MGMT 1040 Chapter Notes -Pareto Efficiency, Distributive Justice

• School: York University
• Department: Management
• Course: MGMT 1040
• Professor: William(bill) Woof

Document Summary

Chapter 1- the nature of moral problems in management. Individuals/groups in a global economy come from different cultural and religious traditions and live in different economic/social situations. They are the ways we expect to act and the ways in which we expect others to act in given situations: personal beliefs: our expectations of thought. They are the ways we expect to think and the ways in which we expect others to think about given situations: personal values: our priorities among goals, norms and beliefs. It is strongly recommended that you state the moral problem in the form of an extended question that is mus less threatning and far more considerate than a statement. More is produced efficiently, as expressed in factor market: the analytical method for calculating economic outcomes (pareto. Optimality theory) is valid as long as three conditions are met: all markets must be competitive, all customers and all suppliers must be informed, all costs must be included.