MGT 340 Final Exam Study Guide PDF

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Detailed lecture notes and study guide for final exam. Professor Bazen. ...

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MGT 340 Final Exam Study Guide

1. Five P’s of the Golden Rule a. Pressure b. Pleasure c. Power d. Pride e. Priorities 2. Two parts of the golden rule a. The standard to follow. b. The will to follow it. 3. The Ethics Triangle

Opportunity

Motivation

Rationalization

4. Why do an Internal Audit (As Opposed to an External Audit) a. An internal audit can catch mistakes faster than an external audit can. 5. Ethics Audit Steps a. Secure commitment of top managers and BOD. b. Establish a committee to oversee the audit. c. Define the scope of the audit process. d. Review organization mission, values, goals, and policies and define ethical priorities. e. Collect and analyze relevant information. f. Verify the results. g. Report findings. 6. The Ethics Officer a. If there is no ethics officer: Human Resources does the job.

7. Five Types of Power a. Reward: ability to influence the behavior of others by offering them something desirable. b. Coercive: penalizes actions or behavior and relies on fear to change behavior (more effective in short than long run). c. Legitimate: stems from the belief that a certain person has the right to exert influence and certain others have an obligation to accept it. d. Expert: derived from a person’s knowledge (or perception that a person possesses knowledge); usually stems from superior’s credibility with subordinates. e. Referent: exists when one person perceives that his/her goals or objectives are similar to another’s with an attempt to influence the first to take actions that allows both to achieve their objectives. 8. What Drives an Ethical Culture? a. Leadership 9. Four Types of Culture a. Caring Culture b. Integrated Culture c. Apathetic Culture d. Exacting Culture 10. Grid About Concern for People and Performance High Concern for People: Caring Culture

Integrated Culture

Low Concern for People: Apathetic Culture Exacting Culture Low Concern for Performance

High Concern for Performance

11. Incentives and Competition in Business – is it ethical or unethical? a. Weekly Paper 9. 12. Values-Based Versus Compliance-Based Culture a. Compliance-Based Culture: very black and white; rules dictate; the minimal standard.

b. Values-Based Culture: based on what the company values (respect, integrity, etc.); employees are given trust and transparency in hopes they can analyze and make ethical decisions based on values; compliance and rules still exists, but are derived from values and explained. c. At-Will, not At-Whim or At-Want. 13. Executive Isolation and Impacts a. Can compromise decision making and leadership effectiveness. b. Only showed successful projects and happy employees. c. Begin to utilize employees and groups less and become less involved. d. How to Reduce Executive Isolation i. Detect that you are experiencing it. ii. Get out of the bubble. iii. Skip-level meetings. iv. Tell your senior team to push back when they disagree and challenge your thinking. 14. Article: Value-Based Culture and Why It Pays Off a. Three Reasons i. Spell out the values of the organization and what it stands for. ii. Set out policies that require behavior from employees that are consistent with the values that were enumerated. iii. Keep things simple and don’t make rules that fail to encourage the behaviors you want to see. 15. Hotline Calls and Issues a. Need: safe places that employees can go to report unethical or illegal conduct among their supervisors; anonymous; very few may ever report due to fear. b. Compares to speed traps or random drug tests for athletes. c. Creates third-grader-on-steroids mentality – colleagues repeatedly report their colleagues for alleged and generally unsubstantiated violations; hotline is little

more than a convenient way to harass people they don’t like, discredit political opponents, and settle old scores. d. Required every allegation to be investigated – countless hours and dollars investigating crazy claims. e. A tool for empowering employees should not become a weapon and a drain of resources. 16. Respond to a Hotline Call (essay question) 17. Hofstede Dimensions a. Individualism/Collectivism: how self-oriented members of a culture are in their behavior. b. Power Distance: the power inequality between superiors and subordinates. c. Uncertainty Avoidance: how members of a society respond to uncertainty or ambiguity. 18. Global Common Values a. Global Common Values: values shared across most cultures. i. Most common values derived from religion. 19. Break down ethical leadership into three things (essay question) a. Trust. b. Empathy towards All. c. Compliance versus Values/Integrity 20. Types of Leadership a. Unethical Leader i. Egocentric. ii. Searches for loopholes. iii. Perceive ethics codes, compliance regulations, and industry standards as optional. iv. Justification for breaking laws – serves a greater good; risk of getting caught is low. b. Psychopathic Leader (1%)

i. Superficial charm. ii. No conscience. iii. Grandiose self-worth. iv. Little/no empathy. v. Enjoy flouting rules. c. Apathetic Leader i. Cares little for ethics. ii. Views ethics as relative/optional. iii. Often display no passion for firm or mission. iv. Employees don’t see sacrifices in them other managers display. d. Ethical Leader i. Includes ethics at every operational level. ii. Addresses issues as soon as they appear. iii. Tries to create participative organizational cultures. iv. Views employee collaboration as an important resource. 21. Conflict management styles a. Competing, Collaborating, Avoiding, Accommodating. High Assertiveness: Competing

Collaborating

Compromising Low Assertiveness: Avoiding

Accommodating

Low Cooperativeness:

High Cooperativeness:

b. Quote: one man’s terrorist is another man’s freedom fighter – question about what that means 22. Ethical Decision Framework – essay question (draw it) 23. Transactional versus Non-Transactional Leader a. MAGIC i. M: meaning ii. A: autonomy iii. G : growth

iv. I: impact v. C: connection. b. Transactional Leaders: attempt to create employee satisfaction through negotiating, or “battering” for desired behaviors or levels of performance. c. Transformational Leaders: strive to raise employees’ level of commitment and foster trust and motivation....