MANGMT 3000 1st Edition Lecture 9 Outline of Last Lecture I Stakeholders II Task environment Outline of Current Lecture I Ethics II Strategy Current Lecture Ethical dilemma situation in which you have to decide whether to pursue a course of action that my benefit you or your org but that is unethical or even illegal Ethics standards of right and wrong that influence behavior Values relatively permanent and deeply held underlying beliefs and attitudes that help determine a person s behavior Organizations may have two value systems that conflict 1 Value system stressing financial performance 2 Stressing cohesion and solidarity Four approaches to deciding ethical dilemmas 1 Utilitarian guided by what will result in the greatest good for the greatest number of people 2 Individual what will result in the individual s long term interest which ultimately are in everyone s self interest 3 Moral rights respect for the fundamental rights of human beings 4 Respect for impartial standards of fairness and equality Kohlberg s theory Level 1 preconventional follows rules These notes represent a detailed interpretation of the professor s lecture GradeBuddy is best used as a supplement to your own notes not as a substitute Level 2 conventional follows expectations Level 3 postconventional guided by internal values Social responsibility manager s duty to take actions that will benefit the interests of society as well as of the org Corporate responsibility model notion that corporations are expected to go beyond following the law and making a profit Philanthropy making charitable donations to benefit humankind Strategic positioning attempts to achieve sustainable competitive advantage by preserving what is distinctive about a company Growth strategy involves expansion Stability no significant change Defensive reduction in org s efforts Strategy formulation implementation Competitive intelligence gaining info about one s competitor s activities so you can anticipate their moves react appropriately SWOT analysis org strengths org weaknesses org opportunities org threats Porter s five competitive forces 1 2 3 4 5 Threat of new entrants Bargaining power of suppliers Bargaining power of buyers Threat of substitute products or services Rivalry among competitors BCG matrix evaluating strategic business units on the basis of their business growth rates and their share of the market
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