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- Ethical IssuesThe following statements have appeared in newspaper editorials:1. Business students come from all segments of society. If they have not beentaught ethics by their families and by their elementary and secondary schools, abusiness school can have little effect.2. Sacrificing self-interest for the collective good won’t happen unless a majorityof Americans also accept this premise.3. Competent executives manage people and resources for the good of society.Monetary benefits and titles are simply the by-products of doing a good job.4. Unethical firms and individuals, like high rollers in Las Vegas, are eventuallywiped out financially.Required:CONCEPTUAL CONNECTION Assess and comment on each of the statements.Identify what you think are the critical issues facing contemporary management. Explain.List the four approaches that are used to describe values for guiding ethical decision making, Briefly describe each?
- (1) If you go to work tomorrow morning and your bossasks you to do something you consider unethical,what factors will you take into consideration beforeresponding? (2) How can you balance the businessneed to inspire employees to compete aggressivelywith the moral need to avoid competing unethically?Corporate social responsibility is a form of management that considers ethical issues in all aspects of the business. A company's strategic decisions have both social and economic consequences. A company's social responsibility is central to the strategy formulation process. In that regard, provide and discuss FOUR (4) critical approaches to hhow businesses can establish a position of ethical responsibility today.What are the underlying values that inform each side of the debate in today's debate (e.g., values like wealth maximization and corporate social responsibility)? Can these sides be reconciled and, if so, what must happen to bring them together? Does virtue have a role to play here; if so, how?
- How probablity-impact matrix can help the management?MANAGERIAL ECONOMICS 7. Make a complete description of the various risks and uncertainties faced by the company and ways to overcome them; give 2 (two) concrete examples of business decisions that anticipate risks and uncertainties!A) What are the types of corporate political strategies and the influences on an organization’s development of a particular strategy? B) SHOULD CORPORATIONS HAVE A SOCIAL RESPONSIBILITY THAT GOES BEYOND MAKING PROFITS ?
- 1. Why are policies important? 2. How can managers effectively implement policies within an organization? 3. What is decision making? 4. Explain the different types of decisions and give an example for each type.1.Explain why good ethics is good business in strategic management. 2.Explain why whistle-blowing, bribery, and workplace romance are strategic issues. 3.Discuss why social responsibility and policy are key issues in strategic planning. 4.Discuss the nature of environmental sustainability and why it is a key issue in strategic planning. 5.Explain why animal welfare is a strategic issue for firms.RESOLVING ETHICAL BUSINESS CHALLANGES : QUESTIONS • EXERCISES1. Identify the ethical and legal issues ofwhich Albert needs to be aware.2. Discuss the advantages anddisadvantages of each decision thatAlbert could make and has made.3. Identify the pressures that havebrought about these issues.