Chapter 1: Innovation for Turbulent Times Four management functions: Planning- select goals and ways to attain them

Organizing- assign responsibility for task accomplishment Leading- use influence to motivate employees Controlling- monitor activities and make corrections Difference between: Effectiveness- is the degree to which the organization achieves a stated goal or succeeds in accomplishing what it tries to do. Means providing a product or service that customers value. Efficiency- the amount of resources used to achieve an organizational goal. It is based on how much money and how many raw materials and people are necessary for producing a given volume of output. The amount of resources used to produce a product or service. Chapter 4: Managerial Ethics and Corporate Social Responsibility Criteria for Ethical Decision Making: Utilitarian Approach-moral behavior produces the greatest good for the greatest number. Individualism Approach- acts are moral if they promote the individuals long-term interest. Moral-rights Approach-humans have fundamental rights and liberties that cannot be taken by an individual's decision. The right of free consent. The right to privacy. The right of freedom of conscience. The right of free speech. The right to due process. The right to life and safety. Justice Approach-moral decisions must be based on standards of equity, fairness and impartiality. Corporate social responsibility-the obligation of organization management to make decisions and take actions that will enhance the welfare and interests of society as well as the organization. Distinguishing right from wrong; doing right. Good corporate citizenship. Make choices that contribute to society and stakeholders. Stakeholders any group within or outside Stakeholders- any group within or outside the organization that has a stake in the organizations performance. Four different criteria or levels of corporate social responsibility: 1. Economic responsibility- be profitable 2. Legal responsibility-Obey the law 3. Ethical responsibility- be ethical do what is right; avoid harm 4. Discretionary responsibility- contribute to the community; be a good corporate citizen Desired components of an ethical organization Ethical leadership- providing strategy and being a role model for the organization to make legal and moral choices and to be a good citizen of the community, Code of Ethics-a formal statement of the companys values regarding ethics and social issues., Ethics Committee- a group of executives appointed to oversee company ethics, Chief Ethics Officer- a company executive who oversees all aspects of ethics and legal compliance, including establishing and broadly communicating standards, overseeing ethics training, dealing with exceptions or problems, and advising senior managers in the ethical and compliance aspects of decisions, Ethics Hotlines, Ethics Training-,programs also help employees deal with ethical questions and translate the values states in a code of ethics into everyday behavior, Support for Whistle-Blowers-employee disclosure of illegal, immoral, or illegitimate practices Chapter 11: Leadership Management vs. Leadership: Emphasis and required skills Good management is essential to organizations But, good managers must be leaders Leadership cannot replace management, there should be a balance of both Management: promotes stability, order, and problem solving. Mind- rational, consulting, persistent, problem solving, tough-minded, analytical, structured, deliberate, authoritative, stabilizing and position power. Leadership: motivates toward changing challenges. Soul- visionary, passionate, creative, flexible, inspiring, innovative, courageous, imaginative, experimental, initiates change and personal power. Traits: intelligence, honesty, self-confidence, appearance Power and Influence Position power- Legitimate power, Reward power, Coercive power Personal Power- Expert power, Referent power Other Sources of Power- Personal effort, Network of relationships, Information