BUS101CompiledNotes

Alternative dispute resolution one approach to

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: ies to manage diversity effectively Strategic Advantages of Managing Diversity Effectively Companies that promote equal employment opportunity generally do better at attracting and retaining workers from all backgrounds Businesses with employees from varied backgrounds can often more effectively serve customers who are themselves diverse The global marketplace demands a workforce with language skills, cultural sensitivity and awareness of national and other differences. Chapter 15 Notes THE CONSUMER AS A STAKEHOLDER Pyramid: - Owners (Stockholders, Stakeholders) - Board of Directors – Voted by the stockholders, better if they are outside of the company. They directly hire and set commission for upper echelon of a corporation. The Consumer Stakeholder: It’s hard to create a quality product that meets the demands of a consumer – have to take into consideration things like environmental concerns, global concerns, competitors that don’t play by the rules, etc. Consumer Movement – Organized movement by consumers in a certain company to safeguard their rights Advocacy for consumer Interests – As long as business has existed – consumers have tried to protect their interests when they go to the marketplace. Consumer Federation of America, National Consumers League, and the American Association for Retired People. Reasons for Consumer Movement – Complex Services, as well as products, have become more specialized and difficult to judge. Rights of Consumers - Right to be informed - Right to safety - Right to choose - Right to be heard - Right to privacy How Government Protects Consumers - Taken together the consumer protection laws are safeguards that reflect the goals of government policymakers and regulators in the context of the 5 rights of consumers - The role of government protecting consumers is extensive in the US as well as many other nations. Goals of Consumer Laws - To provide consumers with better information when making purchases - To protect consumers against possible hazards - To promote competitive pricing - To promote consumer choice - To protect privacy “The corporate lobby in Washington is basically designed to stifle all legislative activity on behalf of consumers” – Ralph Nader Consumer Protection in the Digital Age Dilemma: How to protect consumer privacy while fostering internet commerce Proposed solutions: - Consumer self- help - Internet users should use technologies that enable them to protect their own privacy - Industry self- regulation - Internet- related businesses advocate being allowed to regulate themselves - Advantage is they have the best technology to do so, critics feel industry rules may be too weak - Privacy legislation - Favor new government regulations protecting consumer privacy online Product liability - The legal responsibility of a firm for injuries caused by something it made or sold - In US and some other countries, consumers have right to sue and collect damages if harmed by unsafe products - Consumer advocates and trial attorneys...
View Full Document

Ask a homework question - tutors are online