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Learning Objectives

Learn about the roles of stakeholders in a corporation, issues in corporate governance, and the importance of business ethics. Explore stakeholder impact analysis, agency theory, governance mechanisms, and ethical issues in strategy. Discover ways to promote ethical behavior through strong corporate governance and codes of ethics.

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Learning Objectives

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Presentation Transcript

  1. Learning Objectives • To know what stakeholders are and their roles in the affairs of a corporation. • To know the issues, problems, and possible remedies to corporate governance issues. • To know the purposes of business ethics.

  2. Stakeholders and Corporate Performance • Stakeholder impact analysis • The unique role of stockholders • Profit, growth, and stakeholder claims

  3. Agency Theory • Principal-agent relationships • The agency problem

  4. Governance Mechanisms • The board of directors • Stock-based compensation • Financial statements & auditors • The takeover constraint • Governance mechanisms inside a company

  5. Ethics and Strategy • Ethical issues in strategy • Self-dealing • Information manipulation • Anticompetitive behavior • Opportunistic exploitation • Substandard working conditions • Environmental problems • Corruption • The roots of unethical behavior

  6. Ethics and Strategy (cont) • Behaving Ethically • Hiring and promotion • Organizational culture and leadership • Decision-making processes • Ethics officers • Strong corporate governance • Codes of ethics • Ethics officers

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