MGTS1301 Introduction to Management Final Exam Guide
Prepare to excel in your MGTS1301 course with the Introduction to Management Final Exam Guide. This comprehensive study resource is designed for students seeking to reinforce their understanding of key management concepts and strategies, ensurin...
MGTS1301 Introduction to Management Final Exam Study notes
Lecture 5:
Ethics and Social Responsibility
Human behaviour falls into 3 categories:
Legal Standard, Social Standard, Personal Standard Ethics: Individual levels of behaviour, Moral
principles.
Approaches to Ethical decision making:
1. Utilitarian approach: greatest good to the greatest number of people
2. Individualism approach: Individuals best long-term interests
3. Moral-rights approach: Fundamental rights and liberties 4. Justice approach: Standards of equity, fairness
and impartiality
3 Factors affecting ethical choices:
Individual Managers:
• Pre-conventional: Acts in own interest (follows rules to avoid punishment)
• Conventional: lives up to expectations of others (fulfils duties others set)
• Post-conventional: Follows self-chosen principles of justice (balances concern for individual with common good)
National Culture:
• Cultural relativism: Ethical behaviour determined by cultural context.
• Ethical imperialism: Certain behaviours that should be assumed unacceptable anywhere.
The Organisation:
• Values of an organisation or department
• The socialisation employees( Hero’s and stories of employees affecting others choices)
• Other factors: e.g: rules, rewards, staff selection, standards, leadership
Corporate Social Responsibility: Organisation level of behaviour. Obligation for organisations to make decisions
enhancing welfare of organisation and society.
Classical Economic Perspective: Only responsible to maximising shareholder profits.
Stakeholder Perspective: Concerned for broader social welfare of all stakeholders, not just profits.
Organisation’s performance is measured by:
• Financial outcomes
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• Environmental outcomes
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, • Societal outcomes
Organisation’s Social Responsibilities
• Economic
• Legal
• Ethical
• Discretionary
Organisational responses to Social demands
• Obstructive response: denies responsibility (concerned only with economic responsibility)
• Defensive response: admits some errors, defends self on others (concerned with economic and legal
responsibilities only)
• Accommodative response: accepts social responsibility and complies with public interest (concerned with
economic, legal and ethical responsibilities)
• Proactive response: seeks for public interest without external pressure (concerned with all social
responsibilities)
Managing Ethics and social responsibility:
• Leadership by example: Leaders commitment to values reflected through organisation.
• Codes of ethics: combining… Principal-based statements (organisational values) with Policy-based statements
(procedures to use in ethical situations)
• Ethical structures: Having ethics committees and training programs.
• Supporting Whistle blowers: Employees of illegal/immoral practices by organisations telling them off.
Lecture 6:
ENVIRONMENT AND CORPORATE CULTURE
Environment of Organisations:
External Environment: Outside the boundary of the organisation General Environment: The outer layer of the
external environment that affects the organisation indirectly.
1. International dimension: Events in other countries or opportunities for locals in other countries.
2. Technological dimension: Technological advancements in a specific industry and society at large.
3. Sociocultural dimension: The values of the population within which the organisations operate in.
4. Economic dimension: Overall economic health of the country or region in which the organisation
operates.
5. Legal-Political dimension: Government relations and political activities designed to control
organisational behaviour.
6. Natural dimension: All elements that occur naturally on earth, including natural resources.
• Task Environment: The inner layer of the external environment that directly influences the organisation.
1. Customers: People/Organisations who acquire goods from organisation
2. Competitors: Other organisation in the same industry that provide goods and services to the same set
of customers.
3. Suppliers: Provides the resources the organisation uses to produce output.
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4. Labour market: People available for hire by organisation.
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