DATE, TIME AND PLACE
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Transcript of DATE, TIME AND PLACE
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DATE, TIME AND PLACE
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Duties come with being Part of an
Organization
OBEDIENCE – Laws, Rules and CustomsDUE CARE – Participate and InquireLOYALTY – Opportunities and Conflicts
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Strictly Legal Perspective
Strictly Personal Perspective
Is It Legal? If “No,” Stop and Take Action
Is It Balanced?Compare Risks and Benefits
How Does It Make Me Feel?What is your Conscience telling You?
Are You doing the “Right Thing?”
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NATIONAL or CULTURAL
LAYERED
ORGANIZATIONAL
FUNCTION or TEAM
PERSONAL VALUES
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Financial: Self-dealing or Insider Trading
Professional: Outside Commitments infringe on Employer Resources
Personal: Family/Employee Conflicts, Nepotism, Fraternization
DEFINITION: Employee’s Personal Interests Interfere (“Conflict”) with Obligations to Employer
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STRUCTURE is HOW Firm does WHAT it’s decided
to do…
STRATEGY Drives
STRUCTURE
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FLATFew (No?) Layers between Management and Staff;
Horizontally-shaped
How do Organizations LOOK ?
HIERARCHICALPyramid-shaped; Strict Superior/ Subordinate relations;
Authority and Responsibility concentrated at top
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How to Solve the “Agency Problem?”
Governance and Management(Checks and Balances)
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MONITORING Performance Review
Reward or Punish
IMPLEMENTATION Execute Ratified
Decisions
RATIFICATION Choose Initiatives to be Implemented
Contrast with Textbook at p. 236-237
INITIATION Generate Proposals, Utilize Resources or Structure Contracts
GOVE
RNAN
CEM
ANAG
EMEN
T
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MONITORING STEP Explain Strategic, Tactical, Ethical
and Financial Successes and Failures
EVALUATE EVERYTHING… Operations (Easy) Strategic Objectives (Hard)
EQUALLY Reward and Punish
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Supply Chain ManagementMass Production (Batch)Lean Manufacturing: Toyota Production System (TPS)
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How to Balance Need, Availability and Cost?
The Inventory Problem
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The Inventory Problem
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LONG-RUN TOTAL AVERAGE COST CURVE
Fixed Costs
Variable Costs
Maximum Capacity
Cost Mix determined by Optimal Production Quantity
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AT-WILL EMPLOYEE “HIRED” to Perform Assigned Work “FOR” Firm May have Protections and Benefits Dischargeable without Notice
────────────────────── INDEPENDENT CONTRACTOR
“CONTRACTED” to Furnish Services “TO” Firm
No Protections and Benefits from Firm; Employer may have Duty
Contractual, not Employment-based
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SEXUAL HARASSMENTUNWELCOM
EAdvances,
Requests for Favors or Other
Verbal or Physical Conduct
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STOCK OPTION Right to Buy StockContractually Specified: Amount, Timing and Price
STOCK GRANT Right to Receive StockSpecified Amount that vests over Time
INCENTIVE-BASEDCOMPENSATION and
BENEFITS
Add to Text, p. 365-368 OPTION VALUE = Difference between Option’s
“Strike Price” and Stock’s “Market Price”
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DEFINED BENEFIT Participant receives Specific Monthly AmountAdvantage No Risk/Guaranteed SecurityDisadvantage Difficult-to-Define Employer Costs
DEFINED CONTRIBUTIONBenefit based on Participant’s Account (Employer/ Employee Contributions and Investment Earnings)Advantage Predictable Employer CostsDisadvantage Investment Risks; Latecomer’s Penalty
RETIREMENT PLANS
Supplement Text at p. 369
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SECTION 6 (487-491) Forms of Promotional
Messages for Push versus Pull Strategies
Purpose for Messages at Stages of Product Life Cycle
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STRONG DOLLAR WEAK DOLLAR
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Do Benefits outweigh Costs?BENEFITSEconomic Growth
Lower PricesJob Creation
COSTSShifting Job Distribution
Diminished Sovereign AuthorityMultiple Tax and Regulatory Standards
Is it worth it?
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THREEINDEXES
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EFFICIENT MARKET
HYPOTHESIS
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VALUE =EPS ÷ ERR
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