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This is a summary of all the lecture notes for the course People in Business and Society.
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PEOPLE IN BUSINESS ANDSOCIETY
Summary of content covered in lectures
,People in Business and Society
2
,People in Business and Society
Table of Contents
Lecture intro 1..........................................................................4
Lecture intro 2 – introduction to culture.....................................5
The importance of understanding cultural differences:........................................................................6
Culture evolves over time......................................................................................................................6
Cultural theories:...................................................................................................................................6
Definition of culture by Schein (2004):..............................................................................................6
Value orientation theory (Hills, 2002):..............................................................................................7
Hostede’s (2011) dimensions of culture:...........................................................................................7
Individualism vs Collectivism:................................................................................................................7
Masculinity vs Femininity:.....................................................................................................................8
Short-term orientation vs. long-term orientation..................................................................................9
Indulgence vs Restraint:.......................................................................................................................10
Lecture 1.1 – Sequential move games.......................................10
Nash equilibrium:................................................................................................................................10
Lecture 1.2 – Social Identity, cross-cultural communication,
promise, commitment..............................................................12
Commitment devices:..........................................................................................................................13
NVC, Quality of connection:.................................................................................................................13
NVC, how to hear your needs:.............................................................................................................13
Rosenberg’s model:.............................................................................................................................14
Lecture 2.1 – Simultaneous move games (cooperation,
coordination)..........................................................................14
Simultaneous move games:.................................................................................................................15
Nash equilibrium:................................................................................................................................16
Mixing strategies:................................................................................................................................17
Lecture 2.2 – Teamwork, Communication, Punishment, Social
Norm...................................................................................... 17
Three coping strategies:..................................................................................................................20
Model of what predicts communication in diverse teams:..................................................................21
Lecture 3.1 – Games with incomplete information......................21
Asymmetric information......................................................................................................................22
Moral Hazard and Adverse Selection...................................................................................................22
Moral Hazard:.................................................................................................................................22
Adverse selection:...........................................................................................................................25
Lecture 3.2 – Acquisition of information (screening, signalling). .26
Moral Hazard:......................................................................................................................................26
Contract with fixed price/wage.......................................................................................................26
How to prevent moral hazard.........................................................................................................26
Adverse selection:................................................................................................................................27
How to prevent adverse selection:..................................................................................................28
Lecture 4.1 – Hiring Diversity, Incentives..................................29
Diversity among managers..................................................................................................................29
Educational and Managerial Landscape.........................................................................................29
Why increasing diversity is important.............................................................................................29
3
, People in Business and Society
Why is testing diversity initiatives important?................................................................................29
Attracting diverse applicants...............................................................................................................29
Increasing workplace diversity: A 2018 study......................................................................................30
Conclusion:......................................................................................................................................30
(Cross-Cultural) Communication in Negotiation..................................................................................30
Conflicts and negotiations...............................................................................................................30
Two negotiation strategies:............................................................................................................30
Relational model of negotiation......................................................................................................31
Honour model of negotiation..........................................................................................................31
Lecture 4.2 – Gender Diversity, Incentives................................32
Monetary Incentives............................................................................................................................32
How to prevent moral hazard.........................................................................................................32
Labour Market and Gender.................................................................................................................32
Lecture intro 1
Organizations
- Entities in which people interact to reach economic goals
4
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