Chapter 1: Management in Context Flashcards
What is a profession?
type of specialized occupation in service of society and the world.
What is professional management?
management practice carried out with professional conduct and in pursuit of goals serving society and the world/planet.
What is professional practice?
practicing and practices that serve society and the word in professional conduct. Codes of professional conduct put forward practice that professionals should and shouldn’t engage in.
What are management practices?
Activities that management practicioners customarily engage in
What is management innovation?
invention and implementation of a management practice that breaks with normal practices.
What are the realities of unprofessional management practices?
- Practices of continuous company growth; created economic system focused on growth over natural boundaries
- Consumerist marketing; created unnecessary wants leading to overproduction
- Take-make-waste; productions that led to waste
- Quarterly reporting; focusing on short term and not long-term practices
- Exploiting resources; leading to collapsing ecosystems
- Shareholder-value-based management; practices give prioritizing owners’ interests over other stakeholders
- High-level pay at unprecedented levels; creating economic inequality
- Paying women less than men; for the same job
- Strategic human resource management; only wanting the best employees
- Globalized supply chain management; allowing local industries to collapse and contributing to climate change
- Financial costs and value; ignoring social and environmental value and costs.
What is unprofessional management practice?
managerial practice not conducted in the service of society and the planet or without professional conduct.
What are transitions?
revolutionary systemic changes emerging from the co-evolution of economic, technological, social and ecological changes. We are living in a transitory world right now.
What is global footprint?
way of measuring how much of our planet’s resources we are using
- 1 = using exactly the amount of resources that can be replaced by earth
- >1 = using too much
- <1 = using less than the earth can produce.
What are planetary boundaries?
ecological thresholds, which if overstepped threaten humanity’s existence.
What are the four drivers of professional management?
- Main stakeholders like customers, employees and society;
- Business opportunities in professional management in service of society (considered good business as it opens up new markets)
- In the digital and social media world it is impossible to hide unprofessional behaviour: brand protection
- Responsible management practices are increasingly institutionalized.
What is institutional work?
work realized to maintain the current situation, to change it, or to create an entirely new normal. Three types of institutional work:
1. Work to change what is institutionalized as normal
2. Work to maintain the old normal
3. Work to create new institutions, an entirely new normal.
What are the three layers of managerial transitional influence?
- Managers have the power to change the business in their sphere of influence.
- Once business has successfully transformed, industry peers will start to do the same
- While the economy is changing, the impact on society and the economic systems becomes visible.
What is a business case?
Business opportunities arising from ethical, responsible and sustainable management.
What are the inhibitors of professional management?
- Friedman argument: only managerial responsibility is to make a profit.
- There are tensions and paradoxes between old-world and new-world management: contradiction between two goals of business
- Possibility of greenwashing (creating misleading impressions of social, environmental and ethical performance)
- Operational inhibitors: hard to identify business case, accommodating opposing strategic priorities.
