Strategic Management Concepts and Business Ethics

Strategic Management and Business Ethics

1. Stuck in the Middle: Low performance.
2. Approaches to Ethical Behavior.
3. Archie Carroll’s Four Responsibilities: Legal, economic, ethical, and discretionary.
4. Attributes of Corporate Culture.
5. Bargaining Powers of Buyers: Large buy, backward integration.
6. Bargaining Powers of Suppliers: Ability to raise prices and reduce the quality of purchased goods.
7. Strategic Management Process: Environmental scanning, evaluation, and disseminating information to external and internal stakeholders.
8. Board of Directors Participation: Active, nominal, etc.
9. Brainstorming.
10. Planning Mode of Strategic Formulation: Analysis, choice, implementation, and evaluation.
11. Code of Conduct: Regulates supplier behavior and ethics.
12. Competitive Advantage.
13. Competitive Strategies: Changing product price versus quality.
14. Competitive Strategy: Long-term plan.
15. Consolidated Industry: Differentiating products from the competition.
16. Cooperative Strategy: Working with other firms to gain a competitive advantage.
17. Corporate Governance.
18. Corporate Mission: Description of competitive advantage.
19. Corporate Strategy: Adding value.
20. Cost Leadership: Lowest cost operation (value).
21. Differentiation Strategy: Distinguishing your firm from competitors.
22. Differentiation: VRIO framework.
23. Diversity.
24. Emphasis of Strategic Management: Long-term focus.
25. Ethics Definition: Behavior of a profession, occupation, and trade.
26. Extrapolation.
27. Functions of Corporate Cultures: Intensity and integration.
28. Global Industry.
29. Innovation.
30. Lead Director (Catalyst): Assigned by the CEO to make decisions regarding company operations.
31. Milton Friedman’s View: A business’s only responsibility is profit (viewed as a fundamentally subversive doctrine regarding social change).
32. Milton Friedman’s Arguments Against Social Responsibility: Maximize profit and stay in the game.
33. Moore’s Law: Integrated circuit capacity doubles.
34. Moral Relativism: Social, personal, and cultural.
35. Multi-domestic Industry.
36. Primary Stakeholders: Customers, employees, creditors, and investors.
37. Responses to Performance Gap: Objectives, strategy, and policies.
38. Role Relativism: Social roles.
39. Sarbanes-Oxley Act: Protects shareholders, whistleblowers, and financial statements.
40. Standard Operating Procedure: Strategic, emergency, disaster, and event protocols.
41. Stewardship Theory: Managers acting responsibly.
42. Strategic Management Model: Implementation, evaluation, long-term goals, mission, and vision.
43. Strategic Management in Small Organizations: Informal and irregular.