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FUNDAMENTALS OF MANAGEMENT 8TH EDITION PDF

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Robbins Fundamentals Of Management 8th Edition - [Free] Robbins Fundamentals Of. Management 8th Edition [PDF] [EPUB] A First Course in. Fundamentals of Management,. Eighth Edition. Ricky W. Griffin. Vice President, General Manager, Social. Science & Qualitative Business: Erin. Joyner. Product. Griffin Solutions Manual fundamentals of management 8th edition griffin pdf free C. Fundamental Management Skills Management Update: In recent years, .

Part I has two chapters. After a brief introduction, the chapter describes the management process, the various kinds of managers, and managerial functions and skills. Next, the art and science of management is described. The history of management is then discussed, beginning with a discussion of the role of theory and history in management. Next, the chapter introduces and discusses in detail the classical, behavioral, and quantitative perspectives on management. Integrating perspectives for managers are then described.

After a brief introduction, the chapter describes the management process, the various kinds of managers, and managerial functions and skills. Next, the art and science of management is described.

The history of management is then discussed, beginning with a discussion of the role of theory and history in management. Next, the chapter introduces and discusses in detail the classical, behavioral, and quantitative perspectives on management.

Integrating perspectives for managers are then described. The chapter concludes by identifying several contemporary management challenges.

Define management, describe the kinds of managers found in organizations, identify and explain the four basic management functions, describe the fundamental management skills, and comment on management as a science and art. Justify the importance of history and theory to managers and explain the evolution of management thought through the classical, behavioral, and quantitative perspectives.

Identify and discuss key contemporary management perspectives represented by the systems and contingency perspectives and identify the major challenges and opportunities faced by managers today. The opening incident describes how Reed Hastings and co-founder Marc Randolph launched Netflix, made it into the industry leader in DVD rentals, and basically destroyed that advantage by moving aggressively to streaming video.

By , Hastings realized that streaming or video-on-demand was likely to disrupt conventional DVD-based viewing. He quickly repositioned Netflix to take advantage of this change, even if it meant destroying all that the company had built in the DVD business. Management Update: Netflix reported strong revenue and profit gains for fiscal An Introduction to Management Many different definitions of management exist.

Teaching Tip: Note the similarities and differences among the kinds of resources used by profitseeking and not-for-profit organizations. For example, both an airline and a university may download food in bulk, but they have different revenue sources to pay for that food.

Group Exercise: A good icebreaking exercise for the first day of class is to have students form into small groups, select two or three different kinds of organizations, and identify examples of the different kinds of resources they use.

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Efficient means using resources wisely and in a cost-effective way. Effective means making the right decisions and successfully implementing them. Kinds of Managers 1. Managers at different levels of the organization a Top managers are the small group of executives who control the organization by setting its goals, overall strategy, and operating policies.

Top managers also represent the organization to the external environment. Job titles for top managers include CEO, president, and vice president. While CEO salaries have risen over the years, they have been affected by the economic downturn. Middle managers are the largest group of managers in most companies. These managers hold positions such as plant manager, operations manager, and division head. They primarily take the goals and strategies designed by top managers and put them into effect.

They supervise lower-level managers. They often have job titles such as foreman, supervisor, and office manager. The majority of their work is direct supervision of their subordinates. Areas of management a Marketing managers work in areas related to the marketing function of the organization.

Discussion Starter: Point out for students that their major will play a large role in determining the area of management they enter after graduation assuming that they go to work for a large organization. They achieve their goals through production control, inventory control, quality control, and plant site selection and layout.

Human resource managers are responsible for hiring and developing employees. They are concerned with the flow of employees into the organization, through the organization, and out of the organization.

General managers are generalists who have some basic familiarity with all functional areas of management rather than specialized training in any one area. Ask students to identify additional examples of managers, with an emphasis on as many different kinds of organizations and management positions as possible.

The wide variety of answers that is likely to emerge can be used to stress the diversity that exists in managerial work. Basic Management Functions The management process, as noted earlier, involves the four basic functions of planning and decision making, organizing, leading, and controlling. Extra Example: He planned how the firm will increase the value of its stock. He had a reputation for being well liked, thanks to his self-deprecating sense of humor.

Planning and decision making determine courses of action. Decision making, a part of the planning process, involves selecting a course of action from a set of alternatives. Organizing is grouping activities and resources. The most significant trend in organizing today is the elimination of management layers to create organizations that are leaner and flatter.

Pdf edition fundamentals of management 8th

Leading is the set of processes used to get people to work together to further the interests of the organization. Controlling is monitoring the progress of the organization as it works toward its goals to ensure that it is effectively and efficiently achieving these goals.

Fundamental Management Skills Management Update: In recent years, there has been a renewed interest in the concept of managerial skills. There are useful self-assessment skills exercises found at the end of each chapter in this book.

Technical skills are necessary to accomplish or understand tasks relevant to the organization. However, he silenced his critics by immersing himself in the study of new technology and soon became a knowledgeable expert.

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Interpersonal skills rely on the ability to communicate with, understand, and motivate individuals and groups. Diagnostic skills consist of the ability to recognize the symptoms of a problem and then determine an action plan to fix it. Communication skills are abilities to effectively convey ideas and information to others and effectively receive ideas and information from others.

Decision-making skills include the ability to correctly recognize and define problems and opportunities and to then select an appropriate course of action to solve problems and capitalize on opportunities. Time management skills are abilities such as prioritizing work, working efficiently, and delegating appropriately.

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One of the criticisms of Martha Stewart, head of Living Omnimedia, is that she has a hard time delegating tasks to her subordinates and becomes personally involved in too many decisions. Stewart, however, responds that her attention to detail is an important factor in her success. The Science and the Art of Management 1. Management is partly a science, because some aspects of management are objective and can be approached with rationality and logic.

The science of management might be analogous to the activities of developing computer hardware or playing a violin. There are specific right and wrong ways of doing things, and mistakes are easily noted.

Management is partly an art, because some aspects of management are subjective and are based on intuition and experience. The art of management might be analogous to the activities of writing computer software or conducting the orchestra. The Evolution of Management A. Then point out that their explanation is a theory. Go on to stress the point that theories are simply frameworks of thought and that most people hold a number of different theories. Why theory? Theory provides a simple conceptual framework for organizing knowledge and providing a blueprint to help organizations achieve their goals.

Andrew Grove continued to espouse his theory of organizations at Intel until his retirement. Why history? Contributions from past industrialists have molded the American culture, and managers can benefit from an awareness of these contributions. Interesting Quote: Ask students if they have read any books about history that may help them be better managers.

The Historical Context of Management While the practice of management can be traced back thousands of years, it was not given serious attention until the s, when large organizations emerged. Global Connection: Many Japanese executives today give some of the credit for their success to a book written in The book, entitled A Book of Five Rings, was written by a samurai warrior.

The book describes numerous ideas and concepts for successful competition that can be generalized to management. Ask students to think about social, economic, and political forces today that may shape the way business will be conducted in the future.

How can managers better anticipate these changes? The Classical Management Perspective The classical management perspective includes two approaches: Scientific management focuses on ways to improve the performance of individual workers. Taylor saw workers soldiering, or deliberately working beneath their potential.

He divided each job into parts and determined how much time each part of the job should take, thus indicating what each worker should be producing. He designed the most efficient way of doing each part of the job, and instituted a piecework pay system with incentives for workers who met or exceeded the target output level. Ask students if they have ever observed soldiering. Frederick Taylor applied many of the concepts of scientific management to his favorite sports, lawn tennis and croquet.

Frank and Lillian Gilbreth, a husband-and-wife team, also helped to find more efficient ways for workers to produce output. Ask students to discuss or debate the merits of time-and-motion studies and other efficiency techniques. Another area in which Frank and Lillian Gilbreth made substantial contributions was in assisting the handicapped. In particular, they helped develop vocational training methods for assisting disabled veterans. Other businesses today that rely heavily on scientific management concepts include poultry processing plants and recycling centers that sort glass, plastics, and papers into different categories.

Administrative management focuses on managing the total organization. These guidelines form fourteen principles for effective management. Lyndall Urwick is best known for integrating scientific management with administrative management.

His work is the foundation of contemporary organization theory. Note the influence of foreign scholars. Assessment of the classical perspective a Contributions of the classical perspective are that it laid the foundation for management theory; it identified key processes, functions, and skills that are still important today; and it made management a valid subject of scientific inquiry.

The Behavioral Management Perspective The behavioral management perspective placed more emphasis on individual attitudes and behaviors and on group and behavioral processes.

Hugo Munsterberg and Mary Parker Follett were early contributors to this perspective. Again, note the international influence on management, as evidenced by Hugo Munsterberg, a German psychologist. The Hawthorne studies Discussion Starter: Ask students if they have ever been in a group that deliberately limited its productivity or output.

The Hawthorne studies, performed by Elton Mayo, showed that when illumination was increased, productivity increased. However, productivity also increased in a control group, where the lighting did not change.

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The increase in productivity was attributed to the fact that the workers were having extra attention paid to them, maybe for the first time. Instead, they will perform to the level informally set by the group in order to be accepted by the group.

These two studies, and others, led Mayo to the conclusion that individual and social processes played a major role in shaping employee attitudes and behavior at work. Recent evidence suggests that important details about the Hawthorne studies were not reported properly.

For example, all the workers in the illumination study were paid extra for participating. What, if any, implications might be drawn from this? Use Table 1. Contemporary behavioral science in management The emergence of organizational behavior occurred because of the too-simplistic descriptions of work behavior by the human relationists.

Organizational behavior takes a holistic view of behavior, including individual, group, and organization processes. Assessment of the behavioral perspective a Contributions include that it gave insights into interpersonal processes, focused managerial attention on these processes, and challenged the view of employees as tools and not resources. Limitations include that prediction is difficult due to the complexity of human behavior, managers may be reluctant to adopt some of the behavioral concepts, and contributions may not be communicated to practicing managers in an understandable form.

The Quantitative Management Perspective The quantitative management perspective focuses on decision making, economic effectiveness, mathematical models, and the use of computers in organizations.

The two branches of the quantitative perspective are management science and operations management. If your school has either or both courses, identify its number and title for your students and briefly review their topical coverage i. Management science Management science focuses specifically on the development of mathematical models. These models help organizations to try out various activities with the use of a computer. Modeling can help managers locate the best way to do things and save money and time.

Operations management Operations management is an applied form of management science that helps organizations develop techniques to produce their products and services more efficiently.

General Motors uses elaborate management science and operations management models to determine the optimum number and types of cars to make during a given period of time, what options to put on them, and so forth. Assessment of the quantitative perspective a Contributions include that it developed sophisticated quantitative techniques that improve decision making, and it increased awareness of complex organizational processes.

Contemporary Management Perspectives A. The Systems Perspective 1. A system is an interrelated set of elements functioning as a whole.

An organization as a system is composed of four elements: Break students up into small groups. Have them select an organization and diagram its inputs, transformation processes, outputs, and feedback mechanisms. Open systems are systems that interact with their environment.

Closed systems do not interact with their environment. Subsystems are systems within a broader system. Synergy refers to units that are more successful working together than working alone.

Entropy is the process that leads to decline. Note the subtle but important distinction between entropy and poor management.

The Contingency Perspective Appropriate managerial behavior depends on the elements of the situation. The contingency perspective argues that universal theories cannot be applied to organizations because each is unique. Form small groups of students. Have them identify a problem or opportunity facing a business or other organization. Then have them identify elements and ideas from the classical, behavioral, and quantitative perspectives that might be relevant.

In addition, ask them to discuss how systems and contingency perspectives might affect the situation. Contemporary Management Challenges and Opportunities 1. Books written for the popular press, including executive biographies and profiles of successful companies, are having an important impact on the theory and practice of management today. Management challenges include the following: What are the three basic levels of management that can be identified in most organizations?

How precise are the lines differentiating these levels? In which of the basic areas do managers work? Top managers manage the overall organization.

Middle managers are primarily responsible for implementing the policies and plans developed by top managers and for supervising and coordinating the activities of lower-level managers. First-line managers supervise and coordinate the activities of operating employees. How well defined are the lines differentiating these levels often depends on the type of organization and its size. Managers may work in various areas within an organization. Common areas include marketing, financial, operations, human resources, and administrative.

What four basic functions make up the management process? How are they related to one another? Planning and decision making, leading, organizing, and controlling are the four basic management functions. Each is related to and must occur simultaneously with the others. Planning and decision making are perhaps the most intertwined with the three other functions. For example, managers must plan and make decisions about how to lead, organize, and control. Another example of an important interrelationship is how managers must balance the need for control against the need for autonomy that makes leadership easier.

Identify several of the important skills that help managers succeed. Give an example of each. How might the importance of different skills vary by level and area within an organization? Managerial skills include technical, interpersonal, conceptual, diagnostic, communication, decision making, and time management.

Technical skills are specialized skills related to a specific area or a specialized industry. An example is an oil and gas exploration project leader who holds an engineering degree. Interpersonal skills are the ability to understand and motivate others. An example is a manager who knows how to give rewards that will motivate workers. Conceptual skills consist of abstract and logical thinking that will aid the manager as an innovator and an integrator.

An example is an architect who is able to see what a house will look like from just studying a blueprint. Diagnostic skills are the ability to observe the current situation and understand the cause-andeffect relationships that are leading to success or failure.

An example is a manager who recognizes that productivity is dropping in an area and is able to investigate and isolate the problem. Communication skills are the ability to give and receive information. An example is a manager who has the skills needed to plan and run an effective business meeting.

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Decision-making skills are the capacity to choose the correct course of action, based on information. An example is a manager who introduces a new product just at the time when customers are demanding that product. Time management skills are the ability to prioritize appropriately and to use time resources effectively. An example is a manager who spends more time on critical tasks, such as training workers, and less time on routine tasks, such as reading routine reports.

In a large organization with distinct layers of management, these skills are likely to vary significantly, but may not be so in smaller organizations where these levels are not distinct.

Briefly describe the principles of scientific management and administrative management. What assumptions do these perspectives make about workers?

To what extent are these assumptions still valid today? The principles of scientific management and administrative management are founded upon concerns about efficiency. Scientific management looks at the performance of individual workers and attempts to improve productivity through measures such as incentive pay systems, optimal task design, specialized training, and careful selection of the most productive workers.

Administrative management looks at the performance of the organization as a whole and attempts to improve overall organizational efficiency by utilizing bureaucracy, effective planning, topdown coordination and control, and so on.

Both scientific management theory and administrative management theory assume that workers do not like to work, accept responsibility, or change their behavior; that they are motivated only. One could argue that many of these assumptions are valid even today. Describe the systems perspective. Why is a business organization considered an open system? The systems perspective describes an organization as a set of elements that function together as a whole.

The theory looks at the linkages between elements and at the functioning of the system, from inputs to transformation processes to outputs and feedback. Systems theory also investigates the interaction of the system with its environment.

A business organization has a lot of interactions with its environment, including the labor force, customers, regulators, and local communities. Thus a business organization is considered to be an open system because it interacts with its environment. Recall a recent group project or task in which you have participated. Explain how members of the group displayed each of the managerial skills.

Clearly, answers will vary. Students should have no trouble thinking of a situation. They should then describe how technical, interpersonal, conceptual, diagnostic, communication, decisionmaking, or time management skills were used in that situation. The text notes that management is both a science and an art. Recall an interaction you have had with someone at a higher level in an organization manager, teacher, group leader, or the like.

In that interaction, how did the individual use science? If he or she did not use science, what could have been done to use science? In that interaction, how did the individual use art? If he or she did not use art, what could have been done to use art? Examples of the use of science would include mention of rational, systematic, objective decision making or the use of quantitative models and scientific approaches to problem solving.

Examples of the use of art would include mention of intuition, experience, instinct or personal insights. Theory and Practice. Financial Management: Newer Post Home Subscribe to: Statistics for Business and Economics Essentials of Statistics for Business and Economic.

Accounting Principles 10th Edition by Jerry J Principles of Accounting. Preview Principles of Marketing Fundamentals of Human Resource Management 4th Edit Principles of Managerial Finance. The Art of Creating a Lif. New Tools and Me Advanced Macroeconomics. Neal January 3. Simple template.

Powered by Blogger. Flag for inappropriate content. Related titles. Fundamentals of Management 3 Foundations of Decision Making. Jump to Page. Search inside document. Csb Finance. Bill Benntt. Galen O'Brien Blumenthal. Amy Keith Mcdaniel. Rizwan Hussain. The layoff option will encounter resistance from workers, and the best, most experienced workers may leave the company for other employment. The download of new equipment will likely encounter resistance from the CEO or other financial personnel, based on the increase in up-front costs.

Can you think of other alternatives that might accomplish the cost-reduction goal? Students may suggest cost-cutting ideas, such as better inventory control or improved use of information systems. They may also suggest a closer integration with suppliers or use of a less expensive distribution channel.

There are possibilities for cost savings in every functional area of the firm. Purpose This instrument is designed to help students become more self-aware of their possession or lack of skills generally felt to be required of effective managers.

The intent is that students will use the feedback from this self-assessment to focus better on the skills they need to develop to increase their chances of being an effective manager. Students should be encouraged to examine their item scores for lower numbers and then to try to use their educational experiences to develop more skill in the areas identified. Purpose This exercise has two purposes: This exercise encourages students to share data about themselves and then to assimilate and process the feedback.

Format Students individually complete three lists: Quadrant 1—things that they and others know about themselves Quadrant 3—things that they know about themselves that others do not know Quadrant 2—things that they did not know about themselves but that they learned from others last semester.

Follow-up You might want to lead a group discussion on interpersonal perception as a follow-up to this exercise. Any students who wish to share how they have moved information about themselves from, say, Quadrant 3 to Quadrant 1 should be encouraged to do so.

If you are doing a major group project throughout the course, you may want to use this exercise around the middle of the term, having each student focus on Johari Window as it relates to his or her group. A variety of processes—sourcing inputs, employing skilled labor—are used to build the product and extreme care is taken every step of the way.

The vignette illustrates a variety of management principles at work, such as the systems view and the contingency perspective of management. Explain the process by which a Steinway grand piano is constructed as a subsystem of a larger system.

From what the text tells you, give some examples of how the production subsystem is affected by the management, financial, and marketing subsystems. The operations subsystem is responsible for constructing pianos.

Here, skilled employees use various inputs wood, glue, etc. The operations subsystem at Steinway and in any organization is, however, not independent of the other subsystems in the organization.

For example, the employees have to be recruited, trained, and retained by the organization the management subsystem , the inputs have to paid for and the cash flow managed over the long period from when inputs are sourced until the piano is sold the finance subsystem , and the operations process must work in tandem with the marketing subsystem to synchronize the demand and supply of the product.

Discuss the Steinway process in terms of the systems perspective of organizations summarized in Figure 1. Explain the role of each of the three elements highlighted by the figure—inputs from the environment, the transformation process, and outputs into the environment.

Fundamentals of Management 8th Edition

The company obtains various kinds of inputs—materials wood, glue , human inputs skilled labor, for example , financial inputs cash from sales of pianos —to run the business. In turn, it uses its labor and technology to transform inputs into finished products, and finally, it sells the product in the market to complete the cycle. Discuss some of the ways in which the principles of behavioral management and operations management can shed light on the Steinway process.

How about the contingency perspective? In what ways does the Steinway process reflect the universal perspective and in what ways does it reflect a contingency perspective? Behavioral management comes into play at Steinway when it comes to managing its employees. Operations management is important because Steinway builds its product very carefully and its product is meant to both perform well and be long lasting.

Steinway illustrates both the universal and the contingency perspective at work. Some things at Steinway are universal, such as building the piano.

This is a practice that has remained unchanged over the years. The contingency perspective is reflected in the situation involving the loss of a worker due to an accident. The company had to change its plans, in this case to slow down its production, until a replacement could be found. Student response may vary depending upon how they approach work. Some may like the work culture at Netflix that fosters innovation and unleashes their creativity.

Others may prefer a more structured workplace. On the other hand, if you were a stockholder in when the company briefly split into two parts and saw an adverse downturn in its stock price, you would have seen a sharp decline in your investments. Your question to him could be how to compete in an industry with significant technology shifts.

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In addition to price, what other factors, if any, are important to you? Relevant questions might include whether the employees of the acquired company would be retained, and what the role of the new company would be in Netflix.

The researcher asks if you use Netflix and if not, why not? If you do use Netflix and the researcher asks what you like and dislike most about it, what would you say?

This question is from the perspective of a user or a potential user of Netflix, so opinions are likely to vary considerably. Issues such as availability of content and price are relevant here. Then the ethical and social environments are discussed. A discussion of the international environment follows.

Finally, organization culture is described. Describe the ethical and social environment of management, including individual ethics, the concept of social responsibility, and how organizations can manage social responsibility. Discuss the international environment of management, including trends in international business, levels of international business activities, and the context of international business.

The opening vignette features the nonprofit organization, the Oregon-based Mercy Corps. In the aftermath of the devastating earthquake in Haiti, Mercy Corps quickly set up shop in that country to provide much needed relief services. The external environment is everything outside an organization that might affect it and contains the general environment and the task environment. The internal environment consists of conditions and forces within the organization.

As a result, it may not always be clear whether a particular individual or group is part of an organization or part of its environment. Discussion Question: As a follow-up, ask students whether they think alumni, campus recruiters, and bookstores are part of the organization or part of its environment. The General Environment The general environment of a business has three dimensions: The economic dimension includes the overall health of the economic system in which the organization operates, which is related to inflation, interest rates, unemployment, demand, and so on.

Note how economic conditions have affected your college or university. Specific points can be made regarding state revenues, alumni contributions, government grants, and endowment earnings. The technological dimension refers to the methods available for converting resources into products or services.

Note that Federal Express has been hurt by new technology such as facsimile machines and e-mail. For example, companies now find it more cost-efficient to fax shorter documents than to send them by express delivery. The political-legal dimension refers to government regulation of business and the relationship between business and government.

While Microsoft has resolved most of its legal problems in the United States, it still faces a number of antitrust lawsuits in Europe. The Task Environment Group Exercise: Divide your class into small groups and have each group develop a diagram similar to Figure 2.

Competitors consist of other organizations that compete for the same resources. Ask students to identify the primary competitors of your college or university. Suppliers include organizations that provide resources for other organizations. Ask students to identify the various suppliers that your college or university might use. Point out to students the various regulatory agencies that most directly affect your college or university e.

Interest groups are groups organized by their members to attempt to influence organizations. It has over 40 million members, making it one of the most powerful interest groups in the country.

It has influenced legislation on many issues, including Social Security reform and government policy on medical research. Strategic partners also called strategic allies occur when two or more companies work together in joint ventures. Microsoft Corporation has formed alliances with many other organizations, including hardware manufacturers, small software development firms, TV and appliance makers, automakers, cell phone and long distance providers, Internet service providers, and universities.

The firm hopes to gain access to customers, resources, and information through its joint ventures. The Internal Environment 1. Owners are whoever can claim property rights on an organization. In smaller businesses, the owner is likely to also be the manager. In a larger business, however, managers are more likely to be professional employees of the firm. Stockholders are the owners of publicly traded corporations.

For example, while this book treats owners as part of the internal environment, it could also be argued that owners are part of the external environment as well. Stress to students the significance of institutional owners and investors in corporations today.

Such owners and investors can exert enormous power over a corporation. A board of directors, elected by stockholders, is required of organizations that are incorporated; however, many other firms also have them. Assign groups of students one or more corporations. Have them identify the members who serve on its board of directors.

Employees are another significant element of the internal environment. The composition of the workforce is changing, employees are asking for increased job participation and ownership, and organizations are increasingly relying on temporary workers. Note that many Japanese firms used to offer guaranteed lifetime employment to some employees. In recent years, however, this practice has been abandoned by many firms.

The layout of an office or factory can be a strong influence on the way in which people interact with equipment and with each other. Walmart is known for having a very spartan headquarters office, in keeping with the cost-cutting philosophy of founder Sam Walton. The building contains plain metal desks and uncarpeted floors, even in executive office areas.

A debate that has plagued some business programs is the extent to which colleges can teach ethics. Some experts believe that ethics can indeed be taught, while other experts believe that ethics are formed much earlier and thus cannot be taught to people as they get older. Ask students for their opinions. Ethical behavior is behavior that conforms to generally accepted social norms. Unethical behavior is behavior that does not conform to generally accepted social norms.

Andrews, Harvard Business Review, October , p. Ask students if they can identify personal examples or events that shaped their ethics or the ethics of someone they know. Managerial ethics are standards for behavior that guide individual managers in their work.

Unethical behavior by management and other employees sometimes occurs because the firm has an organizational context that is conducive to such behavior. Employees who work for firms that support and encourage unethical acts, though they are in the best interests of the firm, may find themselves in a conflict-of-interest situation. Ask students to provide examples in which an organization they worked for treated them or others in an ethical or an unethical fashion.

Note that as organizations enter a period of cutbacks and downsizing, the potential for unethical treatment of employees tends to increase. Many recent ethical concerns focus on financial disclosure and transparency.

Whereas companies that consistently met their profitability targets were considered to be the most desirable investments, today the business practices and reporting methods used to reach those targets are under heavy scrutiny. General Electric, which has long-term consistent profitability, is now under suspicion for that very consistency. Effective management of ethical behavior includes the following: If your school has a code of ethical conduct for students, it might be interesting to discuss it here.

Note, for example, the similarities and differences that might exist between a university code and a business code. Ask students to identify common themes and ideas that are likely to be reflected in all corporate codes of ethics.

A number of ethical issues are receiving widespread attention today. Boards of directors are under increased pressure to provide effective oversight.

Social Responsibility in Organizations Social responsibility is the set of obligations an organization has to protect and enhance the society in which it functions. One firm that has an exemplary record of social responsibility is Target. Concerns for the environment are given low priority in some parts of the world. The clearing of the rain forests in the site basin is one significant example. Another is the continued destruction of animals facing extinction in parts of Africa. Arguments for social responsibility: Arguments against social responsibility: Ask students to help identify other specific examples of how socially responsible behavior has had a positive impact.

Managing Social Responsibility 1. Firms can adopt a number of different formal organizational stances regarding social responsibility. Ask students whether they believe tobacco will ever be outlawed. Ask their thoughts on whether or not it should be banned.

Describe how your local community regulates business through its own zoning procedures. If relevant, describe a recent controversial zoning decision. Ethical compliance is the extent to which the firm and its members follow ethical standards of behavior. Point out to students that, with the escalating diversity of viewpoints on ethical standards, organizations have increased difficulty in demonstrating ethical compliance.

Every industry, from energy to bioengineering to education, is swamped with a complex and thorny set of ethical issues today. Philanthropic giving occurs through the awarding of funds or gifts to charities and social programs. As noted, international businesses have become frequent contributors in different countries where they do business.

For example, UPS supports national Olympic teams in dozens of different countries. Informal organizational dimensions, including the culture and leadership practices of an organization, can define the social responsibility stance adopted by the organization and its members. Whistle-blowing occurs when an employee discloses illegal or unethical conduct by others within the organization.

Solicit student opinions regarding whistle-blowing. Her actions were instrumental in uncovering the alleged extensive fraud occurring at that firm.

The International Environment of Management A. Trends in International Business Extra Example: Four are European, three Chinese, and one is Japanese. For details, see Fortune. From the s to s, Europe and Japan rebuilt their factories and gained market power. Today, U. To be competitive, firms must think globally. International business touches every sector of the economy and every business and every consumer in the world.

Have students generate a list of the ten products they use most frequently. Then have them research the national origin of the companies that make them. Levels of International Business Activity Firms that plan to increase their international business activity must plan their expansion into foreign markets very carefully.

Several alternative approaches are possible. Importing and exporting are the easiest ways to enter a market with a small outlay of capital. Importing means a good, service, or capital is brought into the home country from abroad. Most small businesses begin international activity by importing or exporting.

For more information, see the SBA website at http: Stress for students that the difference in exporting versus importing is point of view. When Rolex markets its watches and ships them to U. Licensing is an arrangement whereby one company allows another to use its brand name, trademark, technology, patent, copyright, or other assets in exchange for a royalty based on sales. Franchising is a special form of licensing.

Strategic alliances occur when two or more firms jointly cooperate for mutual gain. A joint venture is a special type of strategic alliance in which the partners actually share ownership of a new enterprise. The firms entered into the partnership to compete with Kellogg, which dominated European markets. Direct investment occurs when a firm headquartered in one country builds or downloads operating facilities or subsidiaries in a foreign country.

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Maquiladoras are light assembly plants built by U. These plants receive tax breaks from the Mexican government. The passage of the North American Free Trade Agreement has increased the importance of the maquiladoras to firms doing business in Mexico. Disneyland Paris represents a combination of direct investment and strategic alliance. Disney shares both profits and losses with its European partner. Emphasize the fact that large firms use multiple methods of managing international business.

For example, Ford ships cars made in the United States to Canada exporting , contracts with Mazda to manufacture part of the Ford Probe licensing , jointly developed the Mercury Villager minivan with Nissan strategic alliance , and owns several manufacturing plants in other countries direct investment. Use Table 2. The Context of International Business 1. The cultural environment can create challenges for managers, when the countries in which a firm is manufacturing or selling a product or service have different cultures.

Religious beliefs, time and schedules, language, and nonverbal communication can all pose problems for managers in a foreign country. Ask students to predict which products made in the United States are most and least likely to be successful abroad.

Ask students which countries in Europe and Asia they have visited. Then ask how similar or different each was from the United States. Ask students to think of common business practices in the United States that might seem odd or unusual in a foreign country. If you have any international students in class, you might ask them about business practices in their home countries that would seem odd or unusual in the United States. A government can impose a variety of controls on international trade to protect its country.

The stiff trade barriers employed by the government of Japan continue to be a point of contention between that country and the United States. In an interesting reversal of normal procedures, the government of China has played Ford and General Motors against each other. Rather than offer inducements to get the automakers to set up shop in its borders, China is getting the companies to make offers on what they will give in return for the right to be the only U. Economic communities are sets of countries that have agreed to significantly reduce or eliminate trade barriers among its member nations.

One of its provisions, the granting of most favored nation status, specifies that a member country must extend equal treatment to all nations that sign the agreement.

The WTO works to promote trade, reduce trade barriers, and resolve international trade disputes. Organization culture is the set of values, beliefs, behaviors, customs, and attitudes that helps the members of the organization understand what it stands for, how it does things, and what it considers important.

Some experts would use the extent to which investors and other experts admire a company as an indication of its effectiveness. Each year Fortune conducts a survey of the most admired corporations in the world.

Apple, site, Google, and Starbucks were at the top of the list in Ask students to discuss the culture that exists in your college or university. Determinants of Organization Culture Culture develops over a long period of time.

Stories, heroes, and symbols have a powerful effect. Managing Organization Culture In order to manage corporate culture, managers must first understand the current culture. If the culture is one that is in the best interest of the firm, managers can reward behavior that is consistent with the existing culture in order to enforce it.

If the culture needs to be changed, managers must know what it is they want the culture to be and then take actions that will help to change the culture into the type management wants. One effective action is to hire outsiders, who will change the existing culture.

Identify and discuss each major dimension of the general environment and the task environment. The general environment consists of three dimensions: The economic dimension includes macroeconomic trends that impact all businesses, such as inflation and unemployment. The technological dimension includes advances in computing and communications. The political-legal dimension consists of legislation, legal proceedings, and the political climate.

Competitors, customers, suppliers, regulators, and strategic allies comprise the task environment. Suppliers include any organizations or individuals that supply resources to the firm. Regulators provide. Strategic allies are partners with the firm in joint ventures. Do organizations have ethics? Why or why not? However, the ethical norms and climate that exist within an organization can significantly affect the organization.