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Loyola Marymount University - BADM 3040 - Class Notes - Week 2

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Loyola Marymount University - BADM 3040 - Class Notes - Week 2

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background image P. 152 ­ absolutely going to be covered on exams 
P. 153 ­ “one of his favorite ones” 
Conscious capitalism (p. 153) is not an accepted term that is often used (other than the originator of the 
word, John Mackie, the founder of Whole Foods) 
Ethics (p. 139): “the code of moral principles that governs behaviors in relation to matters of right  and wrong.”  Sustainability  Benefit Corporations  Box on 156 ­ Greenwashing, definitely know.  P. 161 ­ whistleblowing  Don’t memorize the five approaches in 5­3, or read 5­4.  Shareholder Value Theory ­ Prof. Milton Friedman ­ “a company exists for one purpose only. To increase 
shareholder value.” It is after all, their fiduciary responsibility. 
Stakeholder theory ­ The company has a responsibility not merely to its shareholders but to its 
stakeholders, namely all those who are affected by the decisions and actions committed by the firm.” 
Triple bottom line: Companies that embrace policies for social, financial, and environmental purposes.  Supplier’s code of conduct…  B­corp.  1. A corporation that is certified by B­Labs after proving they operate ethically 
2. A type of corporate entity with a mission to benefit the public 
3. Both a certified corporation and a type of corporate entity. 
501 (c)3 non profit that serves a global movement, People using business as a force for good. 
background image Speaker canceled. Professor pissed. Minimum wage talk. 
What takes precedent? Local jurisdiction. 
 
Poverty threshold: $19,073 as of 2016
The minimum wage is 75% of the poverty threshold which is why we invoke 
the “living wage.” 
Federal minimum wage: $7.26
California: $11
Los Angeles: $13.25
Paid maternity leave by federal law: Zero time. I knew because of Ivanka 
Trump who recommended it to Trump as official policy. Six weeks, paid-
leave, up to 55% of salary in California
. Only 10% of employees have 
paid maternity-leave. Facebook and Netflix has very liberal leave policies. 
Estee Lauder was sued for denying a male employee of 6 weeks of “child-
bonding” time which is standard for women. 
You have the right to unionize and engage in union activity CALOSHA (state agency) - or OSHA (the federal agency) handles workplace 
safety laws. You have a right to safe working environment. 
How would you define globalization: the increasing interaction of people, 
states, or countries through the growth of the international flow of money, 
ideas, and culture. Globalization is primarily an economic process of 
integration that has social and cultural aspects. (from Wiki
McDonald’s: At the beginning of chapter 4, they talk about McDonald’s 
activities in India where they put beef into their burgers. However, most of 
the people in India don’t eat beef
In Africa, the labels have images for illiterate shoppers but images of 
“babies” on packaging meant that customers were wary of the product. 
Some airlines (United) tried offering flowers to travelers but in Asia this is a 
symbol of death and grief.
MANAGEMENT - Be sensitive (in every situation) to other cultural climates.  Foreign Corrupt Practices Act - FCPA. This law prohibits the bribing of a 
government official. The United States enforces this law if the company has a
sufficient “nexus” with the United States, that includes subsidiaries. A 
German contract can’t bribe an Indonesian government official if it has a 
subsidiary in the United States. 

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School: Loyola Marymount University
Department: Business
Course: Management and Society
Professor: George Hess
Term: Spring 2017
Tags: badm, Management, ethics, Administration, workplace, and HR
Name: BADM 3040 - Week 2 of notes
Description: Week 2 of notes. Notes from 2 classes.
Uploaded: 02/12/2018
4 Pages 27 Views 21 Unlocks
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