GMS 200 Lecture Notes - Lecture 3: United Nations Global Compact, Lateral Thinking, Ethical Decision

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Deborah De Lange

Document Summary

You hold your ground in face of criticism. Lateral thinking diverse ways to solve problems. Transfer thinking from one setting to others. Objective, willing to step back and question assumptions. Diversity more information, knowledge, expertise that it non-homogeneous. Ethical decisions: how would i feel if my family found out about this decision, this affects your reputation in the industry. Ethical decision principles: utility satisfy all stakeholders, rights respe(cid:272)t everyo(cid:374)e"s rights and duties, justice un principles, caring consistent with your responsibility (global compact)(universal declaration of. Inputs intelligence information from stakeholders and external environment. Globalization: the process of growing interdependence among elements of the global economy. Exporting: selling locally made products in foreign markets. Importing: buying foreign-made products and selling them in domestic markets. Licensing: foreign firms pay a fee for rights to make or sell another co(cid:373)pa(cid:374)y"s products in a specified region. Franchising: foreig(cid:374) fir(cid:373) (cid:271)uys the rights to use a(cid:374)other"s (cid:374)a(cid:373)e a(cid:374)d operati(cid:374)g methods in its home country.