Measurement and analysis are critical aspects of the strategic planning process because they enhance evaluation and correction of strategies that determine the company success. According to Aracıoğlu et al., (2013), measurement and analysis give the surety for the company to pursue the set goals and visions because it aims at the profitability of the company. Subsequently, measurement and analysis enhance the success of any leader and the efficacy of their work within their organization because they can design and achieve the strategic objectives, plans, and decisions for the company (Aracıoğlu et al., 2013). Managers are at the forefront of ensuring that the implemented strategy is satisfactory after measuring and analyzing it to affirm it is a corrective strategy.
The process of making an ethical decision entails evaluation and selecting alternatives that align with the ethical principles of the company. In making an ethical decision, it is advisable to evaluate and perceive the decision that goes in handy with the ethical values and ignore the unethical ones. An ethical decision should be competent, committed, and conscious of the values of an organization, as described by Gabriel (2017). Besides, making good ethical decisions requires trained sensitivity t ethical issues and weighing the possibility of performance progression. A sound decision for the company should be ethical and practical to enhance the realization of the goals and visions of a company.
Globalization impacts business because it creates new markets that significantly increase the competitiveness of various industries and markets. It promotes a shift towards a larger economy which fosters the exchange of culture, beliefs, and ideas that positively affect business. Similarly, globalization allows firms to develop under the influence of various factors, including international division of labor, resource allocation, resource consolidation, and an emerging economic market system (Zhylenko & Meshko, 2019). As a result, it boosts the economy of a country through the foreign exchange and exports of products and services globally.
Aracıoğlu, B., Zalluhoğlu, A. E., & Candemir, C. (2013). Measuring and evaluating performance within the strategic management perspective: A study on performance measurement of a seafood company. Procedia-Social and Behavioral Sciences, 99, 1026-1034.
Gabriel, S. (2017). Making Ethical Decisions in Serious Games. In Clash of Realities 2015/16 (pp. 291-310). transcript-Verlag.
Zhylenko, K. A. T. E. R. Y. N. A., & Meshko, N. (2019). Dominants of business activity globalization processes. International Economic Policy, (2), 43-81.