战略管理11-公司治理与商业道德.pptVIP

Chapter Eleven Corporate Performance, Governance, and Business Ethics “There are worse things than  war; and all of them come with  defeat.” Stakeholders and the Enterprise Stakeholder Impact Analysis Identify stakeholders most critical to survival Usually the most important: Customers Employees Stockholders Agency Theory Principal-agent relationships Principal: person delegating authority Agent: person to whom authority is delegated The agency problem The Tradeoff Between Profitability and Revenue Growth Rates The Challenge for Principals Governance Mechanisms The Board of Directors Elected by stockholders Legally accountable Monitors corporate strategy decisions Authority to hire, fire, and compensate Ensures accuracy of audited financial statements Inside directors Outside directors How Options Skew the Bottom Line “It isn’t that they can’t see the  solution. It is that they can’t  see the problem.” Ethical Issues in Strategy Self-dealing (Enron, Computer Associates) Managers feather their nest with corporate monies Information manipulation (US’s tobacco) Distort or hide information to enhance competitive or personal situation Anticompetitive behavior (Sotheby and Christie) Actions aimed at harming actual or potential competitors Opportunistic exploitation (Boeing) Of other players in the value chain in which the firm is embedded Substandard working conditions (Nike) Underinvest in working conditions or pay below market wages Environmental degradation (Nigeria) Directly or indirectly take actions that result in environmental harm Corruption (Enron) Companies pay bribes to gain access to lucrative business contracts. The Roots of Unethical Behavior Personal ethics code: will have a profound influence on behavior as a businessperson Do not realize they are behaving unethically: by failing to ask the right questions Organization’s culture: de-emphasizes ethics and considers pri