part Chapter © 2009 The McGraw-Hill Companies, Inc. All rights reserved. 1 McGraw-Hill Management in the 21 st Century 4 Chapter 14

© 2009 The McGraw-Hill Companies, Inc. All rights reserved. 2 McGraw-Hill Learning Objectives 1.Discuss how managers might manager in the future. 2.Identify how technology impacts the managerial role. 3.Review the challenges of managing a virtual team. 4.Discuss social responsibility and organization’s code of ethics. 5.Identify laws pertaining to ethics in business. 6.Explain social responsibility.

© 2009 The McGraw-Hill Companies, Inc. All rights reserved. 3 McGraw-Hill Introduction Significant changes in 20 th century Projections for 21 st century Rate of change has continued to accelerate Three key areas: – Technological growth – Virtual management – Ethical and social responsibilities

© 2009 The McGraw-Hill Companies, Inc. All rights reserved. 4 McGraw-Hill The Growth of Technology Cyberspace and e-commerce B2B, B2C, and C2C Technology and the development of management process –ERP technology –CRM technology

© 2009 The McGraw-Hill Companies, Inc. All rights reserved. 5 McGraw-Hill Virtual Management Unique set of challenges Three common types of virtual organizations – Forming a company by communicating via computer, phone, fax, and videoconference – Partnering – Outsourcing by using modern technology Network of collaborators Role of technology Wave of the future

© 2009 The McGraw-Hill Companies, Inc. All rights reserved. 6 McGraw-Hill Ethics and Social Responsibility A set of moral principles or values that govern behavior. Individuals and businesses develop ethics Management issues – emotionally charged Codes of Ethics A document that outlines principles of conduct to help managers

© 2009 The McGraw-Hill Companies, Inc. All rights reserved. 7 McGraw-Hill Code of Ethics Content of Ethical codes Behaving Ethically Behaving Honestly –Employee theft –Lying about ours worked –Falsifying records Dealing with Ethical Dilemmas –Answer a series of questions or talk to people you trust to help you

© 2009 The McGraw-Hill Companies, Inc. All rights reserved. 8 McGraw-Hill Law Relating to Ethics in Business Competitive Behavior The Sherman Act The Clayton Act The Wheeler-Lea Act

© 2009 The McGraw-Hill Companies, Inc. All rights reserved. 9 McGraw-Hill Corporate Governance SOX File complaints Consumer Protection Food and drugs Consumer products Loans

© 2009 The McGraw-Hill Companies, Inc. All rights reserved. 10 McGraw-Hill Environmental Protection The National Environmental Policy Act of 1969 The Clean Air Act of 1970 The Toxic Substances Control Act of 1976 The Clean Water Act of 1977 Ethical Standards and Culture Standards differ Be aware of differences

© 2009 The McGraw-Hill Companies, Inc. All rights reserved. 11 McGraw-Hill Corporate Gift Giving Customs differ Abide by standards Intellectual Property Guaranteed rights Enforcement problem Rules differ in some countries

© 2009 The McGraw-Hill Companies, Inc. All rights reserved. 12 McGraw-Hill Social Responsibility Three distinct schools of thought: Profit maximization Trusteeship management Social involvement – Help solve problems – Stakeholders

© 2009 The McGraw-Hill Companies, Inc. All rights reserved. 13 McGraw-Hill Measuring Social Responsibility Philanthropy and Volunteerism Environmental Awareness Sensitivity to Diversity and Quality of Work Life Actions Necessary to Implement Social Responsibility Biggest obstacle Organizations should examine values Corporate philanthropy

© 2009 The McGraw-Hill Companies, Inc. All rights reserved. 14 McGraw-Hill Conducting a Social Audit Five steps for a social audit Examine expectations Examine objectives Plan strategies Set budgets Monitor accomplishments Annual reports