MGT 305 1st Edition Exam 1 Study Guide Lectures 1 12 Chapter 1 Management and Organization Lecture 1 August 27 Who are managers A manager is someone who coordinates and oversees the work of other people so that organizational goals can be accomplished Why are they important They play crucial roles and perform crucial functions Functions planning organizing leading controlling performance evaluation Roles Interpersonal roles informational roles decisional roles Top managers highest level CEO CPO etc responsible for big picture thinking and long term company goals Middle managers supervise managers and non mangers do budget work progressive duties and are a liaison between levels of employees First line managers little financial responsibility supervise non managers What is ROWE Results only work environment Employees are paid for the amount and quality of work they get done not necessarily for hour many hours they worked Flexible schedules applies to some jobs more than others Results in employee empowerment and lots of accountability Chapter 4 Managing Diversity Lecture 2 August 29 What is diversity and why is it important Diversity has to do with variety and has many factors including ethnicity gender ideals and ways of thinking Diversity is important because it provides a company with the ability to look through different perspectives business legal and ethical People can incorporate their past experiences and framing stories into decision making processes offer diverse opinions Legal Case for diversity protection against discrimination based on sex age race color religion sex national origin disability and pregnancy childbirth Business Case for diversity inclusion wealth of different ideas and perspectives Ethical case for diversity prevention of discrimination based on unfair personal judgments What is the difference between diversity and inclusion How are they both important Diversity means having a wide range of variety among your employees Inclusion is the extent to which employees feel valued and included by an organization They are both important for the following reasons Greater innovation and creativity more brought to the table Better decision making well rounded perspective Better service to diverse customers greater chance of relating to customer Access to full applicant pool if you don t discriminate based on superficial qualities like age or gender there are more options for applicants Access to wider range of ideas everyone comes from different backgrounds Lower rates of turnover and illegal suits a more accepting atmosphere means less conflict at work Diversity of thought can lead to engagement innovation and risk prediction What are the challenges to managing diversity Personal Bias when people have a personal opinion that some things are better than others Prejudice disliking a person or groups of people for unfair reasons Stereotyping judging a group of things or people as all the same just because they share a similar characteristic Discrimination recognizing that things people are different can become negative if you re treating people differently from others based on those differences Glass ceiling the highest accomplishment someone of a certain group can reach o Example the discriminatory idea that women can only go so high in the workplace hence why there are so few women CEOs What is the manager s role in valuing diversity and inclusion Model and reward pro inclusion behaviors o Open environment collaborative and shares goals with employees Acknowledge biases and stereotypes Offer effective diversity programs o Increase employer and employee knowledge about the three cases for diversity o Make training skill based for promoting inclusion in the workplace o Don t approach diversity as a one time detached event Chapter 5 Managing Social Responsibility and Ethics Lecture 3 September 3 What is corporate social responsibility CSR How does it contrast social obligation and social responsiveness CSR is a business s intention beyond its legal and economic obligations to do the right things and act in ways that are good for society An example of this would be choosing an environmentally friendly option even if it costs more or providing free childcare for employees This is different from social obligation and responsiveness Social obligation the obligation of a business to meet it s economic and legal responsibilities o Example obligation to maximize profits Social responsiveness when a company engages in social actions in response to some popular social need o Example market oriented decisions guided by social norms or values like Ford s decision to endorse the federal ban on texting and driving What is the triple bottom line The triple bottom line it people planet profit An approach that supports sustainability over simply making a profit What are some challenges with why corporations fail to do the right thing People lie Safety violations often not reported People don t talk to each other Departments don t communicate Safety and responsibility cost money Up front costs of safety preventative measures Few people bear witness If higher ups don t see something they are unlikely to fix it No one know what corporate social responsibility is No universal standard not widely taught Consumers won t pay more What are ethics Ethics are moral principles that dictate how someone leads their life makes decisions Describe Kohlberg s Stages of Moral Development People progress through stages of ethical development 1 Pre conventional Judge an action by it s direct consequences self interest driven 2 Conventional Judge an action by society s view and expectations 3 Post conventional principled Morality is guided by principles of right and wrong that are independent of societal expectations Imagining what the other person would think is right wrong given what they know Describe value based management The organization s values guide employees in the way they do their jobs Describe issue intensity Issue intensity is how relevant or important you perceive the ethical issue How can managers promote ethical behavior Organizational culture Risk and conflict tolerant environment Protective mechanisms Something to protect employees when they see something unethical Role modeling ethical behavior Importance of setting a good example related to how a manager is rewarding reprimanding employees Performance goals and Appraisal Make goals not just profit based Employee selection