* What are the legal requirements? * Didn’t break any laws, related to him applying company funds towards personal use even though his act was solely beneficial to himself alone. What are the ethical duties? * Maintain price-competitive markets will ensure that scares resources are used to optimally satisfy consumer needs. * Pareto Optimality wasn’t obtained because maximum benefits of most wanted goods and services produced at minimum cost of least wanted resources.
One of my main takeaways from this topic is that money isn’t the best motivator. According to Mayo’s Hawthorne effect, employees feel more motivated when their efforts are recognized, and this can be achieved through bonuses for example. However, this can increase individualism as employees will focus on outperforming their peers. Intrinsic motivation helps create loyal employees who are more satisfied on a personal level. An example of this could be social security benefits.
Our society views high self-esteem as a good thing. Cockiness and smugness are considered healthy practices of good self-esteem. Lauren Slater believes that low self-esteem should not be associated with bad outcomes in life, nor should it be considered a cause of poor performance. Nicholas Emler of the London School of Economics is one of the people that Lauren Slater consulted with. In “Trouble with Self-Esteem” Nicholas Emler states ''There is absolutely no evidence that low self-esteem is particularly harmful”.
The main similarity that both articles highlight is the topic of morals. “What is morally correct?” I can imagine if they could sit down to talk about their work they would come to a common ground in their beliefs. Steve Buist’s article highlights the unethical behavior between researchers and companies that fund researches, and how these behaviors can be improved. “Improving the transparency around the financial relationships between researchers and companies is one way to deal with the potential conflicts of interest that can arise” (Buist, S., 2012). One such example is the “most reputable scientific journals, such as the New England Journal of Medicine, now require the authors of scientific papers to make detailed disclosure of their commercial financial relationships as a prerequisite for publication” (Buist, S., 2012).
Fayol vs Mintzberg, who is right? The theoretical models of management presented by Henri Fayol and Henry Mintzberg respectively, bear clear and striking differences in how they explain the “changing nature of management and leadership”(Brooks, 2009). To argue whether the image displayed by Fayol is superior to that of Mintzberg I will examine the strengths and weaknesses of the differing models and compare, as well as with the opinions of other theorists. This will allow me to conclude which image is superior and in what senses the descriptions of management established by Mintzberg are ineffective. In this essay I will argue that while it is clear that the concepts of Fayol have been largely superseded by modern descriptive views such as those of Mintzberg and Kotter, he laid out the foundations so to speak (remove this) that allowed modern thinkers to develop their theories in greater detail.
The company at hat served the public best would be favored in a competitive situation C. My opinion is that there should be a balance between competition and government involvement. A competitive situation would keep utility employees striving to satisfy the needs of their customer. Without competition some employees could become indifferent to customer satisfaction as the customer can not go anywhere else. Government involvement would be important by setting standards that must be adhered to by competing companies as far as level of service and also ensure that the competing companies can not fix pricing to consumers and artificially control what the consumer will
Arthur may not be the best at managing others, which could make presentations or working on teams difficult. Arthur would not be the best choice to manage other workers, but he is an asset to the company because he has a positive attitude and likes his job. Arthur is a valued employee, and this positive state of mind could be good for morale. “Breaking down organizational goals into smaller more detailed task geared specifically toward the strength of an employee is an example of Management by Objection or the goal setting theory” (Pearson Education, Inc, 2011). As manager, I have decided that Arthur will serve the company well working in a position that does not require him to be in charge of any projects.
Collusive behavior in the work place means supporting or allowing the unethical or incompetent actions done by the leaders, managers or supervisors. Certain type of collusive behavior in the work place do exist because employees want to gain appreciation or trust by managers through doing so. If the leaders or supervisors appreciate their support, the employees might get a promotion. What’s more, by behaving collusively to the managers, employees could also be in a better relationship than the others who do not, which means “potential benefit” to themselves in their own eyes. However, what I want to say is that if the company behave unethically as a whole, it may lose its consumer trust and undermine the firm’s reputation, then how can an employee realize his personal value?
The government, and much of the nation, believed in the principles of laissez-faire economics, which dictated that the economic market should run freely without government interference. According to the theory, free, unregulated markets led to competition, which in turn led to fair prices of goods for consumers. The government did not want to interfere in the free market. Any concern for the plight of the poor during this time was minimized by the tenets of social Darwinism, which became popular in the late 1800s. Social Darwinism adapted Charles Darwin’s theory of evolution, “survival of the fittest,” to the business world, arguing that competition was necessary to foster the healthiest economy (just as competition in the natural world was necessary to foster the healthiest, or fittest, species).
As John Verdant introduces two families with similar economic conditions but completely different values, it is not difficult to find out that the family believes having more actually harms themselves (Verdant, 152-155). I believe people who are less obsessed with consumerism would have a better living standards if they were living in a society with scarce materials. However, those people who are obsessed with consumerism would be willing to conduct some unethical things in order to gain self-interested benefits. On the other hand, nowadays thrift is a way of showing a person is well-educated and money-conscious. In fact thrift is highly valued in many Asian countries’ value systems.