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Responsibilities of Business Discretionary Ethical LegalEconomic Social Responsibilities SOURCE: Suggested by Archie Carroll in A. B. Carroll, “A Three Dimensional Conceptual Model of Corpo- rate Performance,” Academy of Management Review (October 1979), pp. 497–505; A. B. Carroll, “Managing -Ethically with Global Stakeholders: A Present and Future Challenge,” Academy of Management Executive (May 2004), pp. 114–120; […]

Explain how globalization, innovation, and environmental sustainability influence strategic management Carroll lists these four responsibilities in order of priority. A business firm must first make a profit to satisfy its economic responsibilities. To continue in existence, the firm must follow the laws, thus fulfilling its legal responsibilities. There is evidence that com- panies found guilty

Discuss the Activities where learning organizations excel SOURCE: T. L. Wheelen and J. D. Hunger, “Board of Directors’ Continuum,” Copyright © 1994 by Wheelen and Hunger Associates. Reprinted by permission. M02_WHEE2050_15_SE_C02.indd 46 9/9/16 12:16 PM CHAPTER 3 Social Responsibility and Ethics in Strategic Management 73 a business corporation need profits to survive and grow. “Maximizing profits

DEGREE OF INVOLVEMENT IN STRATEGIC MANAGEMENT Low (Passive) Rubber StampPhantom Never knows what to do, if anything; no degree of involvement. Formally reviews selected issues that o�cers bring to its attention. Involved to a limited degree in the perfor- mance or review of selected key decisions, indicators, or programs of management. Approves, questions, and makes

Discuss the differences between the theo- ries of organizations Generally, the smaller the corporation, the less active is its board of directors in strategic management.13 In an entrepreneurial venture, for example, the privately held corporation may be 100% owned by the founders—who also manage the company. In this case, there is no need for an

Introduction to Strategic Management and Business Policy Highly involved boards tend to be very active. They take their tasks of moni- toring, evaluating and influencing, and initiating and determining very seriously; they provide advice when necessary and keep management alert. As depicted in Figure 2–1, their heavy involvement in the strategic management process places them

 Discuss the benefits of strategic management 1-2. Explain how globalization, innovation, and environmental sustainability influence strategic management 1-3. Discuss the differences between the theo- ries of organizations 1-4. Discuss the Activities where learning orga- nizations excel Learning Objectives After reading this chapter, you should be able to: Toyota Motors Co. In 1937, Kiichiro Toyoda founded

HOW THIS BOOk IS DIFFERENT FROM OTHER STRATEGY TExTBOOkS This book contains a Strategic Management Model that runs through the first 12 chap- ters and is made operational through the Strategic Audit, a complete case analysis methodology. The Strategic Audit provides a professional framework for case analysis in terms of external and internal factors and

INDUSTRY SEVEN: MANUFACTURING CASE 3 2 General Electric, GE Capital, and the Financial Crisis of 2008: The Best of the Worst in the Financial Sector? 32-1 (Contributor: Alan N. Hoffman) The financial services industry was, by definition, volatile, and GE Capital was particularly hard hit by the economic recession of 2008. With the credit markets