History ,Globalization, and Values-Based Management & Leadership|Management paper
Success in management requires learning as fast as the world is changing. Warren Bennis
The session begins with a brief overview of the history of management theory as well as some of its current topics.
The focus of study for this session is on value-based management, which focuses attention at every level on the intended beneficiaries of an organization. In for-profit organizations, the principle intended beneficiaries are the shareholders, and the underlying goal of the organization is wealth-maximization. In B-Corporations and Not-For-Profits, the intended beneficiary may be a stakeholder group or a group otherwise unrelated to the firm.
In B-Corporations, value-based management focuses on satisfactory shareholder returns and improvements in the status of the intended beneficiaries. In this environment, there are inherent conflicts between current earnings and long-term payoffs, between maintaining profit margins and maintaining market share, between providing a “satisfactory” return and making progress toward achieving a social purpose. Managers need clear decision criteria. “Properly executed, it is an approach to management that aligns a company’s overall aspirations, analytical techniques, and management processes to focus management decision making on the key drivers of value” (Koller, 1994).
Readings:
Skim chapters 1 & 2 of the text and read chapter 3.
Pedersen, E. (2010). Modeling CSR: How managers understand the responsibilities of business towards society. Journal of Business Ethics, 91(2), 155-166.
Also of Interest:
Koller, T. (1994). Valuation: Measuring and managing the value of companies, 2nd edition. Hoboken, NJ; John Wiley & Sons.
Quality Management Principles. ISO 9000 & 9001. Available at: http://www.iso.org/iso/pub100080.pdf
Assignment:
Read the case study on the Chambourcin Wine Company of Virginia, a to-be-formed B-Corporation.
Over the course of the term, you will be asked to complete the following sections of the business plan:
General Business Information (Week 1)
Strategic Plan (Week 3)
Management Plan (Week 5)
An example of a business plan for a winery can be found at: https://www.wesst.org/wp-content/uploads/2016/06/virginias-winery-business-plan-may-14-2009.pdf
Assignment 1: The General Business Information section of the business plan is due. (Assignment Tab)
