Management Quiz 2
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. What would you like to do?
Kohlberg's Stages of Moral Development
- 1. Preconventional Level-self interest
- Stage 1: Fear of Punishment
- Stage 2: Rewards
- 2.Conventional Level What will others think of me?
- Stage 3: Nice boy, Good girl-approval
- Stage 4: Law of Order-want to be a good citizen
- 3. Post Conventional Level What do I believe is the right thing?
- Stage 5: Social Contract- I believe its the right thing
- Stage 6: Universal Ethical Principle-believe in higher power
Ways to encourage ethical behavior?
- -Public knowledge-transparent & recognition
- -Explicit consequences
Carroll's Pyramid Model of Corporate Social Responsiblity
- Economic Responsibility- Obligation of the firm to create value for investors to generate wealth, to be profitable
- Legal Responsibility-obligation; obey all laws
- Ethical Responsibility- obligation: to behave in a manner consistent w/ society's expectations of just behavior
- Discretionary Responsibility-optional obligation to exceed society's expectations of just & ethical behavior
Total Corporate Responsiblities:What legal obligations do customers have?
- Right to Safety
- Right to be heard-company must provide contact information
- Right to be informed- must provide complete info on functions and hazards
- Right to choose- prohibits anti competitive behavior; prevent monopolizing
- Right to privacy- limit to selling demographic and personal information to companies
Total Corporate Responsibilities- What legal obligations do employees have?
- Statutory Rights: privileges extended by law ex: min. wage law
- Implied Rights: language that implies a legal obligation to the employee
- Enterprise Rights- optional
Total Corporate Responsibilities: What legal obligations do stakeholders have?
- Receive Dividends
- Receive Information-investors must receive complete, accurate information about the financial performance of the firm as well as any legal, managerial action that could report firm's performances.(Annual Reports and Meetings)
- Vote: for Board of Directors, Mergers and acquisitions, changes to bylaws, proposals by other stockholders.
- Right to Sue
- Right to Sell Stock
What is the purpose of a Stakeholder Model?
A concrete framework to guide business behavior regarding ethical and social issues.
What is a stakeholder?
all groups affected by or that can affect on organization's decisions, policies, and operations.
Primary Stakeholders: List Definition and Examples
Task Environment-groups that directly contribute to or impact the operation and production of an organization's goods.
Ex: Board of directors, employees, vendors, local gov't, shareholders
Secondary Stakeholders: List Definition and examples.
General Environment-groups in society who are affected, directly or indirectly by the corporation, but they are not essential to the organization's survival
Ex: Community, environmental group
How's corporate responsiveness different from corporate responsibility?
It's how a corporation responds in terms of corporate responsibility.
What are the 4 different corporate social responsiveness strategies?
- Inactive Strategy-Deny; points fault at someone else.
- Reactive Strategy-Responds after negative pressure
- Proactive Strategy-Voluntarily responds to issues immediately.
- Interactive Strategy-Ask stakeholders their opinions for input before something goes wrong.
What is an organizational environment?
Those forces outside its boundaries that can impact it. (opportunities, threats)
What are opportunities? Threats?
- opportunities are openings for managers to enhance revenue or open markets.
- Threats are issues that can harm an organization.
What is an internal environment?
Factors within an enterprise that influence how work is done and how goals are accomplished.
What is organizational culture?
- organizational culture is what a company believes in or tries to achieve.
- Its the system of behavior, rituals, and shared meanings that distinguish a group or an organization from other similar units.
- It gives employees an organizational identity and establishes the rules that they follow.
What two forces make up the external environment? Give examples of both.
- Indirect forces-social/cultural, global, economic, technological, political/legal, social responsibility and ethics
- Direct Forces-competitors, suppliers, customers, employees
What are the 3 philosophical approaches to business in multiple countries?
- Ethnocentric approach: emphasis on status quo; management, culture and norms from home country. Works better when home & host are similar.
- Polycentric Approach: emphasis on conforming to other culture; adapt to local culture, hire local
- Geocentric Approach: emphasis on adaptation; adopt policy practice that is the best while maintaining home identity
What is ethnocentric approach?
Ethnocentric approach: emphasis on status quo; management, culture and norms from home country. Works better when home & host are similar.
What is a polycentric approach?
emphasis on conforming to other culture; adapt to local culture, hire local
What is a geocentric approach?
Emphasis on adaptation; adopt policy practice that is the best while maintaining home identity
What are the 5 different international expansion techniques?
- 1. importing and exporting
- 2. licensing
- 3. franchising
- 4. joint venture
- 5. wholly owned subsidiary
What is Hofstede's Model of National Culture?
a model that lists 5 dimensions of characteristics to compare different cultures
What are the 5 dimensions of Hofstede's model?
- Individualism to Collectivism
- Low power distance(equal access to opportunity) to High power distance(large gap in social standing)
- Achievement Orientation(society emphasis on success) to Nurturing(focus on quality of life)
- Low uncertainty avoidance(degree to which society can tolerate ideas) to high uncertainty
- Short term (live in present) to long term
What is the free trade doctrine?
The idea that if each country specializes in the production of the goods and services that it can produce most efficiently, this will make the best use of global resources.
What was the European Union and who were the original members?
- a European Union to eliminate trade barriers between its members: Germany, France, Italy, Belgium, Luxembourg, and Netherlands
- Its purpose was for price stability, full employment, exchange rate stability
What did the North American Free Trade Agreement(NAFTA) do?
- -it abolished 99% of tariffs on goods traded between Mexico, Canada, and the United States
- -unrestricted cross-border flows of resources
- -increased investment by US firms in Mexican manufacturing facilites due to lower wage costs in Mexico
What is ASEAN?
Bangkok declaration signed by : Indonesia, Malaysia, Phillipines, Singapore, and Thailand
What would you like to do?
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