HW # 1 - MGT 201 Monday, 22 February 2010 Lamya Mahmoud ID:...

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MGT 201 Monday, 22 February 2010 Lamya Mahmoud ID: 34851 Essay Questions Chapters 1,2,3,4 Assignment # 1 Page 1 of 8
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E SSAY Q UESTIONS 1. N AME AND DESCRIBE THE 4 VALUE SYSTEMS THAT CAN BE USED IN ETHICAL DECISION - MAKING PROCESSES . 1) Utilitarianism: Ethical decision- making based on what is good for the greatest number of people. 2) Individualism : The degree to which a society values personal goals, autonomy, privacy over group loyalty, commitment to group norms, involvement in collective activities, social cohesiveness, and intense socialization. 3) Rights approach : Decision- making based on the belief that each person’s human rights should be respected and protected. 4) Justice approach : An approach to ethical decision- making based on fairness and consistency in the business. 2. T HERE ARE SEVERAL BENEFITS TO SOCIAL RESPONSIBILITY AND ALSO SOME DISADVANTAGES . E VALUATE THE BENEFITS AND DISADVANTAGES IN LIGHT OF LOCAL UNIVERSITY AND ITS RESPONSIBILITY TO WISELY MANAGE ITS RESOURCES DURING THE CRISIS . 1) Benefits: o Social responsibility enhances the image of the university and gives it a good reputation. o Financial support from the local government and other private sectors. o Attracts a larger number of students. o Attracts the most qualified professors and employees. o Have the opportunity to corporate and partnership with civil organizations. 2) Disadvantages: o Social responsibility incurs additional expenses to the university which decreases the university’s profit. 2
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o Diverts part of its resources to service the society instead of using these same resources to create more income. o It loses focus on their goals while focusing on goals related to good corporate citizenship. During the crisis, which could have an impact in decreasing the enrollment of students, the university can utilize the unused resources in developing and updating its academic curriculum to meet the local employment requirement. Moreover, the university can create employee- training courses to develop the career of its staff internally and offer training courses for employees outside the university as well. 3. D EFINE AND COMPARE THE FOUR PERSPECTIVES REGARDING ETHICS TO THE APPROACHES AVAILABLE TO DEALING WITH STAKEHOLDERS . 1) Confrontation: The firm may use to deal with a stakeholder group whose goals are perceived to threaten company performance. The firm may use courts, engage in public relations, or lobby against legislation. 2) Damage control: The firm admits its mistakes and tries to improve its relation with stakeholders. 3) Accommodation:
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This note was uploaded on 03/24/2010 for the course MGT MGT 201 taught by Professor Hilal during the Spring '10 term at American University in Bulgaria.

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HW # 1 - MGT 201 Monday, 22 February 2010 Lamya Mahmoud ID:...

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