Why is the subject of managerial economics relevant to the problem of global warming? In 5 sentences.
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- Read the article posted in this module titled "Confucius on Management: Understanding Chinese Cultural Values and Managerial Practices" and watch this short (4:29) video: https://www.youtube.com/watch?v=wFt_VGG0kJU Choose one of Confucius's teachings and describe how that principle relates to your personal ethical perspective. Does it support your perspective or contrast with your perspective? How does this principle compare to one of the other ethical perspectives covered in Chapter One (Utilitarianism, Altruism, etc.)? Is it quite similar or quite different? Be sure to cite your sources..Assume that you are a high level manager for a shoe manufacturer. You know that your firm could increase its profit margin by producing shoes in Indonesia, where you could hire women for $40 a month to assemble them. You also know, however, that a competing shoe manufacturer recently was accused by human rights advocates of engaging in exploitative labor practices because the manufacturer shipped shoes made by Indonesian women working for similarly low wages. You personally do not believe that paying $40 a month to Indonesian women is unethical, because you know that in that impoverished country, $40 a month is a better than average wage rate. Assuming that the decision is yours to make, should you have the shoes manufactured in Indonesia and make higher profits for your company? Or should you avoid the risk of negative publicity and the consequences of that publicity for the firm’s reputation and subsequent profits? Are there other alternatives?Managerial economics is often said to help the business student integrate the knowledge gained another courses. How is this integration accomplished?
- 1) Are CEOs and key executives worth the large pay packages they receive? Explain. 2) Do you agree with Peter Drucker that corporate executives should receive compensation packages no larger than a percentage of the pay of hourly workers? Explain. 3) Do you think that executives in the broader public sector, such as hospital executives, should receive such large pay packages?Most people think of them as the walking dead, a being without a soul or someone with no free will. This is true. But the zombie is not an alien enemy who’s been CGI-ed by Hollywood. He is a New World phenomenon that arose from the mixture of old African religious beliefs and the pain of slavery, especially the notoriously merciless and coldblooded slavery of French-run, pre-independence Haiti. In Africa, a dying person’s soul might be stolen and stoppered up in a ritual bottle for later use. But the full-blown zombie was a very logical offspring of New World slavery. write this paragraph on your wordExplain the major ethical theories discussed in class that business people can use to guide their decisions. Which theory do you feel is best in the modern business world? Explain your opinion.
- What if we have a very ambitious employee-- one who does not presently possess the skills needed-- can we raise this person up to become the best person for the job?1. Under what broad risks will you place these risk factors? Economic Distress Mismanagement Technological Causes Working Capital Problems Fraudulent Management Lack of board effectiveness Boards' risk blindness Poor leadership on ethos and culture Defective communication Excessive complexity Inappropriate incentives Information "glass ceiling" Managerial inefficiency and ineffectiveness Over expansion Ineffective sales force High production costs Poor financial management Risk assessment strategy Inappropriate commercial policy Absence of manpower training and development policy Capital inadequacy Socio cultural factors Income instability Public policyyou are a middle manager helping to implement a new corporate cost-cutting strategy and youre meeting skepticism, resistance and in some cases outright hostility from you subordinate. what ways might you or the company have been able to avoid this situation?
- According to Michael Porter, the conventional wisdom in business and economics is that there is a trade-off between social performance and economic performance. Do you agree with the conventional wisdom statement? Why/Why not? Motivate your answer with an adequate example.Do you believe that the compensation changes at Best Buy are a major reason for its current difficulties? Explain.What will you say when you find out that Mary lied on her résumé about having a master’s degree? Will you feel that Mary got what she deserved, or should her outstanding job performance have helped management look past this issue?