MGT 3120 Lecture Notes - Lecture 5: Foreign Direct Investment, Business Cycle, Franchising
29 Dec 2016
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5 short answer questions and 25 multiple choice questions. Features that make a contract enforceable: mutual assent (offer & acceptance, it"s a legal matter, both parties are competent, consideration, something of value, proper form. Legal basis of us businesses: us constitution, state & local constitution, uniform commercial code. Characteristics of a market economy: private ownership of property, competition, risk, choice, relatively little govt interference. Corporate governance- the active oversight (looking over) of management decisions, usually by the board of directors. Shamrock organization: core full time workers, consultants (contracts, part time- temporary. Efficiency: getting things done on time within budget, little waste. Ethics & believe system of right or wrong. Utilitarian: is that ethical behaviour which benefits the the most. Individualism- what is the best of the individuals. Many organizations have a written code of ethics:make things clear, take this seriously. Decision making: systemic- approaching problems in a rational, step by step maneuver.
