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Loyola Marymount University - BADM 3040 - Class Notes - Week 1

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Loyola Marymount University - BADM 3040 - Class Notes - Week 1

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background image BADM 3040 | Day 1 | 1.9.2018 Observations on professor: self-deprecating sense of humor; a man of means (vacationed in S. America, also a lawyer); great first name (Daniel); no wedding ring (divorce?); hair is brown (despite age, revealing an interest in appearance because he probably dyes it; he exercises here on the weekends which means he lives locally); pants are not common, brown and suede? (an interest in fashion and modernity); liberal? (doesn’t like Trump; could be an old-school Republican in the fashion of Romney; reads New York Times & Bloomberg, reflecting a world-view);  Required texts:  Management by Richard L. Daft (the “loose leaf” is $157 wtf!!!) His book on the BP oil spill (bookstore has it $9 rental) Read op-ed in the NY Times: https://www.nytimes.com/2017/08/19/business/moral-voice-ceos.html There will be some guest speakers (he has 4 so far, and he hopes to have 
one or two more.) Next Tuesday (on the 16th), we’ll have a guest speaker via
Skype. 
APRIL 4, 2018 - YOU MUST FUCKING ATTEND THE LMU EVENT ABOUT PEOPLE PRESENTING INFO ABOUT ETHICS. YOU WILL BE ASSIGNED, ON APRIL 4TH, TO GRADE ONE OF THE TEAMS IN ACTION.  Management & Society - issues in strategic and ethical management.  Movements in Lecture -  1. Hoi polloi - interesting word he used. An expression from Greek that  means: “the majority.” Used to describe ‘Davos’ when he was quoting 
Klaus Schwab. 
2. Schwab recommended “global corporate citizenship” which means  taking an active role in leadership, rather than satisfying the minimum 
requirements that the public expects from corporations. 
a. Examples: Corporations should take proactive measures to  address big problems like climate change.  b. Corporations agreed to a $50 billion fund (managed by the UN)  to address energy inefficiency and environmental issues.  3. CSR - corporate social responsibility, fairly recent concept for  managers.  4. Civil society - NGOs (non-governmental organizations) 
5. Poor corporate citizenship 
a. Favorite example of Mr. Jacobs: BP oil spill in the Gulf of Mexico.   BP was once a leader, not a laggard, in the field. As a prosecutor,
he was a litigator against BP (on a smaller unrelated issue.) It 
cost BP $62 billion in the end; so being a good corporate citizen 
ultimately pays off. 
background image b. Banking. Banks paid around $30 billion for their role during the  mortgage crisis.  c. Automotive. Volkswagen, emissions scandal. 14% of these rigged vehicles were sold in California. Cost Volkswagen $4 billion. Some
were sentenced to jail time. 
6. Good corporate citizenship  a. Merck, CEO (a descendant of slaves) spoke out against Donald  Trump and resigned from his corporate councils. This action 
triggered a wave of other accompanying resignations. Elon Musk 
predated the Merck CEO’s actions. Bob Iger (CEO of Disney) 
would later resign as well. 
b.

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School: Loyola Marymount University
Department: Business
Course: Management and Society
Professor: George Hess
Term: Spring 2017
Tags: Management, Administration, badm, and ethics
Name: BADM 3040 - Week 1 notes
Description: These are the notes from Week 1. They give a great overview of what the course entails and what's being asked of you. Highly recommended because once you have a great grasp of the questions he's asking you, it becomes easier to look for solutions on the exam.
Uploaded: 02/12/2018
5 Pages 19 Views 15 Unlocks
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