BUS 303 EXAM 2024 QUESTIONS & ANSWERS WITH COMPLETE SOLUTION

BUS 303 EXAM 2024 QUESTIONS & ANSWERS WITH COMPLETE SOLUTION • How should managers prioritize among stakeholders? - o Normative take moral precedence over derivative - to advance normative interests involves spending time and resources attending to demands of derivatives • Normative stakeholders - - those groups and individuals from whom the organization has voluntarily accepted benefits and therefor has incurred obligations of fairness • Employees, financiers, customers, suppliers, communities • What stakeholders want? - Stakeholders want measure of organizational value or outcome o Stakeholder communication - managers in constant contact with them are better at assessing goals, to take advantage of unforeseen but mutually advantage opportunities and avert conflict before it reaches a critical stage → it's a matter of moral obligation bc they are permitted to some say in how company is managed • Who are an organizations stakeholders and what is the basis for their legitimacy? - Stakeholders are groups from whom organization has voluntarily accepted benefits and to whom the organization has therefore incurred obligations of fairness 10. Role morality - - • Why pay attention to stakeholders? - Because of the property rights argument - if the manager fails to max profit for company they are essentially stealing/spending the shareholders money o Company execs are responsible for administering the affairs of the organization, including the moral obligations entailed in stakeholder fairness 1. expected or standard practice - "everyone does this, so its really standard practice. Its even expected" 3. Advantageous comparison - Comparing ones behavior with even more harmful conduct ex) "at least I didn't.." 4. Diffusion of responsibility - Refers to group setting where individual responsibility is dispensed such that no 1 person is accountable 5. Displacement (differing) of responsibility - - The shifting of a persons responsibility for action or inaction onto another, usually authority figure → words influence actions even if it goes against morals