ADM 1100 Chapter Notes - Chapter 10: Groupthink
9 Jun 2016
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Document Summary
The behaviour of the individual is influenced by social groups of which that individual is a member. Social groups ranging from work place groups to society. Society as a source of values: social norms and social responsibility: Customers, employees, financiers, suppliers, communities, society at large and shareholders. To maximize the return to shareholders would take away return owed to other stakeholders. Social responsibility perspective- forms have responsibilities and obligations to society as a whole, not just shareholders. How to reconcile conflicting and competing concerns across stakeholders. Social responsibility is more complex in order to manage an organization while meeting social standards/norms. The organizations need to be paying close and constant attention to ethical and social issues that are prominent in society. Society as a source of values: laws and industry regulation: Long term profit emphasis: accommodator (we will change only when legally compelled to do so) Anticipator- (anticipate potentially harmful actions even if not pressured or legally required)
