Consider these arguments in terms of culture, motivation, and Essay

Consider these arguments in terms of culture, motivation, and strategy, and comment on their substance. You should also reflect - Essay Example The paper also seeks to reflect on how power is exercised in organisations in relation to moral values. The paper begins by explaining the concept of culture in view of the arguments raised by Stiglitz. The paper will also critically analyse how motivation of the people as well as the strategy implemented have a bearing in the way financial institutions are operating during the contemporary period in USA in particular. Culture is the most basic cause of a person’s wants and behaviours. â€Å"This is commonly referred to as a set of basic values, perceptions, wants behaviours learned by a member of society from the family and other important institutions,† (Kotler & Armstrong, 2004). For instance, the following values are given priority in the United States of America: achievement and success, activity and involvement, efficiency and practicality, progress, material comfort, individualism, freedom as well as humanitarianism. The success or failure of a given organisation can be attributed to this concept of culture. However, Stiglitz argues that individualism and market fundamentalism have eroded the sense of community and have led to exploitation of the ordinary people. ... In actual fact, the approach taken by the banks is that which advocates the survival of the fittest. Whilst the free market concept posits to the effect that the market forces should shape the standards expectations especially of financial institutions, it can be argued that the conditions set are favourable to the business organisations which leaves the ordinary people exposed to manipulation by these big businesses. The aspect of materialism has increased dramatically in the operations of financial institutions and this has posed a serious challenge to the ordinary people who end being victims especially during turbulent periods that can be attributed to the strategies implemented by the financial institutions. Whereas marketers in the other industries worry about the impact of culture on their strategies, financial institutions in USA are primarily concerned with entrenching the aspect of individualism in their operations (Kotler & Armstrong, 2004). Stiglitz argues that rugged ind ividualism combined with a high degree of materialism has led to loss of trust among the members of the society and different financial institutions. The aspect of culture and moral values can also be attributed to the concept of ethics. Business ethics loosely refers to values, principles and standards that operate within a particular organisation which attempts to make a distinction between something that is morally good from bad (Rossouw, 2004). The concept of business ethics therefore derives from the value system that is used by a particular organisation to shape its operations. To reinforce this assertion, DesJardins (2006, p. 5) describes values as the â€Å"essential and enduring tenets†