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Chapter 4 notes

by: Vishal Gulati

Chapter 4 notes MGMT 340

Vishal Gulati
GPA 3.0

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About this Document

Lecture notes and teachers comments.
Introduction to Organizations
Peter B. Thompson
Class Notes
25 ?




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This 2 page Class Notes was uploaded by Vishal Gulati on Tuesday October 4, 2016. The Class Notes belongs to MGMT 340 at University of Illinois at Chicago taught by Peter B. Thompson in Fall 2016. Since its upload, it has received 11 views. For similar materials see Introduction to Organizations in Management at University of Illinois at Chicago.


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Date Created: 10/04/16
4­6  ● different people have different beliefs as to which actions improve society's  welfare ○ And empirical question 4­6 a organizational stakeholders Responsibility to whom ● Stakeholder ○ Is any group or person within the outside the organization that has some type of investment or interest in the organization's performance and is  affected by organizations actions. ○ Any entity by a company on how it does its business ● 3 most important or 3 legs of a stool ○ Investors, employees, customers ● investors , shareholders and suppliers interests are served by managerial  efficiency. Customers are concerned with decisions Rant  ● Copper and aluminum  ● Story:  hippo in africa 4­6c sustainability and the triple bottom line ● Sustainability meets the needs of the current generation while preserving the  environment and society so future generations can meet their needs as well ○ Swamp cedar­ chopped all of them. No more cedar means it's not  sustainable ○ Cod fisherman in new england complain about how they can't fish 4­7 Evaluating corporate social responsibility  ● Milton friedman ○ Sole mission to increase its profits so long as it stays within the  rules of the game Exhibit 4­5 Criteria of corporate  social performance Exhibit 4­6 building an ethical organization   4­8c whistle blowing  ● Definition  ○ To be an effective ethical safeguard, however, companies must  view whistleblowing as a benefit to the company and make dedicated efforts to  encourage and protect whistle blowers ● Continental bank­ banking and how unethical  ● Challenging disaster­ civilians up to space and blows up  ● Ghost of manhattan  Relationship between CSR and profitability


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