Week 3 Online Lecture Notes
Week 3 Online Lecture Notes MGT 300
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This 5 page Class Notes was uploaded by Linsey Moen on Saturday September 17, 2016. The Class Notes belongs to MGT 300 at Arizona State University taught by Dr. David Kim McKinnon in Fall 2016. Since its upload, it has received 2 views.
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Date Created: 09/17/16
I. Week 3: Lecture 1 - Work Environment & Stakeholders a. INFLUENCE i. The ability to get others to do what you want b. Stakeholders i. “The people whose interests are affected by an organization’s activities” c. Influence and Stakeholders i. An important part of the manager’s job is to influence stakeholders… d. Hammer & Champy’s* View i. “Three C’s”: (3 C’s of change) 1. Change is constant 2. Competition increases 3. Customers take charge e. Tom Peter’s View of the Business Environment i. “We’re in a brawl with no rules!” 1. This means as we move into the future we’re not sure what will work and what will not 2. Old rules don’t apply anymore f. Manfred von Richthofen – AKA The Red Barron i. Von Richthofen’s Lesson to Us 1. Situational Awareness (SA) a. “SA stands for the real-time ability to acquire and process a host of different data in a constantly shifting environment and the ability to translate that assessment into action. It really means knowing what’s going on around you.” g. The General Environment – (AKA, macroenvironment) i. Economic forces 1. consist of the general economic conditions and trends – unemployment, inflation, interest rates, economic growth – that may affect an organization’s performance a. Ex: the rate of unemployment, interest rates etc. b. Influences our decisions ii. Technological forces 1. new developments in methods for transforming resources into goods and services a. ex: changes in equipment, changes in IT (most popular) iii. Sociocultural forces 1. influences and trends originating in a country’s, a society’s, or a culture’s human relationships and values that may affect an organization a. EX: same sex marriage iv. Demographic forces 1. influences on an organization arising from changes in the characteristics of a population, such as age, gender, or ethnic origin a. ex: baby boomer, millennials, generation x group v. Political-Legal forces 1. changes in the way politics shape laws and laws shape the opportunities for and threats to an organization vi. International forces 1. changes in the economic, political, legal, and technological global system that may affect an organization h. External Stakeholders in the Task Environment i. Customers – sell to them ii. Competitors – outperform them iii. Suppliers – get material/ equipment from them iv. Distributors – sell through them v. Strategic Alliances – expand with them vi. Employee Organizations/Unions or Associations – negotiate with them vii. Local Communities – live in them viii. Financial Institutions – get money from them ix. Government Regulators – avoid fines from them x. Special-Interest Groups – get criticized by them xi. Media – get publically criticized by them (or grow your reputation through them) 1. All of these groups have to do with how we get things done i. ChemTech International is being picketed by a group of people who live by their biggest plant. The group is concerned about ChemTech’s disposal of waste products into nearby waterways. In this instance, ChemTech is dealing with the _____ part of its _______ environment i. local communities; task j. Internal Stakeholders i. Employees 1. Associates 2. Workers ii. Owners 1. Sole Proprietor a. One person 2. Partner a. Two of you 3. Privately Owned a. Group of you 4. ESOP a. Employee-stock ownership program b. Employees own part of the company 5. Stockholder a. Bought stock or a share of stock you are a owner iii. Board of Directors 1. Board of Trustees 2. Board of Regents k. Owners and Boards i. Owners 1. consist of all those who can claim the organization as their legal property ii. Board of Directors 1. members elected by the stockholders to see that the company is being run according o their interests II. Week 3: Lecture 2 - Ethical Responsibility a. Defining Ethics, Values, and Code of Ethics i. Ethics - The standards of right and wrong that influence behavior. ii. Values - Relatively permanent and deeply held underlying beliefs and attitudes that help determine a person’s/organization’s behavior. iii. Code of Ethics/Values - A formal written set of ethical standards or values guiding an organization’s actions. AKA Code of Conduct b. Manager’s Ethical Responsibility i. Ethical dilemma 1. A situation in which you have to decide whether to pursue a course of action that may benefit you or your organization but that is unethical or even illegal c. Kohlberg – How People Learn Ethics i. Level 1, preconventional – follows rules 1. Follow them out of fear of punishment ii. Level 2, conventional – follows expectations of others 1. What most people tend to do 2. Compliance because it is expected 3. Person mayor may not have thought about things in depth iii. Level 3, postconventional – guided by internal values 1. Possessed by people who are guided by higher values 2. You do something because it’s the right thing to do d. White-Collar Crime, SarbOx, & Ethical Training i. Sarbanes-Oxley of 2002 1. Often shortened to SarbOx or SOX, established requirements for proper financial record keeping for public companies and penalties of as much as 25 years in prison for noncompliance a. Senior officers signed records stating that they were accurate (which they were not) e. What do “followers” want? (Employee perspective) i. Honest – most important (ranked in order) ii. Forward-looking iii. Inspiring iv. Competent f. What do “followers” really think? i. “Management is honest, upright and ethical” ii. g. Four Approaches for Approaching Ethical Dilemmas i. Utilitarian - what will result in the greatest good for the greatest number of people ii. Individual - what will result in the individual’s best long term interest, which ultimately are in everyone’s self-interest iii. Moral-rights - respect for the fundamental rights of human beings 1. People should be treated with dignity and respect just because they are people iv. Justice - respect for impartial standards of fairness and equity h. Promoting Ethics in the Organization i. Creating of a strong ethical climate ii. Screening prospective employees iii. Instituting ethics codes and training programs iv. Rewarding ethical behavior: Protecting whistle-blowers III. Week 3: Lecture 3 – Social Responsibility a. Social Responsibility i. The manager’s duty to take actions that will benefit the interests of society as well as of the organization b. Corporate Social Responsibility i. The notion that corporations are expected to go above and beyond following the law and making a profit c. Carroll’s Global Corporate Social Responsibility Pyramid i. ii. A Non-Business Example 1. US Public Education a. Teach children to read, write, math skills b. Transportation – bus children from remote areas c. Feed children – lunch; breakfast & lunch d. Provide health care needs for children e. Provide counseling for children f. Provide ‘daycare’ activities for some children d. Economic Focus should be “The Focus” i. Milton Freidman ii. The Social Responsibility of Business is to Increase its Profits e. Philanthropic Responsibility - Carroll’s Global Corporate Social Responsibility Pyramid i. When business starts using its voice for the benefit of the country as a whole, not just in its narrow self-interest, it can really be the force that can make the changes that need to be made.“ 1. - Ben & Jerry Ice Cream f. A Bottom Line for Corporate Social Responsibility? i. Positive outcomes include: 1. Stronger Public Image 2. Improved Employee Morale 3. Increased Employee Loyalty 4. Higher Levels of Employee Engagement 5. ROI of 8% for US companies measuring
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