do not understand whether or not they have been bullied or appreciated from their colleagues as they are unable to understand their language. Another issue that is raised while managing the workplace diversity is the disagreement of the employee with the officials and sometimes it invites the stage of employee strike, poor productivity and turnover of the employee from diverse culture and race religion. Conclusion Thus, it can be stated that PDO obtain strategies for managing business ethics and emphasized on standard management practices. The practices involve development of ethics program, assessing possible ethical dilemmas, including all the stakeholders in ethical decisions and integrating their management practices with ethics management. It is also found that PDO considers ethics management in the personal policies, safety codes, manpower development programs, highest standards of honesty, integrity, fairness in the aspects of people and safety, corrupt practices, safeguarding of the organizational assets and information and communication management and international trade. Moreover, setting standards for ethical behaviors, managing stakeholders relations, evaluating the ethical performance through their individual performance and group performance, keeping track of the lost number of workdays due to fatalities and measuring the number of employee bullying, voluntary turnover and intern al complaints are some of the aspects for managing business ethics. Moreover, for diversity management program, it has been found that out of total 935 women employees, 837 employees are Omani and the total Omanisation rate is 77%. It is also found that only 4 Omani is having been included on 15 member committee of Managing Director. Thus it can be stated that, the number of people from other nation, diverse culture and religion are less in number and this rises to the issue of poor communication, poor development of interpersonal relations, more number of employee bullying and high rate of employee turnover. Recommendations Formulate a more diverse management team It is a fact that if management team belongs to same nation, the regulations they will formulate can be biased. Thus, rather including female from same nation as the member of the managing directors, it is more effective to include people from diverse culture and religion in the management team. Developing organizational policies in all languages There are some employees, who face difficulty in communicating with people from other race and origin. The effect of the problem is more if the people are in other nation as they hesitate to share their difficulty and concern regarding language barrier. Thus, the organization need to publish all their booklets of organization policies and letters in all possible languages so that people from the concerned area can easily understand and implement the same in obtaining the work goal collaboratively. Set reward to follow all the ethical consideration People tend to follow instructions willingly if they have some personal benefits. Thus, set rewards like monetary facility, effective recognition in the workplace can motivate the employee to follow all the ethical regulations and treat equally with all the members of the organization. Reference Belwal, S. and Belwal, R., 2014. Work-life balance, family-friendly policies and quality of work life issues: studying employers' perspectives of working women in Oman.Journal of International Women's Studies,15(1), p.96. Bowie, N.E., 2017.Business ethics: A Kantian perspective. Cambridge University Press. Bridoux, F. and Stoelhorst, J.W., 2014. 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