Principles of Management
OER 2019 Edition
ISBN: 9780998625768
Author: OpenStax
Publisher: OpenStax College
expand_more
expand_more
format_list_bulleted
Textbook Question
Chapter 5, Problem 8CTQ
How would a stakeholder approach, if taken by the company’s top leaders and board of directors, have possibly prevented the crisis?
Expert Solution & Answer
Trending nowThis is a popular solution!
Students have asked these similar questions
From your position as a business environment student, how the government can balance society and business in managing the crisis so that none of them benefit at the expense of others who have been affected?
(balance society and business)
Who should accept the risks?
It is! With ethical questions in business, you can weigh
different factors and consider:
How the decision might affect the common good of society at large and the
greatest moral virtues: prudence, temperance, courage, and justice.
How the decision might affect our stakeholders and profitability; whether
the decision is consistent with our company's values; and how the public
would react if they found out about our decision.
Chapter 5 Solutions
Principles of Management
Ch. 5.1 - What individual and organizational ethical issues...Ch. 5.1 - What are some signs of unethical activities you...Ch. 5.2 - What are terminal and instrumental values?Ch. 5.2 - What are ways organizations can employ values to...Ch. 5.3 - What are some ethical guidelines individuals and...Ch. 5.3 - Can being aware of the actual values you use to...Ch. 5.4 - How does Aaron Feuerstein exemplify servant...Ch. 5.4 - If Feuerstein had decided to use the insurance...Ch. 5.4 - What role does leadership play in how ethically...Ch. 5.4 - Explain what stewardship is and the role of...
Ch. 5.5 - In what ways do law and compliance complement...Ch. 5.5 - How does stakeholder management differ from...Ch. 5.6 - How do sustainable business practices benefit...Ch. 5.6 - Differentiate the roles compliance and CSR...Ch. 5.7 - What ways can and do some MNEs demonstrate social...Ch. 5.7 - What are some specific ethical business practices...Ch. 5.8 - What are some emerging national and global issues...Ch. 5 - What is the difference between ethics and business...Ch. 5 - What is normative ethics?Ch. 5 - Why are values an important element of ethics for...Ch. 5 - What are the differences between instrumental and...Ch. 5 - Can an individual be ethical without using ethical...Ch. 5 - Identify major classical ethical principles.Ch. 5 - Differentiate between the principle of rights and...Ch. 5 - Why is leadership important for ethical conduct in...Ch. 5 - Identify two types of ethical leaders and the...Ch. 5 - What is the difference between ethics and...Ch. 5 - What is CSR, and why is it important?Ch. 5 - What is stakeholder management?Ch. 5 - What is the difference between stakeholders and...Ch. 5 - What is different about ethics in a global or...Ch. 5 - What are some global issues that corporations must...Ch. 5 - Identify some contemporary ethical and compliance...Ch. 5 - What is a moral entrepreneur?Ch. 5 - Does ethics pay? Explain.Ch. 5 - After reading this chapter, what are major...Ch. 5 - What were the sources and causes the problems in...Ch. 5 - Who were some of the primary decision makers that...Ch. 5 - What were these individuals motives and...Ch. 5 - How were the illegal and fraudulent activities...Ch. 5 - Who was to blame?Ch. 5 - What unethical activities occurred before the...Ch. 5 - What would you have done, if anything, had you...Ch. 5 - How would a stakeholder approach, if taken by the...
Additional Business Textbook Solutions
Find more solutions based on key concepts
Create an Excel spreadsheet on your own that can make combination forecasts for Problem 18. Create a combinatio...
Operations Management: Processes and Supply Chains (12th Edition) (What's New in Operations Management)
4. JC Manufacturing purchase d inventory for $ 5,300 and al so paid a $260 freight bill. JC Manufacturing retur...
Horngren's Financial & Managerial Accounting, The Financial Chapters (Book & Access Card)
Quick ratio and current ratio (Learning Objective 7) 1520 min. Consider the following data: COMPANY A B C D Cas...
Financial Accounting, Student Value Edition (5th Edition)
Why a convertible security not be converted when the market price of stock raises above the conversion price an...
Gitman: Principl Manageri Finance_15 (15th Edition) (What's New in Finance)
E2-13 Identifying increases and decreases in accounts and normal balances
Learning Objective 2
Insert the mis...
Horngren's Accounting (12th Edition)
To what does the lifetime value of the customer refer, and how is it calculated?
MARKETING:REAL PEOPLE,REAL CHOICES
Knowledge Booster
Similar questions
- An investigative journalist from the BBC has claimed that a major clothing brand uses factories in Indonesia which pollute nearby rivers, damaging the health of local people who use the rivers for bathing and washing. The factories provide much-needed employment in the local area. Determine the different groups of stakeholders involved in this issue. As CEO of the clothing brand, how would you balance the interests of these different groups of stakeholders?arrow_forwardHow can a top management team lower the chances that key managers will pursue their own self-interests at the expense of stockholders? At the expense of the employees? At the expense of other key stakeholders?arrow_forwarddo you think the repeal of the Glass - Steagall act was prudent?arrow_forward
- How can one make sure that all stakeholders are given due consideration in making business decisions? Is there a practical way to ensure this?arrow_forwardWould you please give me two strengths, weaknesses, opportunities, and threats that you observe in a pizzeria like Domino's pizza?arrow_forwardwhat is the best way for companies to protect themselves? What do you think are some of the biggest challenges companies face?arrow_forward
- What is Corporate Governance? What is its primary objective? Why has there been a recent global emphasise on corporate governance?arrow_forwardWith the Alignment of organizational goals, Are the views of all stakeholders treated the same, or are some stakeholders more critical than others, and do the proposed policies align with the potential new crises?arrow_forward3. It is undeniable that fraud is rampant in the business economy, where everyone goes and transact with the internet. Share your sentiments about fraud that are occurring in the business economy during this pandemic. What could you advise to the people to avoid fraud? What are the preventive measures would you suggest to avoid Online Fraud?arrow_forward
- The Ford Pinto was designed, manufactured, sold and supported by the Ford Motor Company in the early 1970s, or about 50 years ago. Do today's stakeholders in Ford, that is, the owners, managers, leadership, and shareholders, bear any responsibility for the actions of the company then?arrow_forwardWhat are the ethical considerations that managers must take into account when making decisions that impact their organizations, employees, and stakeholders?arrow_forwardWith all the competitors in the beverage industry, I couldn’t imagine another soft drink company overruling Coca-Cola. what actions could existing companies take to erect barriers to entry to this industry for new potential competitors?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Foundations of Business (MindTap Course List)MarketingISBN:9781337386920Author:William M. Pride, Robert J. Hughes, Jack R. KapoorPublisher:Cengage Learning
Foundations of Business (MindTap Course List)
Marketing
ISBN:9781337386920
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning