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Chapter 3,8,10-12

MGMT 1000 Chapter Notes - Chapter 3,8,10-12: Corporate Social Responsibility, Liquid Oxygen, Water Pollution


Department
Management
Course Code
MGMT 1000
Professor
Kathleen Rodenburg
Chapter
3,8,10-12

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MGMT 1000 EXAM STUDY GUIDE
Chapter 3, LO1:
Ethics: Individual standards or moral values regarding what is right/wrong
Business Ethics: ethical/unethical behaviours by employee or organization
Managerial Ethics: Standards of behaviour that guide individual managers in their
work
Conflict of Interest: Occurs when an activity benefits the employee
at the
expense of the employer
Assessing Ethical Behaviour:
a. Gather the relevant factual information
b. Determine the most appropriate moral values
Utility
Rights
Justice
Caring
c. Make ethical judgement based on right/wrong of proposed activity
How to Have Ethics:
a. Demonstrate it (by top managers i.e monkey see monkey do)
b. Adopt written codes of ethics
c. Provide ethics training
Chapter 3, LO2:
CSR (Corporate Social Responsibility): business should balance its commitments
to groups that are directly affected by organizations activities
Fair-Trade Movement: A movement designed to help workers in developing
countries receive fair payments for their work
Chapter 3, LO3:
Organizational Stakeholders: Groups, individuals and organizations that are
directly affected by the practices of an organization and that therefore have a
stake in its performance
Consumerism: A social movement that seeks to protect and expand the rights of
consumers in their dealings with business.
Responsibility towards consumers:
a. Consumer Rights:
Right to safe products
Right to be informed of all relevant aspects of product
Right to be heard (complaints)
Right to choose what to buy (no blocking competition)
Right to be educated about purchases (labels)
Right to continuous service

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b. Unfair Pricing
c. Ethics in Advertising:
Truth in advertising
Advertising fake brands
Stealth advertising (you gotta get this - paid random)
Morally objective advertising
Responsibility towards employees:
a. Whistleblowers: An individual who calls attention to an unethical or illegal
practice related to the organization
Responsibility towards investors:
a. Improper financial management
b. Misrepresentation of finances
c. Cheque Kiting (switching $ between accounts to quickly withdraw money)
d. Insider trading
Responsibility towards Suppliers:
a. Keep them informed
Responsibility toward Communities:
a. Corporate charitable donations
Responsibility towards Environment:
a. Air pollution
b. Water pollution
c. Land pollution
Chapter 8, LO1:
HRM (Human Resource Management): Set of organizational activities directed at
attacking, developing and maintaining an effective workforce
a. Job description (duties)
b. Job specification (skills)
Employee Information Systems: Computed data that contains each employee's
education, skills, previous jobs and career goals.
HR Supply and Demand
a. Forecasting internal supply: # of future employees
b. Forecasting external supply: # of people available for hire in future
Skills Inventories: Identify who will occupy future positions (essentially planning
promotions)
Chapter 8, LO2:
Recruiting: The phase in the staffing of a company in which the firm seeks to
develop a pool of interested, qualified applicants for a position.
Internal Recruiting: Considering current employees for job openings
External Recruiting: Attracting people outside the organization

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Selecting Human Resources (validation)
a. Application forms
b. Tests
c. Interviews
d. Drug tests
e. Reference checks
Assessment Centre: a series of exercises in which management candidates
perform realistic management tasks while being observed by appraisers
Behaviour-Based Interviewing: An approach to improving interview validity by
asking questions that focuses the interview much more on behaviour than on
what a person says
Chapter 8, LO3:
Orientation: the process of integrating a new employee to policies/programs,
coworkers and supervisors
On the job Training: development programs integrated into work
Off the job Training: development programs at new location away from work site
Management development programs: development programs in which managers
conceptual, analytical and problem solving skills enhanced
Networking: Informal interaction for the purpose of discussing problems,
opportunities and solutions
Mentoring: experienced teaching non experienced
Team building
Evaluating Employee Performance
a. Performance appraisals: formal eval of worker, helps determine their
effectiveness
b. Methods
Simple ranking
Forced distribution
Graphic rating
Critical incident (discussing how they work)
Chapter 8, LO4:
Compensation: What a firm offers its employees in return for their labour
Wages: rate per hour
Salary: Dollars paid at regular intervals, regardless of time put in
Piece-Rate Incentive Plan: pays employee a rate based on unit output
(commission)
Profit sharing plan: employee receives bonus depending on firms profits
Gainsharing Plans: bonus received if firms costs are reduced because of their
work
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