2300 book notes

Responses and results are sent back to the

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Unformatted text preview: back to the group leader; group leader records and summarizes responses and results are sent back to the participants with additional questions; repeated until consensus is reached Entrepreneurship and Creativity • • • • • • • entrepreneurs - individuals who notice opportunities and decides how to mobilize the resources to produce new and improved goods and services social entrepreneur - pursue initiatives and opportunities to address social problems and needs in order to improve society and well-being intrapreneurs - a manager, scientist, or researcher who works inside an organization and notices opportunities to develop new or improved products and better ways to make them characteristics of entrepreneurs o openness to experience - take risks o internal locus of control o self esteem o high need for achievement entrepreneurship o not the same as management o definition - the mobilization of resources to take advantage of an opportunity to provide customers with new or improved goods and services o entrepreneurs are often not managers ! must hire managers product champions - a manager who takes "ownership" of a project and provides the leadership and vision that take a product from the idea stage to the final customer skunkwork - a group of intrapreneurs who are deliberately separated from the normal operation of an organization to encourage them devote all their attention to developing new products Managing Ethics and Diversity • • • • • • • • Ethical Dilemma - the quandary people find themselves in when they have to decide if they should act in a way that might help another person or group and is the right thing to do, even though doing so might go against their own self-interest ethics - the inner guiding moral principles, values, and beliefs that people use to analyze or interpret a situation and then decide what is the right or appropriate way to behave ethics isn't rules or indisputable actions, can be different for different people neither law nor ethics are fixed principles that don't change ethics change over time stakeholders - the people and groups that supply a company with its productive resources and so have a claim on and stake in the company o ethics are very important to stakeholders because ethics can directly benefit or harm them o stockholders - interested in how the company is doing o managers - they are responsible for using a company's financial, capital, and human resources to increase its performance and thus its stock price ! improving performance of the company = larger bonus for them o employees - expect to receive rewards consistent with their performance o suppliers and distributors - companies depend on them o customers - most critical stakeholder group ! companies must increase efficiency and effectiveness to create loyal customers o community, society, and nation ! community - physical location like towns/cities, ethnic neighborhoods, provides physical and social infrastructure that allows it to operate • company contributes to the economy of its own regions through salaries, wages, and taxes • can also affect the prosperity of the global economy utilitarian rule - greatest good for the greatest number of people o consider how it would affect all stakeholders o off-shoring can be utilitarian because in the long-run the business might collapse if it stays at home moral rights rule - best maintains and protects the fundamental rights and privileges of t...
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This document was uploaded on 02/18/2014 for the course BCOR 2300 at Colorado.

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