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ADM1301 Supplementary Final.pdf

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Matthew Archibald

ADM1301B - The Social Context of Business September 8 2011 - Lecture 1 Lecture 1: Introduction to Business and Society Examples of Issues to be Addressed in this Course Societys expectations of business driven by a more informed, afuent and litigious society Technological advances facilitate misinformation and disinformation but also puts business in societys spotlight Who in society has the greatest inuence? Who has the right to dictate how business should operate? What exactly is ethical behaviour? What exactly is social responsibility? From Management to the Social Context of Business Management Social Context of Business What is the purpose of a business? Planning, organizing, leading, controlling To maximize the wealth of Forms of Business Ownership shareholders (by creating a Motivation sustainable competitive Communication, Conict, advantage) Negotiation Some realties concerning managing Organizational structure, culture and to make a prot change Ethics, Social Responsibility, Planning and strategy Diversity Marketing, etc. Ability to make a prot will be inuenced by Competition (domestic and global) Government Civil society Environmental, social concerns, etc. Signicance of Business in its Social Context Business affects, and is affected by the society in which it operates For managers to operate effectively, an understanding of business domestic macroenvironment is essential ADM1301B - The Social Context of Business Business Domestic Macroenvironment It is intuitive that business can affect, and be affected by other businesses But business can affect, also be affected by: Government Civil society Canadian Domestic Socioeconomy The Business Segment All forms of for prot business ownership Corporations Partnerships Proprietorships The Government Segment All levels of government: Federal Provincial Municipal Crown corporations ADM1301B - The Social Context of Business The Civil Society Segment Organized and unorganized social networks Communities Non-government organizations Charities Volunteers Philanthropic efforts Canadas Domestic Macroenviroment: The Business-Government- Society Nexus The Triangle depicts the three segments of the domestic macroenvironment -- Business (B), Government (G) and Civil Society (S) At the apex appears B,G and S in its purest form Pure reciprocity (civil society) Pure exchange (business) Pure coercion (government) All inner territory represents organizations embodying different mixes of the three -- a variety of socioeconomic AND governance relationships Rules or sorting mechanisms of coordination for each segment are based on different principles: Business: supply and demand forces Government: redistribution and coercion Civil society: cooperation, reciprocity and solidarity The boundaries between B, S, and G are not well-dened because they are not rigid frontiers but rather wavering and continually evolving zones of overlap, interaction and interdependency Drivers of Change in Canadas Social Context Population demographics (aging, more diverse and multicultural population with more complex issues) Continuing advances in information communication technologies Globalization ADM1301B - The Social Context of Business Aging Population: The Baby Boomers Born late 1940s through early 1960s Affects business: This group is the highest earners and the largest cohort and represents enormous demand so the products demanded are produced! Agingtherefore different products (from the minivan to the Mercedes) Who will replace this cohort in the workforce (also represents an enormous retiring cohort around the same time) Affects government: Can strongly inuence public policy direction and thrust because the group represents the largest single voting cohort Largest single voting cohort will also demand certain things of importance to an aging group: Tax breaks Pension management Personal services Can inuence who get elected Affects civil society: Can strongly inuence the agenda of civil society organizations Largest group of potential volunteers Largest group of charitable supporters Most are well connected and experienced Information and Communications Technology Affects business: Instant communication Increased expectations of stakeholders Greater visibility of business activities Greater competition New stakeholder paradigms Ownership of intellectual capital Affects government: Instant communications Increased expectations of stakeholders Greater visibility of government policy issues and greater public scrutiny on actions of government New stakeholder paradigms (collaboration)
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