MANA 466 Lecture Notes - Lecture 2: List Of Corporate Collapses And Scandals, Decision-Making, Economic System

• School: Concordia University
• Department: Management
• Course: MANA 466
• Professor: Jisun Y U

Document Summary

A lot of issues are related to human aspect which is heavily influence by culture and institutions. Affects the way company enters the a market. Regulative social institution: there are explicit rules or laws. Normative social institution: not necessarily a good thing but this is what everyone is doing. In a business setting, you have to dress appropriately. Many corruptive ways of doing things is considered to be a norm. In order to excel in every market, you need to know the rules and all the strategy that will best benefit the company. This is one of the challenge that mnc faces. Coercive mechanism if do not follow the rule, punishment. Mimetic mechanism firms copy the ways other firms do business. Loss of legitimacy firms competing in a market. What does it mean ? lost of market share because of corporate scandal.