09 27 - Lecture Notes - Chapter 8.docx

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Department
Management and Organizational Studies
Course
Management and Organizational Studies 1021A/B
Professor
Dart
Semester
Fall

Description
Annotated reference report: passion/usefulness & specificity & relation to management Do the library skills thing to learn how to find the articles Goals: SMART and SMART2 goals Mission and vision: - ‘Acid test’? What makes a useful mission or vision statement Goals, mission and vision are meant to helpful guides for a company/organization. Mission and vision are about achieving shared clarity. Where do goals come from? What is ‘behind’ the goals? Corporate Goals What is the goal of a corporation? Profitability What are the managerial and organizational design implications of this goal? What do goals tell you about the ‘rest’ of the management? How Corporations are Structured Ownership and Equity   ‘Organon’ Shareholders/owners (max$)  Governance happens here ↑ FP Corp Implications for Management - Mainstream Shareholder (max $) Natural environment (min $) Employees (min $) Government (min tax $) ↑ Suppliers (min $) Other investments (min tax $) FP Corp Customers (max $ income) Society/community (min $) Business is about creating the max. value for shareholders – which is the main goal. Any other smaller goals must add up to equal the main goal. Which means the amount of money you’re giving your staff will be a minimum –the more money to your employees means less money to your shareholders Supplies also get the minimum – every cent you can take from suppliers is a cent you can give to shareholders. Customers get charged the maximum to bring in as much income as possible. Primary job is to give as much value to the owners. Shareholder or stockholder capitalism The Stockholder principle of organizational goals Corporations ought to maximize shareholder wealth - …while obeying the constraints of law and ethical custom Why this structure? Many corporations, stock markets etc. use this set up What about other goals? Proposed ‘business and environmental view’ Shareholder (balanced $) Natural environment (balanced $) Employees (min $) Government (min tax $) ↑ Suppliers (min $) Other investments (min tax $) FP Corp Customers (max $ income) Society/community (min $) Companies have to share the shareholder $ with the environment Proposed ‘triple bottom line’ view Shareholder (balanced $) Natural environment (balanced $) Employees (min $) Government (min tax $) ↑ Suppliers (min $) Other investments (min tax $) FP Corp Customers (max $ income) Society/community (balanced $) Companies have to contribute back to the society they are part of. The stakeholder concept - Multistream OED Stakeholder: “having a material concern in the welfare of something” Shareholder (balanced $) Natural environment (balanced $) Employees (balanced $) Government (balanced $) ↑ Suppliers (balanced $) Other investments (balanced $) FP Corp Customers (balanced $) Society/community (balanced $) Yes, you want to make money, but you shouldn’t have to treat your employees or customers poorly and you shouldn’t use poor supplies Examining the model – what is wrong with this picture of goals? Shareholder
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