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Administrative Studies Notes.docx

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Department
Administrative Studies
Course
ADMS 1000
Professor
Indira Somwaru
Semester
Fall

Description
Administrative Studies Notes Week 1 Internal Factors 1. People 2. Structure (Example. Family business) 3. Strategy (When you think about strategy, think about what makes the company  unique) (Example. Canadian Business) External Factors 1. Technological 2. Competitive 3. Societal 4. Economical 5. Political (Example. Copyright Enforcement) 6. Global (Example. NAFTA) • As long as you have a good argument, it doesn’t matter what’s factor matters  more than the other if asked in a question. • Most family businesses don’t make it past the second generation due to their kids  running it Week 2 Read Chapter 2  Case Study: Sam The Record Man (Website) Factors of Production • Labour • Capital • Entrepreneur • Natural Resources • Information Resources Types of Economic Economies • Command/Centrally –Planned Economies o Communism – Government control the factors of production o Socialism • Market Economies o Capitalism – Privately­controlled factors of production  • Mixed Market Economies o Canada  Types of Competition  • Perfect Competition o Undifferentiated products o Infinite buyers and sellers o Perfect information o No entry/exit barriers o No market power • Monopolistic Competition o Products are close but not but imperfect substitutes o Many firms o Some market power to set prices o Example. Restaurant’s • Oligopoly o Small number of firms o High entry firms o Firms are price setters o Example. Aircrafts • Monopoly o Only one producer o High market power to set prices­ maximum profits o Absolute product differentiation o Absolute barriers to entry  o Example. Microsoft or LCBO Economic Indicators • The Business Cycle • Aggregate Output: GDP • Productivity • Balance of Trade and National Debt • Inflation, Deflation, Unemployment Week 3 Read Chapter 8 (Page 174­187) Case Study: Malden Mills (Website)  1. Explain whyAaron Feuerstein’s decision reflects issues of corporate social responsibility. a. Define CSR first to answer the question.  Has to do with whether or not  corporation has responsibilities to these workers.  He can do what ever he  wants because it’s his company.  It’s an issue of whether or not he has a  moral or ethical obligation for not harming the people.  (Keep the factory  going so workers can work to earn a living according to CSR because he is  basically obligated to do the right thing) 2.  What are the arguments for and against Feuerstein behaving in a socially   responsible way? a. Arguments for and against CSR (The Chart on PowerPoint).  Just explain  what you are arguing for both sides. 3.  What do you think he should do?  a. I think he should keep the factor going because he made a lot of profit off  of it.  He would be helping the employees keep their income so that they  wouldn’t be on the streets.  It would give him a good reputation. The Corporate Form  • An “artificial being” that can engage in all form of business activities (Canadian  Corporation Act) • It is a separate legal instance that can be sued, hold property, and incur debt  • Advantages  o Access to capital o Infinite life o Limited liability • Disadvantages o Double taxation o Costs and disclosure o Principle/Agents Problem – Governance!   The agent sometime does not act in your liking  They want to sell the house fast as possible to they get their  commission and move onto the next house  •  Corporate Governance   o It’s a system of governance of who does what (Shareholders, Boards,  Mangers, Stockholders) o And how then we resolve this problem of agency  o It also provides the structure through which the company objectives are  set, and the means of attaining those objectives and monitoring  performance.  •  Why do we need Governance   o Companies became too large and shareholders too 
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