Contemporary Principles Of Management Chapter 3a.

10 October 2022
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International forces
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changes in the economic, political, legal, and technological global system that may affect an organization
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Which of the following describes the system of corporate governance?
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governing a company so that the interests of corporate owners and other stakeholders are protected
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A supplier is an external stakeholder that
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provides raw materials, services, equipment, labor, or energy
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social audit
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What mechanism is used to provide a systematic assessment of an organization's performance in implementing socially responsible programs, often based on predefined goals?
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Local communities are stakeholders of organizations because communities
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rely on the tax base from companies and the jobs the company provides.
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lack of independence from the CEO
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With regard to boards of directors, and in particular their oversight of the CEO, the board of directors' _______ is the biggest complaint.
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economic, technological, sociocultural, demographic, political-legal, and international
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Which forces are part of the macroenvironment?
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Which of the following is an example of a green policy or action?
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Coca-Cola has pledged to replenish (return to nature) all the water it uses to make its beverages
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general environment
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What is a synonym for the macroenvironment? the economic, technological, sociocultural, and political/legal trends that indirectly affect all organizations
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Political and Legal Forces
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____ forces affect the way politics shape laws and the way laws shape the opportunities for and threats to an organization. For example, some cities in the United States (including New York and San Francisco) have set the minimum wage far above the federally mandated minimum wage.
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Technological Forces
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_____ forces lead to new developments in methods for transforming resources into goods or services. For example, a new technique called hydraulic fracturing (or fracking) has been developed to harvest natural gas trapped below the earth's surface.
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code of ethics
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A(n) ____ is a formal written set of ethical standards guiding an organization's actions.
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Respect for impartial standards of fairness and equity
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______ guides the justice approach to deciding ethical dilemmas.
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Sustainable economic development
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meets present needs without compromising the ability of future generations to meet their needs.
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External Stakeholders
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To focus on improving company customer service this year, the CEO of a pet food manufacturer outlined a list of stakeholders to concentrate on: distributors, local communities, and the mass media. These three groups are
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Ethics
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the principles of right and wrong that influence behavior
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Marie and Marti are partners who solely own M and M Florist. As owners, they can
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claim the organization as their legal property.
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An organization's internal stakeholders consist of
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the board of directors, employees, and owners.
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Individual approach
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Consider the following situation: Local livestock farmers could allow the runoff of manure nutrients into a stream that feeds a local lake because polluting the stream helps farmers in the short term. However, farmers will act ethically in the short run to avoid harming others in the long run because doing so is also in the farmer's best long-term interests. This type of thinking reflects the _____ approach to deciding ethical dilemmas.
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Crowdfunding
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Which type of funding raises small amounts of money from many people to finance a new venture?