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ADM1301 notes.pdf

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ADM1301BThe Social Context of BusinessSeptember 8 2011Lecture 1Lecture 1 Introduction to Business and SocietyExamples of Issues to be Addressed in this CourseSocietys expectations of business driven by a more informed afuent and litigious societyTechnological advances facilitate misinformation and disinformation but also puts business in societys spotlightWho in society has the greatest inuenceWho has the right to dictate how business should operateWhat exactly is ethical behaviourWhat exactly is social responsibilityFrom Management to the Social Context of BusinessSocial Context of BusinessManagementWhat is the purpose of a businessPlanning organizing leading To maximize the wealth of controllingshareholders by creating a Forms of Business Ownershipsustainable competitive MotivationadvantageCommunication Conict Some realties concerning managing Negotiationto make a protOrganizational structure culture and Ethics Social Responsibility changeDiversityPlanning and strategyAbility to make a prot will be Marketing etcinuenced byCompetition domestic and globalGovernmentCivil societyEnvironmental social concerns etcSignicance of Business in its Social ContextBusiness affects and is affected by the society in which it operatesFor managers to operate effectively an understanding of business domestic macroenvironment is essentialADM1301BThe Social Context of BusinessBusiness Domestic MacroenvironmentIt is intuitive that business can affect and be affected by other businessesBut business can affect also be affected byGovernmentCivil societyCanadian Domestic SocioeconomyThe Business SegmentAll forms of for prot business ownershipCorporationsPartnershipsProprietorshipsThe Government SegmentAll levels of governmentFederalProvincialMunicipalCrown corporations
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