Responsible Management and Strategic Foresight Quiz
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Questions and Answers

Which criterion is crucial for evaluating the output in responsible management?

  • The effectiveness of stakeholder engagement
  • The amount of resources utilized
  • The value created or harm avoided in achieving goals (correct)
  • The efficiency of operational processes

In which of the following competencies is social-ecological thinking categorized?

  • Acting
  • Interacting
  • Thinking (correct)
  • Knowledge

What is an essential aspect of systems analysis?

  • Focusing solely on individual performance metrics
  • Establishing rigid boundaries around elements
  • Identifying the most efficient resource allocation
  • Understanding the interconnectedness of elements within a perceived whole (correct)

Where do efficiency and effectiveness play the most significant role in management?

<p>Throughout the performance evaluation phase (A)</p> Signup and view all the answers

What is suggested to be key in responsible management?

<p>Focusing on all stakeholders in decision-making processes (C)</p> Signup and view all the answers

What is the primary aim of gathering foreknowledge in strategic foresight?

<p>To anticipate potential changes and risks (A)</p> Signup and view all the answers

In the context of strategic foresight, what does broadening refer to?

<p>Expanding the understanding across thematic boundaries (D)</p> Signup and view all the answers

How does enhancing mindsets contribute to strategic foresight?

<p>By enabling decision-makers to formulate improved strategies (A)</p> Signup and view all the answers

What is a key benefit of the gathering level of strategic foresight?

<p>It provides a systematic approach to understanding risks (B)</p> Signup and view all the answers

Which aspect of strategic foresight directly enhances reflexive learning among different stakeholders?

<p>Broadening strategy focus (C)</p> Signup and view all the answers

What is a consequence of rising public expectations according to the content?

<p>A gap between societal expectations and reality (A)</p> Signup and view all the answers

Which of the following best describes the term 'entitlement mentality' as referenced in the content?

<p>A belief that one deserves certain privileges regardless of effort (B)</p> Signup and view all the answers

In the context of the social environment, how is awareness primarily being increased?

<p>Via television, movies, and the Internet (D)</p> Signup and view all the answers

What philosophical concept is related to perceiving oneself as a victim within societal constructs?

<p>Victimization philosophy (D)</p> Signup and view all the answers

The increase in the number of high school graduates in America is likely to lead to what societal change?

<p>A rise in public awareness and expectations (D)</p> Signup and view all the answers

What was the result of the Federal Trade Commission's lawsuit against Volkswagen?

<p>Volkswagen was fined for falsely advertising environmentally friendly cars. (C)</p> Signup and view all the answers

Which of the following levels does not belong to the Levels and Spheres of Corporate Power framework?

<p>Business Level (B)</p> Signup and view all the answers

What was the main issue highlighted regarding society's expectations and business's actual social performance?

<p>Discrepancies between expected and actual performance. (A)</p> Signup and view all the answers

What characterizes the elements in the social contract between business and society?

<p>It represents a two-way shared understanding of expectations. (B)</p> Signup and view all the answers

In the context of stakeholder theory, what does the term 'stake' refer to?

<p>An interest or share in an undertaking. (B)</p> Signup and view all the answers

Flashcards

Gathering Foreknowledge

Strategic foresight involves gathering knowledge from diverse sources regarding emerging trends, potential issues, and risks. This helps identify areas that demand attention and strategic responses.

Broadening Strategy Focus

Strategic foresight encourages collaboration and exchange of perspectives across various departments and stakeholder groups to understand the broad societal impact and needs.

Enhancing Mindsets of Decision-Makers

Strategic foresight aims to develop informed and well-prepared visions and strategies by helping decision-makers adopt a forward-thinking mindset

How does strategic foresight contribute to decision-making?

Strategic foresight helps organizations gather knowledge of trends, emerging issues, and risks, leading to proactive decision-making.

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How does Strategic Foresight Broaden Strategy Focus?

Strategic foresight encourages a holistic understanding of societal needs and impacts by encouraging collaboration and mutual learning across departments and stakeholder groups.

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Victimization Philosophy

A philosophy where people believe they are entitled to certain benefits, regardless of their actions or contributions.

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Revolution of Rising Expectations

A growing expectation that society should provide better living conditions and opportunities, leading to dissatisfaction when realities fall short.

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Entitlement Mentality

The belief that individuals are entitled to specific rights and benefits due to their status in society.

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Growing Public Awareness

The increased access to information and awareness through various media, leading to a greater understanding of social issues.

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Affluence and Education

The rising standards of living and access to education lead to higher expectations of institutions and societal improvement.

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What is a system?

A recognized whole, comprised of interconnected components. These parts work together to create a greater structure.

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What is systems analysis?

A systematic process of analyzing how parts of a system interact and influence each other. It helps understand the cause and effect relationships within a system.

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What are forces and feedback mechanisms in a system?

Forces or influences that affect a system. These forces can stabilize, destabilize, or reinforce the system's behavior.

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What is a boundary of a system?

A boundary separates the components within a system from its external environment. It defines what is inside the system and what is outside.

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What is responsible management?

Responsible management considers the value created and harm avoided in achieving goals, focusing on all stakeholders and their needs.

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Corporate Social Responsibility

The idea that businesses should contribute positively to society beyond just making profits. It focuses on how businesses should consider the impact of their actions on various groups, such as employees, customers, and the environment. It's about acting ethically and taking responsibility for social issues.

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Levels and Spheres of Corporate Power

This framework helps visualize how various levels and spheres of power impact businesses. The "Levels" represent how much power a company possesses: Single executive, a single firm, several firms, or the entire business system. The "Spheres" represent different areas influenced by that power, like economic, social, environmental, etc.

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Social Contract

An agreement between businesses and society. Businesses agree to operate ethically and responsibly, while society allows them to operate and profit. This agreement is based on shared understandings and expectations, often enforced by laws and regulations.

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Stakeholder Theory

The idea that companies should consider the interests of all groups affected by their decisions, including employees, customers, suppliers, investors, and the community. It recognizes that companies have a responsibility to these stakeholders beyond just making profits.

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Society’s Expectations Versus Business’ Actual Social Performance

A gap between what society expects from businesses in terms of social responsibility and how businesses actually perform. This gap may highlight areas where businesses need to improve their social performance to meet societal expectations.

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Study Notes

CSR Beyond the Mainstream - Session 1

  • The session is about managing responsibly; the basics.
  • The presenter is Dr. Ivonne Chirino-Klevans.
  • The session is part of a larger course on CSR.

Managing Responsibly: The Basics

  • Part I: Defining managerial success and competencies in a systemic context.
  • Activity: World Café
  • Part II: CSR management in practice: introduction.
  • Key terms: managerial competencies, responsible leading, social-ecological systems, sphere of influence, stakeholders, planetary boundaries, corporate sustainability.

Additional Information

  • Monsanto was ordered to pay $289 million for a weedkiller lawsuit.

  • A landmark lawsuit claims Monsanto hid cancer danger of weedkiller.

  • Other scandals mentioned include Johnson and Johnson (baby power damages), Enron, WorldCom, and Tyco.

  • Business and Society:

    • Business is the collection of private, commercially oriented organizations, varying in size.
    • Society includes a community, nation or a broad group of people with common activities and interests.
    • Macroenvironment is the encompassing societal context an organization resides in.

  • Some business issues under scrutiny:

    • Corporate governance
    • Executive compensation
    • Backdated stock options
    • Use of undocumented immigrants
    • High fuel prices
    • Minimum wage
    • Safety of SUVs
    • Distractions of cell phones
    • Healthiness of fast food

  • The question is whether businesses have been ethically and socially responsible.

  • Various learning pathways are used in the course: Know, Think, Act, Interact.

  • Visual cues are used for different concepts and lecture material; one icon denotes concepts found only in lectures

  • Elements in the social contract - laws and regulations, shared understandings between business and stakeholder groups.

  • Origins of the Stakeholder Concept: Stake is an interest or share in an undertaking; can be categorized as interest, a right or ownership.

  • Stakeholder management: ensuring all parties/individuals are satisfied, informed, and heard.

  • Types of systems:

    • Social systems: multiple actors interacting within shared culture.
    • Economic systems: institutions for production, income, and consumption.
    • Environmental/ecological systems: relationship between life and abiotic components.

  • Sustainability: development that satisfies current needs without compromising future needs

  • Corporate Sustainability Versions:

    • Version 1.0: Social, Environmental, Economic pillars are separate
    • Version 2.0: Overlapping circles of Social, Economic, Environmental interconnected
    • Version 3.0: Nested circles where Economies, Human societies, and Earth's life-support systems are contained within one another.

  • Social-ecological systems: interconnected social and ecological systems

  • Pluralistic Society: Prevents power concentration; maximizes freedom and action; creates diverse loyalties to avoid centralization of power.

  • Business and stakeholder relationships: various stakeholders like the public, environmental groups, local/state/federal government and more (owners, employees, consumers, unions, special intrest groups, media, etc)

  • Competencies: Futures literacy, Stakeholder Innovation, Ethical and Responsible leadership

  • Foresight: future-oriented vision that supports strategic decision making.

  • Activity 1: World Café, discussion about responsibilities of managers in a challenging situation/dilemma.

  • Activity 2: Group Formation, discussion rounds to develop actions on the dilemma scenario

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Related Documents

CSR Beyond the Mainstream Lecture PDF

Description

Test your knowledge on the principles of responsible management and the role of strategic foresight. This quiz evaluates key concepts such as social-ecological thinking, systems analysis, and the impact of public expectations. Dive into the essential competencies and benefits associated with effective management practices.

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