Wk06_1301 Midterm Review

Wk06_1301 Midterm Review - ADM 1301 Fall 2010 Week 6:...

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ADM 1301 Fall 2010 Week 6: Midterm Review
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Material Covered (to midterms) Chapter 2: How the Business System Works Slide pack Supplemental: Canadian Private Sector Chapter 4: Understanding Stakeholder Relations Chapter 12: Corporate Governance Slide pack Supplemental: The Canadian Government Chapter 10: Regulating Business Slide pack Supplemental: Lobbying Chapter 13: Civil Society Stakeholders Chapter 5: Ethics of Business (Theory) Chapter 6: Managing Ethics of Business
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What is the storyline here? The world is a complex place, and Business is a key actor in it. To be an effective manager in today’s world you need to understand not only how business operates (internally), but also how business functions in the larger macro-environment . The overall system is in constant “flux” (change) as all the players are in constant motion interacting with other players, at the local, national, and international stage. To better understand all the complexity we use models to simplify , and look at underlying power structures , influences , and trends . It is beyond us to predict what exactly will happen at each specific interaction. However, with a basic understanding of the system components, we can start to anticipate how things will unfold . That will help us make better decisions as business managers. All decision making involves ethical considerations , whether you formally acknowledge that or not.
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Key (building block) concepts Macro-environment Modified Boulding Triangle Social Contract Stakeholder, Shareholder Pluralism Social Capital Governance Regulation Industrial Strategy (policy) Lobbying Public Policy Civil Society (Social Sector) Ethics of business Ethical decision making Whistle blowing Immoral, Moral, Amoral Social problem (Doctrines of) incorporation Fiduciary duties Laissez-faire Public Service Agent (agency) problem Legislative process You should really UNDERSTAND these
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Key ideas Change driven by: technology, demographics, globalization (8) fundamentals of “capitalism” Dynamic Canadian business landscape ($1.6T, segmented into tiers) Business, Social Sector, Government: Three different headspaces!!
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Wk06_1301 Midterm Review - ADM 1301 Fall 2010 Week 6:...

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