Week 4 10-21-14 Students' Lecture Outline

Week 4 10-21-14 Students' Lecture Outline - Darryl Mleynek...

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Darryl Mleynek Adjunct Faculty, SBA BA 385: Business Environment [email protected] Week 4 Students’ Lecture Outline _______________________________________ “Chiquita: An Excruciating Dilemma between Life and Law” Case 17, pp. 615 - 617 _______________________________________ The Stakeholder Approach to Business, Society, and Ethics (Ch. 3) _______________________________________ 1. Origins of the Stakeholder Concept: a. The Modern Managerial Approach is based on an approach that . . . 1 “There is always an easy solution to every problem—neat, plausible and wrong.” --H.L. Mencken Assignment for Week 4 Due Assignment (1) “Chiquita: An Excruciating Dilemma between Life and Law” 10/21/14Cs. 17, pp. 615-617 (2) The Stakeholder Approach 10/21/14 Ch. 3, pp. 64- 90 (3) The Clarkson Principles 10/21/14 Read Outline. (4) Business Ethics Fundamentals 10/21/14 Ch. 7, pp. 176-187, 209-211 (5) Before class, watch TV Interviews about Crony Capitalism 10/21/14 Control- click hyperlink. on Moyers & Co. 56:47 minutes. Bill Moyers/ David Stockman. Will be discussed in class. (1) Personal and Organizational Ethics and 10/23/14 Ch. 8, pp. 219- 231 The Moral Organization 10/23/14 Read Outline.
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Darryl Mleynek Adjunct Faculty, SBA BA 385: Business Environment [email protected] 2
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BA 385: Business Environment b. The Stakeholder Concept/Stakeholder Management Approach: c. The full set of concepts leading to a sustainable organization: d. Traditional view: The role of a public corporation is to maximize shareholder value. e. Stakeholder view: The role of a public corporation is to balance the interests of shareholders with those of other stakeholders. f. Instructor’s view: The role of a business (including a public corporation) is to build a sustainable organization. 1) In building a sustainable organization, which is done by implementing operations-quality leadership, stakeholder management (and the balancing of the interests of shareholders with those of other stakeholders) will also be implemented. 2) As well, moral leadership and environmental leadership will be implemented. 2. The types of stakes can be reduced to a. An interest in some outcome. 3
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BA 385: Business Environment b. A right (moral right or legal right) regarding the business. c. Ownership in the business. 3. A Typology of Stakeholder Attributes: Legitimacy, Power, Urgency a. Legitimacy. Refers to the perceived validity of a stakeholder’s claim ( i.e ., stake). b. Power . Refers to the ability of the stakeholder to produce an effect. c. Urgency . Refers to the degree to which the stakeholder’s claim requires an immediate response from the corporation. 4. What strategies/tactics should the firm take to best address stakeholders? 5. The importance of perspective. a. “Stakeholder thinking . . . is the process of always reasoning in stakeholder terms throughout the management process, and especially when an organization’s decisions and actions have important implications for others.” p. 83. ______________________________________ The Clarkson Principles for Stakeholder Management _______________________________________ Introduction to The Clarkson Principles 4
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BA 385: Business Environment 1. Principle One: Managers should acknowledge and actively monitor the concerns of all legitimate stakeholders and should take their interests appropriately into account in decision-making and operations.
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