MGT 380 Ch1-3 Notes for Exam 1
MGT 380 Ch1-3 Notes for Exam 1 MGT 380
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This 5 page Study Guide was uploaded by Lindsey Tillett on Saturday February 6, 2016. The Study Guide belongs to MGT 380 at Arizona State University taught by James Moore in Spring 2016. Since its upload, it has received 120 views. For similar materials see Management & Strategy for Nonmajors in Business, management at Arizona State University.
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Date Created: 02/06/16
Triple bottom line- people, planet, profit- measures organization’s social, environmental and financial performance. Social audit- systematic assessment of company’s performance in implanting socially responsible programs based on predefined goals Stakeholders- people whose interests are affected by an organization’s activities. Internal stakeholders- employees, board of directors, owners Owners- those who can claim it as their legal property External stakeholders- people or groups in organizations external environment that are affected by it Task environment- 11 groups that present you with daily tasks to handle Customers- pay organization for goods or services Competitors- people or organizations that compete for customers or Resources Suppliers- person or organization that provides supplies (raw materials, services, equipment, labor or energy) to other organizations Distributors-helps another organization sells its goods and services to customers Strategic allies- describes the relationship of 2 organizations that join forces to achieve advantages that aren’t as good performed alone Employee organizations (unions& associations)- union- hourly, associations- salary Local communities Financial institutions- crowd funding- raising money for a project or venture by obtaining small amounts of money from many people Government regulators- regulatory agencies that est. ground rules under which organizations may operate Special interest groups-groups whose members try to influence specific issues Mass media General environment/ microenvironment Economic forces- general economic conditions and trends that may affect an organizations performance such as unemployment, inflation, interest rates, economic growth Technological- new developments in methods for transforming resources into goods or services Sociocultural-influences and trends originating relationships and values that may affect an organization Demographic-influences on an organization arising from changes in the characteristic of population such as age, gender, or ethnic origin Political-legal forces- changes in the way politics shape laws and laws shape the opportunities and threats to an organization International- changes in the economic, political, technological, and legal global system that may affect an organization Ethical dilemmas approaches 1. Utilitarian- what will result in the greatest good for the greatest number of people 2. Individual- result in the individuals long-term interests 3. Moral-rights approach- respect for the fundamental rights of human beings 4. Justice approach- respect for impartial standards of fairness and equity White-collar crime, sarbox, and ethical training Insider trading- illegal trading of a company’s stock by people using confidential company info Ponzi scheme- using cash from newer investors to pay off older ones Sarbanes-Oxley act of 2002- SOX or SarbOx, est. requirements for proper financial record keeping for public companies and penalties of as much as 25 years in prison for noncompliance Laurence Kohlberg- Level 1 preconvential- follows rules Level 2 conventional- follows expectations of others Level 3 postconventional-guided by internal values Promoting ethics 1. Creating strong ethical climate 2. Screening prospective employees 3. Instituting ethics codes and training programs- code of ethics 4. Rewarding ethical behavior- whistle-blower- employee or consultant who reports organizational misconduct to the public CSR- corporate social responsibilities Archie B. Carroll CSR pyramid Most important- Philanthropy/global Ethical Legal Profit Milton Friedman- profit
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