Describe the impact of regulation and standards on an organization and Assignment

Describe the impact of regulation and standards on an organization and its stakeholders - Assignment Example In fact, shareholders get motivated to take part in the issues affecting the organization only when they receive inducements beyond the value of their contributions. A responsible team of management should always involve shareholders in all stages of important decision making. Organizational management must be extra careful while making vital decisions on behalf of the stakeholders more so on matters of new technology otherwise the project may not succeed. It is important to note that there is a growing demand for information technology in the contemporary society making investment inevitable. All the stakeholders ought to be informed on the need of investing in any particular IT project. This calls for a rigorous business case justifying the need for the new venture. This involves ways of accessing costs and expected returns. General Motors Company had been faced with net loss in 1980 due to stiff competition from foreign companies. This necessitated them to spend $40 billion in a program that would see it regain its position in the market through implementation of new technology that would see the company manufacture fuel efficient vehicles as demanded by the market. Most stakeholders who consisted of managers, investors, and the local community had varying feelings about the idea and the management decided to overlook them which eventually landed the company in huge spending. The genesis of this problem was on the failure of the management to involve all the stakeholders in decision making. Krajewski, M. (2003). National regulation and trade liberalization in services: The legal impact of the General Agreement on Trade in Services (GATS) on national regulatory autonomy. The Hague [u.a.: Kluwer Law Internat. Ulrich, D., Goldsmith, M., & Carter, L. (2004). Best Practices in Leadership Development and Organization Change: How the Best Companies Ensure Meaningful Change and Sustainable Leadership. Hoboken: John Wiley &