BUS100 GMU Final

at will employment

can be fired for any reason

social contract

informal agreement/contract between workers and managers

how has whistle-blowing changed historically?

whistle blowers now have more protection than ever

primary dimensions of diversity

age, ethnicity, gender, mental/physical abilities, sexual orientation

secondary dimensions of diversity

communication styles, ways of thinking, family status

what people disagree about with pay gaps

1.) dont exist

2.) so small they dont matter

3.) due to overt discrimination

4.) are womens fault

5.) no way to fix them

occupational segregation

disparity between genders or races in certain jobs

glass walls

a barrier to lateral movement within an organization, often due to prejudice.

glass ceilings

an unofficially acknowledged barrier to advancement in a profession, especially affecting women and members of minorities.

arguments for affirmative action

women and minorities still face discrimination and A.A. provides them an equal opportunity

arguments against affirmative action

perceived to be inconsistent with fairness and equality

what do companies do to promote diversity?

create policies that tap into the diverse perspectives, life experiences, and approaches that every individual brings to the workplace

5 basic consumer rights

1.) to be informed

2.) safety

3.) choice

4.) to be heard

5.) privacy

reasons for consumer movement

1.) complex products have complicated the choices consumers need to make

2.) products and services have become more specialized and difficult to judge

3.) advertising claims may be inflated or appeal to emotion

4.) technology allows businesses to know more about consumers and potentially violate their privacy

5.) some businesses ignore product safety

5 goals of consumer protection laws

1.) give consumers better info when making a purchase

2.) protect consumers from hazards

3.) promote competitive pricing

4.) promote consumer choice

5.) protect privacy

Primary Government agencies that cover Consumer Protection Laws

FTC

FDA

Consumer Product Safety Comission

National Highway Traffic Safety Administration

DOJ

NTSB

Consumer Financial Protection Bureau

Department of Agriculture

Product Liability

the legal liability a manufacturer or trader incurs for producing or selling a faulty product.

Strict Liability

manufacturers are liable for all injuries that their products cause

lumber liquidators case

A chinese contractor used a glue that would let out harmful chemicals after it was installed. Lumber liquidators was not directly responsible, but could have had more oversight over their contractors and subcontractors.

alternative dispute resolution

Using mediation and arbitration to resolve a dispute instead of litigation.

what businesses want from their communities

Schools

Recreation

Cultural services (arts)

Adequate Infrastructure

Adequate transportation systems

Public Safety (cops, fire)

Fair/equitable taxation

Streamlined permitting

what communities want from businesses

Pay taxes

Provide jobs/training

Acts lawfully

Supports schools

Supports arts/culture activities

Supports local healthcare

Assists less advantaged ppl

Contributes to public safety

consequences of super fast technological change

removes human contact, who decides what the next big tech breakthru is?, should there be constraints on businesses using tech?

technology

practical applications of science and knowledge to commercial and organizational activities

digital divide

the gap betweem those that have internet acess and those that dont

icloud case

att case

new belgium case

- open book management policy: its employees can see the company's financial statements, and can take part in making decisions for the company.

- Employee involvement is creating an environment in which people have an impact on decisions and actions that affect their jobs. Employee engagement is the key ingredient in High Involvement Culture.

- New Belgium Strives to care for the planet on which they sustain their business. New Belgium's method of reducing coal-fired electricity prevents air pollution.

- Utilized Green Design throughout their building

How does the govt protect individuals rights and property

right to be forgotten, intellectual property laws, digital millennium copyright act

white, grey, and black hat hackers

White: employed to hack businesses and govt systems to discover vulnerabilities

Grey: work on their own, inclined to share their exploits with the organizations they hacked

Black: straight up criminals

What does a CIO do?

Chief Information Officer, manages IT and privacy/security issues

Natural Capital

the world's stocks of natural assets which include geology, soil, air, water and all living things

why income inequality is bad

1. can give wealthier people an unacceptable degree of control over the lives of others.

2. can undermine the fairness of political institutions.

3.undermines the fairness of the economic system itself.

4. Workers have a claim to a fair share of what they have helped to produce.

how do poor and wealthy people handle sustainability

wealthy people are more focused on it than poor people. poor people are struggling to survive, so thats all they're focused on

Triple Bottom Line

an accounting framework with three parts: social, environmental (or ecological) and financial. Some organizations have adopted the TBL framework to evaluate their performance in a broader perspective to create greater business value.

comparative advantage

when one country is better at producing a good or service than another country

why is globalization good?

increases economic productivity, lower prices for consumers, gives developing countries access to foreign investment, fast technology transfer, reduces chance of military conflict

why is globalization bad?

job insecurity in developed countries, wages driven down by cheap offshore labor, erodes culture, race to the bottom

factor dynamics

what makes a place attractive to firms

Sovereign Wealth Fund

pools of money derived from a countrys reserves, set aside for investment purposes to benefit the countrys economy and citizens

world bank

provides loans to member nations for economic development

IMF

offers loans to developing countries, minimal interest rates, maintains global financial stability

WTO

sets ground rules for trade among nations

Ricardo's Theory of competitive advantage

explains why countries engage in international trade even when one countrys workers are more efficient at producing goods than workers in other countries

race to the bottom

progressive lowering of standards as a result of pressure and competition

Tier 1 Supplier

the most important member of a supply chain, supplying components directly to the original equipment manufacturer (OEM) that set up the chain

Tier 2 Supplier

the key suppliers to tier one suppliers, without supplying a product directly to OEM companies.

Tier 3 etc...

Tier three companies supply tier two firms. Tier four companies are the providers of basic raw materials, such as steel and glass, to higher-tier supplier

Social Issues facing supply chains

Sweat shops, child labor, forced labor, low wages, poor working conditions

Ethical issues facing supply chains

violations of human rights, human trafficking, securing minerals and other things from conflict zones

Environmental issues facing supply chains

waste disposal, sourcing materials, transporting materials

how to do a successful supply chain audit

Surprise inspections, open channels for employees to air grievances, more direct oversight over contractors and subcontractors