CHANGE - CULTURE – ETHICS – GLOBALIZATION – INNOVATION - STRATEGY CUEGIS CONCEPTS CHANGE - CULTURE – ETHICS – GLOBALIZATION – INNOVATION - STRATEGY

CUEGIS CONCEPTS Examine how the concepts of CHANGE CULTURE ETHICS GLOBALIZATION INNOVATION: STRATEGY apply in the different topics of units (1-5) of the organization you chose.

How are these concepts integrated into the curriculum? (change, culture, ethics, globalization, innovation, strategy) Content (management tools, techniques, and theories) Contexts (case studies and examples)

WHY On paper 2 section C of your exam (25%), you are asked to use two of the six concepts of change, culture, ethics, globalization, strategy and innovation to discuss the situation and issues faced by real-life organization(s) you have studied during the course, making use of business management content of the sillabus. Consequently, throughout the business management course, you need to identify real-life organizations to which these concepts apply. For example, you can identify organizations facing a period of significant change, cultural challenges, ethical dilemmas, issues related to globalization, strategic decisions or innovation opportunities.

What now? At the end of each unit block (chapter), you will select an organization that can be studied in relation to the content studied in the unit. you will then find context (examples) from the chosen organization to show how they are impacted by two or more of the six concepts.

What will this look like? Throughout the course you will keep a portfolio that presents the concepts, related to content and context: How does ______ concept, impact ______ organization, as it relates to ______ business management content. How does innovation impact BP and their approach to sustainable resources/the triple bottom line? To what extent does BP use innovation to create sustainability?

How do I begin? In the wiki create a folder that is titled with your first and last name - “concept based learning portfolio” Begin your first entry… On a continuous basis, connect context with concepts and content by performing the following after each sub-unit:

How to decide what to write about: identify unit content. For example: 1.1 - input, resources (human, physical, enterprise, financial), output, economic sectors (primary, secondary, tertiary, quaternary), sustainability, triple-bottom-line. 1.2 - business sectors (public, private), profit-based and non-profit-based organizations, factors to consider when choosing an ownership structure. identify context - BP, McDonald’s, Broughton High School identify concepts that can be applied - BP changing strategy after oil spill; BP using innovation to make resources more sustainable; McDonald’s offering new menu choices and using more sustainable suppliers to meet the changing demand of consumers.

what should an “entry” include? #’s 1,2 and 3 from the previous slide. Create and answer a command question: example: examine the role that ethics have in BP’s effort to use sustainable resources. example: to what extent have consumer trends and attitudes led to the changes that McDonald’s has made in its inputs and outputs in the last 5 years?

How will this be assessed? There are 5 assessment criteria for this question type: Criterion A: Knowledge and conceptual understanding Criterion B: Application Criterion C: Reasoned argument Criterion D: Structure Criterion E: Individuals and society

KWALAQ What do you already Know? What do you want do learn or find out? How will you go about finding this information What did you learn from the experience? What further clarification would you like? What questions have arisen?

Calendar of Activities Nov 27: Cueguis & IB Profile

CUEGIS CONCEPTS CHANGE: The business world is dynamic: changes in business strategy are influenced by a range of internal and external factors. In turn, businesses affect the environment in which they operate. CULTURE: Culture is the values, beliefs, attitudes and norms (code of behavior) of an organization, country or other social grouping. It shapes the customs of people and how things get done. These expectations affect planning, decision making and strategy implementation. Within an organization, values and backgrounds influence what stakeholders focus on and how they work. ETHICS: The socially accepted moral principles that guide decision making and strategy, based on the collective belief of what is right and what is wrong. Business Ethics: The actions of people and organizations that are considered to be morally correct. (this involves actions in relation to workers, customers, shareholders and the natural environment). Every business decision has moral implications.

CUEGIS CONCEPTS GLOBALIZATION: A wide range of international forces (such as the increasing social, cultural, technological and economic integration) influence business organizations. In turn, business organizations shape these forces. Globalization provides both opportunities and threats for businesses. INNOVATION Incremental or radical improvements to a business idea, or the generation of new ideas in relation to a final product, service or process, are the result of internal or external influences. Innovation can apply to all aspects of business activities, not just products. Innovation requires managers to think creatively and more holistically about their entire business operations. STRATEGY: the significant long-term planning decisions that organizations make in order to meet the needs and wants of their stakeholders.

Change Change: Competition, new technologies and markets, and trends in consumer behavior lead business organizations to change and adapt their objectives, strategies and operations. Reflect on the greater speed with which decisions need to be made and circumstances change in the operating environment of most businesses Success emerges from the ability to research and respond to signals in both the internal and external environment. Due to the conflicting forces, change must be managed within organizations if they are to move forward and remain competitive. The relative strength of these forces determines whether the change should take place. Consider the following example. For generations, Kodak was synonymous with photography. Founded in 1889, the company was one of the best-known brands of the twentieth century. However, with the rise of digital cameras, the market for camera films (dominated by Kodak) died a pretty quick death. Kodak, however, ignored the change, having expanded its global workforce and increased production of the old technology. By 2006 it was selling an obsolete product, and in 2013 the company filed for bankruptcy protection.

CULTURE Culture: Culture is the values, beliefs, attitudes and norms (code of behaviour) of an organization, country or other social grouping. Appreciate that businesses need to align a broad spectrum of individual, collective and societal cultures. Every organization operates in a range of environments in which its role may be interpreted differently. The code of behaviour and attitudes that influence the decision-making style of the managers and other employers of the business. Culture is a way of doing things that is shared by all those in the organization. It shapes the customs of people and how things get done. These expectations affect planning, decision making and strategy implementation. Within an organization, values and backgrounds influence what stakeholders focus on and how they work. Language is an integral part of culture. Even countries that share a common language (such as Australia and the USA) have cultural differences embedded in their language.

ETHICS: ETHICS: The socially accepted moral principles that guide decision makingand strategy. , based on the collective belief of what is right and what is wrong. Business Ethics: The actions of people and organizations that are considered to be morally correct. (this involves actions in relation to workers, customers, shareholders and the natural environment). Every business decision has moral implications. The rather subjective nature of ethics means it is sometimes unclear what is ‘right’ or ‘wrong’, especially when looking at an issue from the perspective of various cultures. Consider the examples below: Is it morally acceptable for a business to fabricate its financial accounts if this prevents mass job losses?Is it possible to ensure equity and equality in the workplace? Is it acceptable for a business to monitor the online activities of employees, e.g. their e- mail correspondence? Can it ever be morally acceptable to take credit for the work of others? Can acting unethically ever be ‘good’ for a business? Does acting ethically hinder the profitability of an organisation?

GLOBALIZATION GLOBALIZATION: A wide range of international forces (such as the increasing social, cultural, technological and economic integration) influence business organizations. In turn, business organizations shape these forces. Reflect on the interconnected patterns of production and consumption shaped by businesses and affecting them. Globalization: Many business organizations operate across national boundaries. Even local businesses and consumers are influenced by global forces. Globalization provides both opportunities and threats for businesses. Globalization considerably increases the level of competition as well as access to customers. Multinational companies have greater choice of location of their production facilities. For example, Apple chose to outsource production to China due to the relatively low costs of labour and land.

INNOVATION INNOVATION Incremental or radical improvements to a business idea, or the generation of new ideas in relation to a final product, service or process, are the result of internal or external influences. Emphasize the need for businesses to renew themselves in the competitive, technologically advanced market place with increasingly sophisticated customers. For many business organizations, a key challenge is bringing in ”the new” and managing the process of improvement in a sustainable way. Innovation in the corporate world can empower businesses and give them competitive advantages. Many of the most economically successful businesses and countries are ones that have an innovative corporate culture. Innovation can apply to all aspects of business activities, not just products. Innovation requires managers to think creatively and more holistically about their entire business operations.

STRATEGY: STRATEGY: the significant long-term planning decisions that organizations make in order to meet the needs and wants of their stakeholders. Reflecting the importance of holistic long-term planning in an operating environment with the above attributes. Strategy: Strategy is about asking questions: what, why, when, how, where and who? There are three stages to the strategic process: Determining the current position of an organization (where is the business now?) Determining the desired future of the organization (where does the business want to be? (Aims & objectives 1.3) Determining how to get the organization to where it wants to be (how does the business get there?)

CUEGUIS CONCEPTS- Change: https://www.youtube.com/watch?v=K3-_IY66tpI – Gary Hamel on the future of management Change: The business world is dynamic: changes in business strategy are influenced by a range of internal and external factors. In turn, businesses affect the environment in which they operate. How do changes in the world bring about changes in knowledge? How do human scientists decide between competing knowledge claims, or between the views of experts, when they disagree? What is the role of individuals in bringing about major changes in the theory and practice of business management? How does this compare with individuals’ role in bringing about change in other areas of knowledge? To what extent have views on whether humans act rationally when making economic decisions changed over time? What is the relationship between reason and other ways of knowing in business management?

CUEGUIS CONCEPTS CHANGE - STRATEGY The drivers of change in the secondary sector in country X The emergence of the quaternary sector in region X Entrepreneurial opportunities in market X due to changes in consumer behavior The reasons why sole trader X may need to become a private limited company Organizational objectives of an organization may have to change to reflext changes on the external environment: Social, technological, economic, environmental, political, legal and ethical (STEEPLE) analysis for organization X (1.5) The causes and consequences of growth for organization X

CUEGUIS CONCEPTS Culture: The code of behaviour and attitudes that influence the decision-making style of the managers and other employers of the business. Culture is a way of doing things that is shared by all those in the organization. To what extent does our culture determine or shape what we believe or know? To what extent are we aware of the impact of culture on what we believe or know? Is it possible to evaluate objectively how a culture impacts on our beliefs and knowledge? Are there any knowledge claims about business that are true across cultures?

CUEGUIS CONCEPTS Culture: The code of behaviour and attitudes that influence the decision-making style of the managers and other employers of the business. Culture is a way of doing things that is shared by all those in the organization. KEY CONCEPT LINK: EVALUATE THE IMPACT OF DIFFERENT TYPES OF ORGANIZATIONAL OWNERSCHIP ON BUSINESS STRATEGY FOR THE ORGANIZATION YOU CHOSE. IS THE CULTURE OF AN ORGANIZATION PARTLY DEPENDENT ON ITS LEGAL FORM OF OWNERSHIP? (1.2: SOLETRADERS AND BIG PUBLIC LIMITED COMPANIES/ FOR PROFIT ORGANIZATIONS AND NON PROFIT SOCIAL ENTERPRISES? WITH REFERENCE TO THE ORGANIZATION YOU CHOSE, DISCUSS HOW ORGANISATIONAL OBJECTIVE MAY DIFFER IN 2 CULTURES YOU ARE FAMILIAR WITH.

CUEGUIS CONCEPTS CULTURE - ETHICS Businesses’ view of their rights and responsibilities towards their stakeholders is partly defined by the aims and objectives of the organization, and partly by the cultural values of the region(s) in which they operate. Differences in the role of employees in different organization types—the case study of corporation X and partnership Y The consistency of the strategy and corporate social responsibility (CRS) agenda of public limited company X, as analysed through their annual report The relationship of multinational company X towards its suppliers in mature market Y and emerging market Z How do assumptions about what a business is and how a business works vary by industry and location, and what implications does this have for business actors? To what extent are the language and customs of business management based on the English language and western tradition? What implication does this have for business cultures around the world? WITH REFERENCE TO THE ORGANIZATION YOU CHOSE EXAMINE THE INFLUENCE OF CULTURE AND ETHICS ON DIFFERENT STAKEHOLDER GROUPS.

CUEGUIS CONCEPTS Ethics: www.youtube.com/watch?v=6okfuCea7ey What is the role of intuition in ethical decision-making? To what extent might lack of knowledge be an excuse for unethical conduct? If moral claims often conflict, does it follow that there are no justifiable concepts of right or wrong? What are the justifications for, and implications of, claiming that there are universal standards for morality, or that there are only individual standards of morality?

CUEGUIS CONCEPTS ETHICS - GLOBALIZATION Globalization leads businesses to new ethical considerations, as they have to deal with more diverse groups of people in more diverse settings. The gradual changes in organization X’s ethical stance towards its employees when becoming international The compatibility of market developments and ethical considerations for organization X in developed country Y and developing country Z The challenges for multinational company X in defining who are their internal and who are their external stakeholders How can we evaluate the benefits and drawbacks of globalization, given the multitude of stakeholders it influences?

CUEGUIS CONCEPTS-Globalization Does globalization unify our values, beliefs and knowledge or lead to their greater fragmentation? Are some ways of knowing more useful than others when trying to understand the process of globalization and its effects? To what extent is our knowledge and understanding of complex phenomena such as globalization dependent on our particular perspective? Business management uses case studies, a research method most commonly associated with the human sciences. What are the benefits and drawbacks of this in a globalized world? How else does the methodology of the human sciences differ from the methodology of other areas of knowledge?

CUEGUIS CONCEPTS-Innovation Innovation occurs when an invention or new idea becomes successful in the marketplace. The product attracts customers and is economically sustainable What is the relationship between imagination and other ways of knowing in bringing about innovation? What are the strengths and weaknesses of using imagination and emotion as a basis for knowledge in the human sciences? Concepts such as “innovation” are difficult to define. Can we have shared knowledge of concepts that are so difficult to express through language? What is the relationship between advances in technology and innovation? Does technology control what is possible to know? https://www.youtube.com/watch?v=lFkJw6T7ZKw Management Innovation https://www.youtube.com/watch?v=rZU0tv6OMI4 Innovation Management at Rutgers Business School https://www.youtube.com/watch?v=VFshvhzcCVw BETTER & FASTER: Innovation Keynote Speaker Jeremy Gutsche's Top Speech on Innovation https://www.youtube.com/watch?v=NugRZGDbPFU WHERE GOOD IDEAS COME FROM by Steven Johnson

CUEGUIS CONCEPTS CULTURE - INNOVATION Many businesses start from an innovation, but being able to think and act new continuously is often a requirement for further success and growth in a competitive market place. Innovations that have been game-changing for product X—and what has happened to companies who made them over time? Differences and similarities in how profit and non-profit businesses innovate for service X Strengths, weaknesses, opportunities and threats (SWOT) analysis for a start-up X and an established business Y in market Z

Key concept question With reference to the organization you chose, evaluate the importance of innovation in starting a new business (1.1).

CUEGUIS CONCEPTS- STRATEGY https://hbr.org/2004/10/blue-ocean-strategy What is strategy based on? Reason, intuition or something else? Can we speak of facts in business management or only opinions? Strategic decisions are supported by evidence. How can we evaluate the usefulness of evidence? How can we decide between seemingly conflicting evidence? How powerful is language in shaping our interpretation of decisions and events?