Ethical Decision-Making, Social Responsibility, and AI in Business Strategy

AI Strategy Discussion: Focus on appropriate decision-making when AI is incorporated into business operations.
Case Study One Introduction: First case analysis will be introduced.
- Students will be provided with an outline and rubric for the analysis.
- The due date is approximately $3$ weeks away, but an introduction is being given early to set expectations.
- Teams will choose from a list of companies for the case study. The preference is for no more than two teams to use the same company.
Wednesday: Competition Round One (CapSim Simulation):
- Teams should begin forming their Mission Statement as the guiding force for their company, outlining their expectations.
- Specific Objectives must be set, which are measurable and have a timeline ( $M$ with a $T$ ).
- Strategies are the most difficult part, detailing how the company plans to accomplish its objectives.
- A draft of the company's mission statement, objectives, and strategies is due by Wednesday.

CapSim Company (Andrews, Baldwin, Chester, Digby, Erie, or Ferris): This track involves developing the team's own company within the simulation.
Case Study Analysis: This track involves analyzing existing companies and their encountered objectives and strategies.
It is crucial not to confuse these two distinct activities.

Core Concept: A private company or corporation has responsibilities to society that extend beyond merely making a profit.

Argument: Friedman, an economist from the late $1980$ s and $1990$ s, argued against the concept of corporate social responsibility.
Primary Goal: The primary goal of a business is profit maximization.
Shareholder Focus: Shareholders invest in companies expecting a return ( $ROI$ ) on their investment.
Critique of CSR: Engaging in philanthropic or environmental approaches beyond legal requirements is seen as taking away from shareholders.
Example: Starbucks'