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CONTEMPORARY ISSUES IN

MANAGEMENT

PAPER CODE: BS 701

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THE ENVIRONMENT OF

MANAGEMENT

UNIT ONE

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ETHICS

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PHILOSOPHY

From the Greek word philosophia: love of

wisdom

Understand the mysteries of existence andreality

Nature of truth and knowledge

Form of inquiry:

analysis, criticism,interpretation and speculation

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PHILOSOPHY

MARRIAGE

RELIGION

LAW

FAMILY

INDUSTRY

GOVERNMENT

EDUCATION

BUSINESS

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THE FIVE BRANCHES OFPHILOSOPHY

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1. METAPHYSICS

TWO SEPARATE AREAS

A. ONTOLOGY: The study of being

B. COSMOLOGY: Study of the physical universe

or cosmos as a whole

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1. METAPHYSICSTHEORIES

1. MATERIALISM: Only matter has real

existence; mental phenomena are produced

by the activity of matter

2. IDEALISM: Every material thing is and idea or

a form of idea

3. MECHANISM: All happenings result from

mechanical forces, not from purpose

4. TELEOLOGY: Everything is the universe exists

for a purpose

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2. EPISTEMOLOGY

Studies the Nature, Basis and Extent of Knowledge

KNOWLEDGE TYPES

1. A priori: Knowledge by thinking withoutexperience

2. Empirical: Knowledge from observation andexperience

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2. EPISTEMOLOGY

THEORIES1. CORRESPONDENCE: An idea is true if it

corresponds to the facts or reality

2. COHERENT: Truth is a matter of degree; an

idea is true to the extent it coheres withother ideas

3. PRAGMATIC: An idea is true if it works or

settles the problem dealt with4. SKEPTICISM: Knowledge is impossible to

obtain; truth is unknowable

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3. LOGIC

Principles and Methods of Reasoning

Argument: A set of statements calledpremises

with a statement called a conclusion which is

supported

TYPES

1. DEDUCTIVE: Where the conclusion necessary

follows its premise (valid)

2. INDUCTIVE: Establish matters of fact and laws of

nature and does attempt to be valid

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4. AESTHETICS

Creation and Principles of Art and Beauty

Examination of thoughts, feelings and attitude

when exposed to something beautiful Process of artistic creation

Nature of aesthetic experience

Closely related to Ethics and Political philosophy

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5. ETHICS

Deals with

Human conduct, character and values

Nature of right and wrong

Distinction between good and evil

Nature of justice and a just society

Obligations

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5. ETHICS

THEORIES

1. RELATIVISM: Right or wrong depends on the

concerned culture2. OBJECTIVISM: Objective standards of right

and wrong can be discovered and applied to

everyone

3. SUBJECTIVISM: Moral standards are matters

of taste and opinion

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ETHICS & MORALITY

ETHICS: Systematic general science of right and

wrong conduct

MORALITY:

Actual patterns of conduct anddirect working rules of moral action

Needed because of the human tendency to

Compare Doubt

Develop principles

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FROM: Family

Friends

School Church / Temple / Mosque

Media

Other associations

MORALITY

The standards an individual or group has

about what is right or wrong

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ETHICS & MORALITY

THEORIES OF MORALITY

1. INTUITIONISM: Aware of moral principles

and understand them intuitively

2. EMOTIVISM: Moral standards express desiresand emotion but convey no justification

3. NATURALISM: All moral decisions must be

based on factual considerations4. PERSONAL REALISM: Individual and social life

must be infused with moral openness to God

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MORAL & NON-MORAL STANDARDS

Moral standards

Address matters of serious consequence to

human beings

Can neither be legislated not changed byauthoritative bodies

Override self interest

Are never situational

Trigger strong emotions

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ETHICS

Study of Ethics is a normative study

Study of Ethics through the social sciences is

a descriptive studySOCIOLOGIST:

Do Indians believe bribery is wrong?

ETHICIAN:Is bribery wrong?

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BUSINESS ETHICS

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BUSINESS ETHICS

Society achieves its goals through institutions:

Familial

Economic

Legal

Political

Educational

Business Ethics is the study of the application of

moral standards to business

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BUSINESS ETHICS

Three issues investigated:1. SYSTEMIC

2. CORPORATE

3. INDIVIDUAL

THE DILEMMA

Law treats the corporation as an entity

The corporation exists and acts through

humans and their mutual relationships

It is the humans who act

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The MNC & Ethics

It can shift from countries to avoid social

control

It can transfer material, goods, capital toescape taxes

Transfer of technology could be hazardous

to the host country

Ethical norms differ between countries

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ETHICS HAS NO PLACE IN BUSINESS

1. If needs are not satisfied efficiently noprofits.

Most markets are not perfectcompetition

Steps for profit increase may not be

socially beneficial Social hierarchies have different needs

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ETHICS HAS NO PLACE IN BUSINESS

1. Loyal agent argument

Employers demand may not be moral

Managers duty is constrained by morality

Mere employment agreements may not be

moral

2. Being legally correct is not enough ethically.

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NO BUSINESS WITHOUT ETHICS

1. Ethics should govern all human activities,which is what business is

2. Cooperative activities need a minimumethical standard

Individual businesses will collapse

Businesses need a stable society Ethics and profits are not mutually

exclusive goals

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ETHICS & THE LAW

A legal decision may not be ethical

The individual applies personal standards Generation gap in its application

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TECHNOLOGY & ETHICS

RISK: Awareness, Degree, and Reversibility

PRIVACY

DANGERS OF GENETIC ENGINEERING

Methods, processes and tools invented to

manipulate the environment

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PROFESSIONAL ETHICS

Code which regulates action and sets

standards for its members

Serves to guide and remind people of them Providers for code violators

Public law may regulate in some cases

Code for any group which has an impact onthe community

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IMPLEMENTING ETHICS

Enunciate a Policy

Create a CodeMeasure both steps on the basis of their

impacton and approvalby all employees

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IMPLEMENTING ETHICS

DECISION MAKING WHILE IMPLEMENTING Made to avoid punishment

Made to uphold others expectations

Made to comply with moral conscience

No thumb rule for ethical decisions; culturalcentric in an organization

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ETHICS IN MANAGING CHANGE

CHANGE NEEDS

Decentralization

Globalization

Corruption / Misconduct expands with this

CODE COMPLIANCE MONITORED IN TWO WAYS

1. Top Managers investigate ethical violation

2. Subordinate review made mandatory

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FOSTERING ETHICS AT WORK

1. Emphasize top management commitment

2. Publish the Code3. Establish compliance mechanisms

4. Involve all employees

5. Measure results

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CORPORATE

SOCIAL

RESPONSIBILITY

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THE C S R MODEL

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MANAGERIAL CAPITALISM

Primary purpose is to maximize profits for

shareholders

Vigorously promoted by Milton FriedmanTWO REASONS

1. Shareholders are owners; profits belong to

them alone

2. Shareholders deserve profits because taxes,

salaries etc. have been paid

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STAKEHOLDER THEORY

Any group which is vital to the survival and

success of the corporation

There are six groups The corporation should be managed for the

benefit of all six groups

The rights of the groups must be ensured

The groups must participate in decisions

affecting their welfare

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MAJOR STAKEHOLDERS

THE BUSINESS

STOCKHOLDERS

CUSTOMERS

SUPPLIERS

MANAGERS

COMMUNITY

EMPLOYEES

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THE MORAL MINIMUM

Occupies an intermediate position The corporation must maximize profits but

should do no harm along the way

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THE SOCIAL AUDIT

Self monitoring

A rating system is developed Important variables are

Firm culture

Country culture Country laws

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WHISTLE BLOWING

Employees attempting to report

organizational wrong doing

Where moral minimum applies the whistle

blower can help the firm

Least expensive and most efficient feedback

Very often regarded as disloyal

Firm culture can encourage or discourage

them

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MANAGING DIVERSITYEmployees in a multi cultural environment

Maximizing advantages;

minimizing disadvantages

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DIVERSITY GROUPS

1. Racial and Ethnic

2. Women

3. Older Workers

4. People with disabilities

5. Sexual orientation

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BARRIERS IN DEALING WITH DIVERSITY

1. STEREOTYPING

Ascribing behavioral traits to individuals

based on apparent membership of a group2. PREJUDICES

Bias resulting from pre-judging a person

based on traits

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BARRIERS IN DEALING WITH DIVERSITY

3. ETHNOCENTRISM

Viewing members of ones own group as the

center of the universe and other social

groups with less favor

4. DISCRIMINATION

Taking specific action toward or against a

person based on the persons group

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BARRIERS IN DEALING WITH DIVERSITY

5. TOKENISM

Tendency to appoint a minority group

member to a high profile position

6. GENDER ROLES

Glass ceiling

Sexual harassment

Gender role stereotyping

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DIVERSITY MANAGEMENT PROGRAM

LEADERSHIP

Top Mgt commitmentand support

Steering group

Advisory groupCommunication tactics

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DIVERSITY MANAGEMENT PROGRAM

RESEARCH /

MEASUREMENT

Organizational

assessment

Baseline dataBenchmarking

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DIVERSITY MANAGEMENT PROGRAM

EDUCATION

Awareness trainingIn-house expertise

development

Orientation programsAdvanced training

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DIVERSITY MANAGEMENT PROGRAM

SYSTEMS CHANGES

RecruitmentOrientation

Performance appraisal

Compensation/benefits

Promotion

Trg & Dev

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DIVERSITY MANAGEMENT PROGRAM

FOLLOW UP

Evaluation process

Accountability

Continuous

improvement

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MANAGING IN A GLOBAL

ENVIRONMENT

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WHAT IS GLOBALIZATION?

Integration of economic, political, and culturalsystems across the globe?

Americanization of world culture?

Force for economic growth, prosperity, anddemocratic freedom?

Force for environmental devastation,

exploitation of the developing world, andsuppression of human rights?

Is globalization "good" or "bad"?

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WHAT IS GLOBALIZATION?

These questions would receive very different

answers in Washington, Sao Paolo, Paris,

Cairo, Johannesburg, Bombay, and Hong Kong

In each of those places these questions would

receive very different answers from different

people business leaders, government

officials, agricultural laborers, theunemployed, or human rights activists.

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WHAT IS GLOBALIZATION?

The impact of globalization on culture:

Should local cultures should be protected

from outside influence? or Does new cultural creativity result from

interaction and mixing of ideas from different

cultures?

THERE ARE FEW CULTURES THAT ARE TRULY ISOLATED

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DESCRIPTION Globalization refers to integration of national

economies into the international economythrough

Trade

Foreign direct investment

Capital flows

Migration

Spread of technology

Combination of economic, technological,

sociocultural and political forces

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HISTORY

A centuries long process, tracking the expansion ofhuman population and the growth of civilization,that has accelerated dramatically in the past 50years

The 19th

C sometimes called "The First Era ofGlobalization" collapsed during the GreatDepression

Some analysts say the world is going through a

period of de-globalization 45% of global wealth was destroyed by the global

financial crisis in 18 months

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FREE TRADE PROMOTION Reduction, elimination of tariffs; creation of

free trade zones with small or no tariffs Reduced transportation costs from

containerization

Reduction, elimination of capital controls Reduction, elimination of subsidies for local

businesses

Creation of subsidies for global corporations

Harmonization of intellectual property laws

Supranational recognition of intellectualproperty restrictions

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GLOBALIZATION FLOWS

GOODS AND SERVICES e.g

.exports plus importsas a proportion of national income or per capita

of population

LABOR/PEOPLE e.g. net migration rates; inward

or outward migration flows CAPITAL e.g. inward or outward direct

investment as a proportion of national income

TECHNOLOGY e.g

.international research &development flows; proportion of population

using factor-neutral inventions such as thetelephone, motorcar, broadband

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MEASURING GLOBALIZATION

1. Economic

2. Social

3. Political

4.

Actual economic flows5. Economic restrictions

6. Data on

personal contact information flows

cultural proximity

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MOST GLOBALIZED

1. Belgium

2. Austria

3. Sweden

4. United Kingdom

5. Netherlands

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LEAST GLOBALIZED

1. Haiti

2. Myanmar

3. The Central African Republic

4. Burundi

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IMPACT ON THE GLOBE

1. INDUSTRIAL

Emergence of worldwide production markets

Broader access to a range of foreign products

Movement of material and goods between

and within national boundaries

IMPACT ON THE GLOBE

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IMPACT ON THE GLOBE

2. FINANCIAL

Emergence of worldwide financial markets

Access to external financing for borrowers.

Worldwide structures grew faster than any

transnational regulatory regime

Instability of the financial infrastructure

dramatically increased globally

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IMPACT ON THE GLOBE

3. ECONOMIC

Realization of a global common market

Freedom of exchange of goods and capital

The interconnectedness of these markets,

however meant that an economic collapse in

any one given country could not be contained

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IMPACT ON THE GLOBE

4. POLITICAL

Some use globalization to mean the creation of

a world government, or cartels of governments

If China continues to grow at the rate projected

by the trends, in the next fifteen years, there will

be a major reallocation of power

IMPACT ON THE GLOBE

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IMPACT ON THE GLOBE

5. INFORMATIONAL

Increase in information flows betweengeographically remote locations

A technological change

Fiber optic communications

Satellites

Increased availability of telephone

Internet

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IMPACT ON THE GLOBE

6. LANGUAGE

Most popular language is English

90% of all Internet traffic uses English 75% of the world's mail, telexes, and

cables are in English

60% of the world's radio programs are inEnglish

IMPACT ON THE GLOBE

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IMPACT ON THE GLOBE

7. COMPETITION

Survival calls for improved productivity

Companies have to upgrade their

products

Use technology skillfully

IMPACT ON THE GLOBE

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IMPACT ON THE GLOBE

8. ECOLOGICAL - challenges that might be solved

Climate change Cross-boundary water and air pollution

Over-fishing of the ocean

IMPACT ON THE GLOBE

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IMPACT ON THE GLOBE

9. SOCIAL

Development of NGOs as agents ofglobal public policy

Humanitarian aid

Developmental efforts

IMPACT ON THE GLOBE

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IMPACT ON THE GLOBE

10.LEGAL / ETHICAL

The creation of an international criminal

court International justice movements

Crime importation

Raising awareness of global crime-fightingefforts and cooperation

CRITICISM

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CRITICISM

1. Poorer countries are sometimes at

disadvantage

2. Exploitation of foreign impoverished workers

3. The shift to outsourcing

4. Weak labor unions

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THREE ISSUES OF GLOBALIZATION

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INDIVIDUAL Vs SOCIETAL CHOICE

Some people may prefer to smoke or to drive

without wearing a seatbelt.

Society may believe that there are costs as a

whole say, medical costs

France objects to the spread of American

popular culture

Globalization has to balance betweenrespecting individual free choices and societal

priorities

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FREE MARKET Vs GOVT. INTERVENTION

The free market is the aggregation of lots ofindividual choices

The free market may fail to provide crucial

goods, at reasonable prices

In 2001 WTO allowed poor countries in Africa

to make generic copies of drugs needed for

AIDS

Globalization has to balance the need for free

market system while also ensuring that the

poor are taken care of.

LOCAL AUTHORITY V SUPRA LOCAL

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LOCAL AUTHORITY Vs SUPRA LOCAL

Issues arise between the democratic

legitimacy of domestic legislation and the

need to create and enforce international rulesby bodies who are not directly accountable to

those whose lives and interests they affect

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THE INTERNATIONAL CONSUMER

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INTRODUCTION

No matter how hard man tries, it is impossible

for him to divest himself of his own culture,

for it has penetrated to the roots of his

nervous system and determines how heperceives the worldPeople cannot act or

interact at all in any meaningful way except

through the medium of culture.

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CROSS-CULTURAL USE OF SYMBOLS

Meaning of symbols differs across cultures

Symbolic meaning of nonverbal

communication can also create problems.

It is important to know the implicit meaning of

a symbol when a company begins to market its

products or services internationally

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GLOBAL BUSINESS CULTURAL FACTORS

Language

Values

Politics

Technology

Material Culture

Social Organization

Education

Religion

THE EAST ASIAN CONSUMER

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THE EAST ASIAN CONSUMER

yHow the societies view

the individual

yHow employees and

customers are viewed

yValues in Japan are

beginning to change with

an increased desire for

leisure timeyKaroshi (death by

overwork) still an issue

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THE LATIN AMERICAN CONSUMER

NAFTA has increased

U.S.-Mexico trade

U.S. products viewedfavorably

Spanish language

variations possiblyimportant

THE EAST EUROPEAN CONSUMER

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THE EAST EUROPEAN CONSUMER Western products are in huge demand

Income is lower than Western Europe

Productivity is rising after the 1990s political

turmoil

Marketing requires an understanding of the

different cultures and business practices

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THE WEST EUROPEAN CONSUMER

The EU contains

many nations,

cultures, and

languages

There is no

Euro consumer

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THE AFRICAN CONSUMER

Country changing rapidly

Africans are often bilingual

The culture and business climate is stronglyinfluenced by Europe

Francophone countries liking French products

Anglophone countries give high marks to

British and German goods American products are highly regarded but

only the well-to-do can afford them

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CROSS-CULTURAL PROBLEM AREAS

Translation

National Languages

and Dialects

Time perception

Symbols

Friendship Etiquette

Nonverbal Behavior

Country-of-Origin

Issues Ethnocentricity

Animosity

Bi-nationalproducts

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ADAPTING PRODUCTS AND SERVICES

Adapting products to the needs of local

consumers is closer to the marketing

concept.

Standardizing products may result in

consumer savings

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STANDARDIZATION Vs ADAPTATION?

Both offer customer benefits.

As incomes increase, people in different

countries seem to develop more-similartastes

Especially true for younger consumers

The final decision is a managementresponsibility

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INTERNATIONAL MARKETING RESEARCH

Marketing research across cultures a must

Main problem is to standardizeconsumption values measures.

Technical problems (e.g. the ability to do

mail surveys) are also important

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COUNTRY VS. SEGMENT TARGETS

Two Approaches to Global

Segmentation: Countries

Market Segments

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COUNTRY VS. MARKET TARGETS

In the first approach, Brazil is viewed as atarget market segment

In the second approach, although Brazil is thephysical location of a large group ofconsumers, the important variables forsegmentation are commonalities in needs and

wants among consumers across nationalities

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MANAGERIAL IMPLICATIONS

yPositioning. The origin of the product shouldbe clear to differentiate

yThe Internet has made international marketing

research easier, but it has introduced twoissues:

1. Penetration of the Internet varies fromcountry to country

2. Marketers using the Internet restrictthemselves to those with internet access!

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MANAGERIAL IMPLICATIONS

Marketing Mix

Men in Eastern Europe are more fashionablethan women since they are more exposed to

outside influencesSegmentation

Are national borders useful segmentationvariables?

Concentrating on cross-border segments thatshare commonalities may make more sense.

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FINALLY

These controversies are rarely black and white

Discussion of these issues can enlighten

citizens of different countries without forcing

them to abandon their

Globalization is neither good nor bad