Do you think the problems in the case study can be solved with business solutions and strategies? Why or why not? https://www.youtube.com/watch?v=AT-E_eMiwgkLinks to a
1. watch video
2. Answer question
A. Do you think the problems in the case study can be solved with business solutions and strategies? Why or why not?
https://www.youtube.com/watch?v=AT-E_eMiwgkLinks to an external site.
No AI, Chegg, etc
STRATEGIC MANAGEMENT
Chapter 2: corporate governance
What is corporate governance?
The corporation is fundamentally governed by the board of directors overseeing top management, with the concurrence of the shareholder. The term corporate governance refers to the relationship among these three groups in determining the direction and performance of the corporation.
Board of directors
Board of director responsibilities, listed in order of importance:
1. Setting corporate strategy, overall direction, mission, or vision
2. Hiring and firing the CEO and top management
3. Controlling, monitoring, or supervising top management
4. Reviewing and approving the use of resources
5. Caring for shareholder interests
Role of the Board in Strategic Management
Monitor: By acting through its committees, a board can keep abreast of developments inside and outside the corporation, bringing to management’s attention developments it might have overlooked. A board should at the minimum carry out this task.
Evaluate and influence: A board can examine management’s proposals, decisions, and actions; agree or disagree with them; give advice and offer suggestions; and outline alternatives. More active boards perform this task in addition to monitoring.
Initiate and determine: A board can delineate a corporation’s mission and specify strategic options to its management. Only the most active boards take on this task in addition to the two previous ones.
Top management
Top management responsibilities, especially those of the CEO, involve getting things accomplished through and with others in order to meet the corporate objectives.
1. The CEO articulates a strategic vision for the corporation
2. The CEO presents a role for others to identify with and to follow
3. The CEO communicates high performance standards and also shows confidence in the followers’ abilities to meet these standard
Debate: Legal management vs. Ethical Management
Is It Acceptable to Promote a Socially Irresponsible but Legal Product to Stakeholders?
When you think of cheating, you may think of irresponsible behavior in the classroom. But Noel Biderman created a company called Avid Life Media (based in Toronto) that is dedicated to another form of cheating.
Avid Life Media is owner of six website brands, including Cougar Life and Hot or Not. One of its more controversial brands is Ashley Madison, the motto of which is "Life is Short. Have an Affair." The website has more than 8.5 million members. The company encourages married men and women to spend less than a minute to register on the largest website to openly promote infidelity. The company employs hundreds of programmers, designers, and marketers and has conducted a private placement for investors. While many stakeholders would say the purpose of the website is wrong, there is nothing illegal about this business. But the fact that the website helps people engage in cheating on their spouses including providing an email address to which one's spouse would never have access—has many people concerned. They consider facilitating secrecy for socially questionable conduct to be wrong.
Team 1: There is nothing wrong in providing a legal service many people desire.
Team 2: From a stakeholder perspective, it is wrong to provide socially irresponsible services.
Remaining Teams: Question & Judge
Ashley Madison What Happened?
Fines
Lawsuits
Investigations
Relationships destroyed
Site Closes – Company rebrands
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