MGM101H5 Lecture Notes - Lecture 3: Chris Argyris, Gated Community, Hawthorne Effect

• School: UTM
• Department: Management
• Course: MGM101H5
• Professor: Dave Swanston

Document Summary

Volkswagen value dropped 40% few days, shareholders lost ton of money ( billion) Managers have to consider needs of all shareholders, trade-offs need to be made. Because you have to make trade-offs some shareholders don"t get what they want. Public traded companies managers make decisions to benefit shareholders. One of the key underline of these theories are these people are rational and driven by economic concerns. Maslow"s theory of human needs: if you have employs that are just trying to pay rent, offering them professional employment doesn"t matter, they need a raise. Likewise someone in a gated community won"t care about small raise all they want is more authority. Contingency thinking: the appropriate approach of actions depends on the context. Evidence-based managements: managers now collect evidence and data to support decisions, can"t just make key decisions based on own opinions. Global strategist understanding the interconnections among nations, cultures and economies. Master of technology comfortable with information technology.