Selected Top 10 Management Practices (Class Responses)Decision making at appropriate levelAvailable resources to be utilized judiciallyTaking risks to attain the goals (risk management)Quality managementTime managementCost managementEthical standardsExecution of plans to the extent possibleFinancial management with internal controlsMaking everyone part of the decision

Strategic Partnership ActEnhanced partnership act with Pakistan

Improve the GOP’s capacity to address the country’s most critical infrastructure needs

Help the Pakistani govt. address basic needs and provide improved economic opportunities in areas most vulnerable to extremism

Strengthen Pakistan’s capacity to pursue economic and political reforms that reinforce stability

Specific programs, projects and activitiesHigh impact, high visibility infrastructure programs

($ 3.5 billion)Focused humanitarian and social services ( $ 2 billion)Increased access to and Quality of education and

health ( $ 1.5 billion)Government capacity development ( $ 2 billion)

Few Interesting Social Science(s) FindingsPhysical contact improves team performance

How frequently members of NBA teams touched each other (Kraus and Huang)

Strong relationship between day light saving time and lower SAT scores (Gaski and Sagarin)

Do gun shows increase crime rates? (Duggan)Self control consumes glucose in the brain? ( Dewall)

People that consumed glucose beverage behaved less aggressively than subjects who didn’t

Extrovert leaders perform best when their employees behave passively, the effects are reversed when employees are pro-active (Grant)

Interesting research findings (continued)People remember information that is hard to master

(Connor)The more people doubt their own beliefs , the more

paradoxically , they are inclined to proselytize in favor of them (Gal and Rucker)

Male chess players pursue riskier strategies when they are facing attractive female opponents , even though the risk taking didn’t improve their performance( Dreber and Gerdez)

Corporate Governance Model

Environmental ScanningExternal ( general forces and industry analysis)Internal ( culture and resources)

Strategy FormulationMission, Objectives, Strategies and Policies

Strategy ImplementationPrograms, Budgets, Procedures

Evaluation and ControlPerformance and Actual resutls

Corporation is a mechanism established to allow different parties to contribute capital, expertise and labor for their mutual benefit

Shareholders elect the directorsDirectors represent shareholders , establish basic

policies, approve all the decisions-they oversee the top management

Setting corporate strategy, overall direction and vision

Hiring of CEO and top management, approval of use of resources and care for shareholders

Role and Responsibilities of the Board of Directors

Monitor- through committeesEvaluate and Influence-Management proposals and

decisionsInitiate and Determine-Specify strategy optionsPhantom- Never knowsRubber stamp-permits all the decisionsMinimal review-formally reviewsNominal participation-limited degreeActive participation-Approve and QuestionsCatalyst-Takes the leading role

Involvement of the Board in Strategic Management

Agency theory Vs Stewardship theory

Agency theory Top management have a significant degree of ownership in

the firm Top management have a strong financial stake in its long

term performance A positive relationship between corporate performance and

the amount of stock owned by the directorsStewardship theory

Executive to be more motivated than their self interest Higher order needs-achievements and self-actualization Top management is invested in company’s long term success

than short term-shareholders interests

Carroll’s Responsibilities of BusinessEconomic

Produce goods and services of valueLegal

Obey government lawsEthical

Follow generally held beliefs about behavior in a societyDiscretionary

Voluntary obligations- philanthropic contributions, training of unemployed, providing day care centers

Kohlberg’s Levels of Moral DevelopmentA progresses through three levels of moral

developmentThe preconvention level

Concern for selfThe conventional level

Consideration for society’s laws and normsThe principled level

Adherence to an internal moral codeUniversal values and principles