Team member morale improves when employees feel protected against retaliation for personal beliefs.These policies include anti-discriminatory rules, open door policies and equal opportunities for growth.
Understanding the nature, concept and negative effects of neoliberalism on strategic management is of utmost importance, as neoliberalism is one of the greatest philosophies leading to global transformations in capitalism.
Neoliberalism is not a clear-cut singular concept (Plehwe and Walpen, 2006, p.
Companies must direct employees on how to treat customers according to its core values.
When an organization takes the time to identify what is important to consumers and its target market, it is better able to set value statements and protocols to meet higher ethical standards.
Originated in the 1970s, neoliberalism is “a political rationality that tries to render the social domain economic and to link a reduction in (welfare) state services and security systems to the increasing call for ‘personal responsibility’ and ‘self-care’” (Lemke, 2002, p. While Neoliberalism, as a doctrine of political and economic liberalism and set of policies, it has specific positive aspects, the overall impact of neoliberalism on the strategic management of the social, institutional, business and cultural operations is negative.
Neoliberalism, profit-driven and exceptionally focused on finance, has negative social impact on strategic management, as it fosters corporatisation of state companies, and other assets, the shift of welfare policy toward philanthropy and entrepreneurship, and individual ‘responsibilisation’ for health, welfare and education.
The second area of financial liability exists with potential lawsuits.
No organization is exempt from a disgruntled employee or customer who claims discrimination.
When employees feel good about being at work, the overall feeling in the organization is more positive.
This breeds organizational loyalty and productivity, because employees feel good about showing up for work.