BSNS 111 Summary (2024)

Exam Structure

Question Breakdown

  • Two questions totaling 40 marks in a 2-hour exam

  • Section A: Compulsory Question worth 20 marks

  • Section B: Choose ONE question from THREE options for 20 marks

Essay Question Styles

  • Analyse: Break down into fundamental parts

  • Justify: Explain opinion convincingly

  • Explain: Detailed description of concept or theory

  • Discuss: Present arguments for and against

Proper Essay Format

  • Introduction with thesis statement

  • Main body paragraphs

  • Conclusion

Diversity, Ethics, and Regulations

Importance of Diversity

  • Workplace diversity includes race, gender, ethnicity, and age

  • Challenges include 'diversity fatigue' and lack of management adaptation

  • Benefits: Competitive edge, creativity, consumer needs reflection

  • Managing diversity involves inclusive practices and training

Failures of Diversity in Business

  • Key issues: Ethnocentrism, Stereotyping, Glass Ceiling, Monoculture

  • Low percentage of women in top management highlighted

  • Benefits: Increased competitive edge, creativity, flexibility

Managing for Diversity

  • Strategic management objectives and accessibility

  • Leadership in diversity, communication, and decision-making

  • Promotion procedures, organisational structures, HR practices

  • Examples of best practices in New Zealand

Employee Rights and Ethical Culture

  • Employer responsibilities for workplace safety and ethical conduct

  • Relevant Acts: Health and Safety at Work, Employment Relations Act

  • Issues: Employment-at-will, Privacy, Integrity testing, Monitoring

  • Elements for ethical organizational culture: Ethical leadership, Moral Management

Developing Ethical Organisational Culture

Ethical Leadership

  • Presence of ethical leadership at all levels of the organization is crucial for setting the tone and guiding ethical behavior.

  • Ethical leadership is exemplified by the board of directors, senior executives, and managers.

  • Managers and employees look to leaders for cues on acceptable practices and policies.

  • Leadership should reflect respect, dignity, and adherence to ethical standards.

Core Ethical Values

  • Incorporating ethical values into policies, processes, and practices throughout the organization is essential.

  • Clear communication of ethical standards and expectations is vital for organizational members.

  • Ethics should be conveyed through both written and verbal forms of communication.

  • Corporate Public Policy plays a role in reflecting the firm's stance on ethical and social concerns.

Formal Ethics Program

  • Implementing a formal ethics program with a code of ethics, ethics training, and an ethics officer is crucial.

  • Ethics and compliance programs are responsible for monitoring and improving ethics within the organization.

  • These programs ensure adherence to ethical standards and guide employees in ethical decision-making.

  • Ethics programs are integral in creating an ethical workplace culture.

Māori Business and Values

Indigenous Economy Characteristics

  • Indigenous economic activity is driven by the respective Indigenous worldview.

  • Values 'accumulation of sharing' which emphasizes equitable distribution of wealth within the community.

  • Key values like Whanaungatanga, Manaakitanga, and Kaitiakitanga influence governance and decision-making.

  • Tikanga guides decision-making processes within Maori organizations.

Corporate Social Responsibility in Māori Business

  • Māori businesses focus on sustainability of people and the planet to drive profit.

  • CSR aligns business activities with societal needs, creating shared value and mutual benefit.

  • Values like Kaitiakitanga (Guardianship) are integrated into business operations.

  • CSR in New Zealand reflects the integration of traditional values with modern business practices.

Social Responsibility and Impact

Social Responsibility Definition

  • Social responsibility encompasses economic, legal, ethical, and philanthropic expectations on organizations.

  • Modern focus on making a positive impact on society alongside financial success.

  • Young people increasingly seek to use their skills for social causes.

  • Social enterprises combine profit-making with addressing global issues like hunger and climate change.

Social Enterprise Initiatives

  • Companies fund programs, partner with entities, or follow donation models to achieve social goals.

  • Nau Mai Rā exemplifies a Māori social enterprise focusing on ending energy poverty through manaakitanga.

  • Corporate social responsibility in New Zealand aligns with Māori values of sustainability and care for others.

  • Businesses are applying CSR principles more widely to drive societal and environmental benefits.

Comparison to Capitalism

Capitalism Overview

  • Capitalism involves private ownership of production and distribution, driven by profit motives.

  • Wealth concentration among a small portion of society leads to further wealth accumulation.

  • Competition in capitalism can sometimes lead to unethical behavior for profit maximization.

  • The Friedman Doctrine emphasizes profit generation within legal boundaries, often neglecting broader social and environmental impacts.

Environmental Sustainability

  • Human consumption growth poses a significant threat to environmental sustainability.

  • The Anglo-American worldview in capitalism often prioritizes profit over environmental concerns.

  • Sustainability challenges arise from the unchecked pursuit of profit and resource exploitation.

  • Balancing profit motives with environmental and social responsibilities is crucial for long-term sustainability.

Globalisation and Environmental Sustainability

Impact on Environmental Sustainability

  • Human consumption poses the greatest threat to environmental sustainability.

  • Globalisation leads to increased interconnectedness across borders, affecting environmental policies and practices.

  • Rise of Multinational Corporations contributes to environmental challenges.

  • Inequality exacerbated by globalisation affects environmental resource distribution.

Globalisation in New Zealand

  • 30.3% of NZ GDP in 2010 attributed to globalisation.

  • Significant overseas-born population and reliance on meat exports.

  • Debate on whether globalisation benefits or harms NZ society.

  • Unequal distribution of benefits from global trade in NZ.

Business Ethics in a Global Context

Challenges and Pressures on Businesses

  • Increasing societal expectations for ethical business conduct.

  • Impact of social media on exposing unethical business practices.

  • Case studies like the Infant Formula Controversy highlight ethical dilemmas.

  • Rana Plaza disaster and Bhopal Tragedy underscore ethical lapses in business operations.

Strategies for Enhancing Global Business Ethics

  • Implementation of global codes of conduct for ethical business practices.

  • Integration of ethics into multinational corporate strategies.

  • Consideration of ethical impact through statements and audits.

  • Suspension of business activities in countries with significant ethical gaps.

System Thinking and Business Practices

Concepts and Applications of System Thinking

  • System thinking addresses complex and interconnected challenges.

  • Application in environmental issues like smog and toxic waste.

  • Circular economy models aim to reduce pressure on natural ecosystems.

  • Anthropocentric vs. Sustain-centric thinking in business paradigms.

Sustain-centric Approach to Business

  • Emphasis on businesses operating within safe ecological limits.

  • Advocacy for nature-centric business and marketing strategies.

  • Promotion of Corporate Social Responsibility (CSR) as a sustain-centric practice.

  • Shift from profit-driven to environmentally conscious business models.

Discussion Questions

Discuss the importance of diversity and inclusion in businesses, highlighting the benefits and challenges associated with managing a diverse workforce.

Difficulty: Medium

Explain the strategic management process for managing diversity in businesses, outlining key objectives and practices that promote inclusivity and diversity.

Difficulty: Hard

Analyse the ethical challenges faced by businesses in a global environment, using real-world examples to illustrate the impact of unethical practices on stakeholders.

Difficulty: Medium

Justify the significance of sustain-centric thinking in business operations, explaining how it differs from anthropocentric behaviour and its implications for corporate social responsibility.

Difficulty: Hard

Discuss the impact of globalisation on New Zealand society, evaluating whether the trends of globalisation and trade have been beneficial or detrimental, providing reasons to support your argument.

Difficulty: Medium

Explain the concept of corporate social responsibility (CSR) and its significance in aligning business objectives with societal needs, providing examples of businesses in New Zealand that exemplify CSR practices.

Difficulty: Easy

Analyse the key elements required for developing and sustaining an ethical organizational culture, emphasizing the role of ethical leadership, moral management, and core ethical values in promoting ethical conduct within businesses.

Difficulty: Easy