Principles of Management
OER 2019 Edition
ISBN: 9780998625768
Author: OpenStax
Publisher: OpenStax College
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Textbook Question
Chapter 5.5, Problem 1CC
In what ways do law and compliance complement ethics in organizations?
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d. Reflect on the impact of infrastructure on entrepreneurial ventures like Savannah Organics.
What improvements could help reduce barriers?
(3 marks)
e. How important was Thato's ability to innovate and adapt in overcoming environmental
challenges? Provide examples from the case to support your answer.
(3 marks)
accreditation. Thato had to work with international bodies, adding complexity and expense to her
operations.
Despite these challenges, Thato capitalized on the strengths of the entrepreneurial environment.
She formed partnerships with local agricultural cooperatives and NGOs, enabling her to access
shared resources, knowledge, and training programs. She also collaborated with the government
to participate in a public-private initiative promoting sustainable farming, which provided her with
a modest grant.
Thato leveraged digital platforms to connect directly with customers, eliminating intermediaries
and offering competitive pricing. Her ability to innovate and adapt proved critical in sustaining her
business, even during economic disruptions caused by the COVID-19 pandemic. By the end of
2023, Savannah Organics had expanded its operations to 15 hectares, supplying produce to
supermarkets across the country and partnering with health-focused restaurants.
Thato's journey highlights both…
A sharing economy can be described as an economic model in which goods and resources are
shared by individuals and groups in a collaborative way such that physical assets become services.
The sharing economy enables people and organisations to earn profits from underutilised
resources. Discuss using relevant example and referencing the impact of sharing economy.
(20 marks)
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...
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