Ethical aspects of strategic financial management pdf

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We “fire from the hip”, focusing on internal operational activities that can be cut or reduced without linking them to the organisation’s strategic objectives. Our brains go into the fight-or-flight mode of survival, and we don’t properly assess the changing situation. In times of complexity and with situations changing rapidly, it is easy to go on autopilot.

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One reason for this is that individuals confuse tactics with strategy.

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In a pandemic, strategic thinking has never been more important - or more difficult. However, some organisations have not changed their strategies significantly, or not adjusted their target objectives to reflect the new environment. By now it should be a firm fixture in strategic risk reporting and backed up with key scenarios exploring possible directions as organisations move from a lockdown state into a post-pandemic world. We can agree that most organisations did not have a global pandemic on their strategic scorecard or built into their strategy prior to the COVID-19 outbreak.

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