Principles of Management Chapter 5 & 6

Corporate Social Responsibility
The notion that corporations have an obligation to constituent groups in society other than stockholders and beyond that prescribed by law or union contract.
Socioeconomic model
A business is just one subsystem among many in a highly interdependent society
Classical model
Attaining short-run profits by providing society with needed goods and services
Deny or ignore responsibilities
Use legal maneuvering &/or public relations campaign to avoid assuming additional responsibility. (Put up a fight)
Pressure to assume additional responsibility. (Accept social responsibility in response to pressure)
Aggressively taking the initiative.
Enlightened Self-Interest
Realization that business ultimately helps itself by helping to solve societal problems.
State Uncertainty
Environment, Unpredictable
Effect Uncertainty
Impact unpredictable
Response Uncertainty
Consequence unpredictable
Management by Objectives
A management system based on measurable and participatively set objectives
Setting Objectives
Emphasize participation & involvement of people
Developing Action Plans
Complement one another
Periodic Review
Monitoring performance
Performance Appraisal
Emphasize results not personalities or excuses
Role of Objectives
Complete task on time
Well Written
What is going to be accomplished and when its going to be accomplished?
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