Review the CIBC Mellon: Managing a Cross-Border Joint Venture Case Study found on page 219 in your textbook and respond to the following (Attached and in order):
- Compare and contrast strategic controls and financial controls.
- Provide specific examples of how each may be used to best serve a corporation.
- As a strategic leader, determine if you would feel ethically responsible for developing your firm’s human capital and state why. Discuss whether or not you believe your position is consistent with the majority or minority of today’s strategic leaders.
*** References/Citations from the Book/Attachment only – if needed ***
*** 10-15 Sentences should be fine ***
Part 2 (two): Respond to Classmate post below
Companies must use both strategic and financial controls. They are used in various combinations which can vary based on the company’s strategy. Strategic controls are subjective and used to verify that the appropriate strategies are in place. They require a lot of communications between managers to ensure everyone is on the same page. The financial controls are used to measure the firms status against previously set standards of themselves and its competition.
As a leader, I think I would feel ethically responsible for developing the company’s human capital. As a leader, you want your immediate team and other teams that you may be indirectly responsible for to grow and to be successful. I believe that my position is consistent with the “PR” answer that each leader will provide. Putting those words into action is entirely a different story.