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Canada (509,088)
GMS 802 (18)
Jian Guan (17)

chapter 3

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Global Management Studies
GMS 802
Jian Guan

Chapter 3 Ethics Stakeholders Corporate Strategy and Value Creation Four Major Trends in BusinessEconomic deregulationless government controlPolitical liberalizationfall of communism market reformsEnvironmental stewardshiptaking better care of the worldAdvances in Information Technologybrings vast improvements in productivity and innovationA New Way to Think about Business Old Way Managerial View New Way Stakeholder Approach Shareholders are the center of the businessBusiness is a set of relationships among groups thatChange only happens when the shareholders are have a stake vested interest in the activities of the unhappy businessShareholders are only one of many stakeholdersThe Dominant Model Managerial Capitalism with Shareholders at the CenterShareholder capitalism managerial viewlaissez faireSeparation fallacyEdward Freeman suggests that most theories of business rely on separating business decisions from ethical decisions Integration Thesis IMost business decisions or statements about business have some implicit ethical viewMost ethical decisions or statements about ethics have some implicit view about businessIntegration Thesis II 1 It makes no sense to talk about business without talking about ethics 2 It makes no sense to talk about ethics wi
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