OTD - Chapter 2 Stakeholders, managers and ethics

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Stakeholders, Managers and Ethics

Solving agency problem

* Promotion tournaments and career paths

* Stock-Based Compensation schemes

using governance mechanisms

Agency problem

Moral hazard problem

information disadvantage

determing managerial accountability which arises when delegatingauthority to managers

Shareholders (Inside stakeholder)

Models

Justice model

Moral rights model

Utilitarian model

Stocks-based compensation schemes

rewards

Satisfying stakeholders

interests

goals

competing

Organisations

Functional mngrs

provide collectively the core compentences

responsible for developing the func. skills

Divisional mngrs

Managers who set policy only for the division

Corporate mngrs

members of mgmt teams to set strategy

Top mgmt team

Helps the CEO set the company's stragety

A group of mngrs who report to the ceo+coo

Staff role

charge of specific org. function

Line role

direct responsibility

Hierarchy

Chain of command

Governance mechanisms

forms of control which align the interests + principles of company

Stakeholders

Outside

Comunity

Unions

Government

Suppliers

Customers

Inside

Workforce

Managers

Shareholders

Contribute to org

Contribute Inducement

superior to stakeholders

Inducements / Rewards

org. status

power

money

Contributions

Subtopic

expertise

skills

Unethical

Outside pressure

Self-Interest

Personal

Ethics

Individual

Societal

professional

Ethical

dilemma