Ch 3 and 13 - Ch. 3: The Environment of Management Group...

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Ch. 3: The Environment of Management Group warm-up question: Identify one (for-profit) organization which you consider to be socially responsible. Why do you consider this organization to be socially responsible? …..let’s list them on the board.
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This is one of the images of the corporate world in the eyes of the public.
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What is the dominant organizational structure in our modern business world? Partnerships? Sole proprietorships? Trusts? Non-profits? Corporations?
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Ok, so what exactly is a corporation? What is it in legal terms? Does this really make sense? What is the mandate of a corporation? Is this consistent with the legal status of corporations?
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A corporation is: “One form of business ownership.” “A group of individuals working together to serve a variety of objectives, the principal one of which is earning large, growing, sustained, legal returns for the people who own the business (stockholders).”
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The Corporation (The birth of the corporate form and metamorphosis into a “legal person”)
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Earlier in the history of corporations: The stockholders of a corporations were liable… Corporations had a built in termination date (after a project was completed)… The right to incorporate was not automatically given, and permission to incorporate was given to groups seeking to do public good… Corporations “piggy backed” on the 14 th amendment to gain status as a “legal person”…
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The Corporation (A “legal person,”… but really a person?)
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Corporations are a special sort of person: They are legally required to increase the wealth of one group (stockholders), even at the detriment of other groups …. They do not feel guilt…
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This note was uploaded on 04/08/2011 for the course BUS 315 taught by Professor Powell during the Spring '11 term at University of Hawaii, Manoa.

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Ch 3 and 13 - Ch. 3: The Environment of Management Group...

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