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Strategic management, cg, sr, and ethics

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Strategic management, cg, sr, and ethics

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Strategic management, cg, sr, and ethics

  1. 1. STRATEGIC MANAGEMENT CG, SR, AND ETHICS
  2. 2. Corporate Governance CG involves the interaction of 3 groups… Phantom>Rubber Stamp>Minimal Review>Nominal Participation>Active Participation>Catalyst 30% (Active/Catalyst) 30% (Minimal/Nominal) 40% (Phantom/Rubber Stamp)
  3. 3. Boards of Directors ‘Inside’ and ‘Outside’ directors Board composition: former CEOs and COOs, academicians, lawyers, government officials, and bankers. Financial institutions and investment companies as Board Members: Germany, Denmark, Sweden, Belgium, and Italy Agency theory Holding Boards/Board Members accountable
  4. 4. Ethics and Management Stakeholders – anyone who has a financial interest, stake, or claim in an organization and/or what it does Shareholders, customers, employees, interest groups, government, etc.
  5. 5. Stakeholders What are a company’s responsibilities to its owners/investors? What are the company’s responsibilities to customers? What are a company’s responsibilities to its employees? Prioritize the three stakeholders above from most important to least.
  6. 6. Group Task Q: In order, list the most important stakeholder to the least important e.g. 1,2,3,4 : Government, employees, owners (shareholders), customers Be ready to support your ranking with sound reasoning.
  7. 7. Ethics Ethics – a code, usually belonging to a profession or occupation, indicating what is right and wrong; acceptable practices and behavior Ethical behavior has to do with adhering to a code of ethics
  8. 8. Social Responsibility ? There is one and only one social responsibility of business—to use its resources and engage in activities designed to increase its profits so long as it stays within the rules of the game, which is to say, engages in open and free competition without deception or fraud. –Milton Friedman
  9. 9. Carroll 4 Responsibilities Economic (Must Do) Legal (Have to Do) Ethical (Should Do) Discretionary (Might Do)
  10. 10. Morality Morality has to do with adhering to principles of good versus bad behavior; usually on the basis of philosophy or religious belief Kohlberg’s Levels of Moral Development: Pre-conventional Conventional Principled
  11. 11. Ethical Decision Making “When in Rome…” (Moral Relativism) The “American Express” Approach Utilitarian Individual Rights Is there such a thing as universal truth?
  12. 12. Ethical Decision Making Justice Approach Distributive Justice Retributive Justice Compensatory Justice
  13. 13. Kant and Cavanaugh Kant: A person’s action is ethical, only if he is willing to have that same action taken by everybody else, who is in a similar situation. A person should never treat another human being simply as a means, but always as an end. Cavanaugh: Utility Individual Justice Application: Adding false expenses to a company expense account.

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