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2), subject to “purely” theoretical definitions, and “straddles a wide range of social, political and economic phenomena at different levels of complexity” (Saad-Filho and Johnston, 2005, p.1), yet it has defining characteristics as a political and economic philosophy.
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.
One area that organizations can lose consumer confidence is failing to honor guarantees or negatively deal with complaints.
This is why consistent policies and employee training is imperative.
Sexual discrimination in the workplace is costing CEOs, politicians and celebrities their livelihood because they are not appropriately dealing with accusations and harassment claims.
Organizations must maintain policies and procedures addressing various types of harassment and discrimination.
Neoliberalism is based on the idea that the government makes the world worse for society instead of promoting economic growth.
Neoliberalism supports the generation of private companies and unhindered markets considering them the driving force of economic growth and social welfare.