BUS 682 FINAL REVIEW

Interactive

Companies actively engage stakeholders in an ongoing relationship of mutual respect, openness, and trust

Inactive

Companies ignore stakeholder concerns

Proactive

Companies try to anticipate stakeholder concerns

The Corporation

-Disregard for the feelings of other people -The incapacity to maintain human relationships -The reckless disregard for the safety of others -The deceitfulness (continual lying to deceive for profit) -The incapacity to experience guilt -The failure to conform to social norms and respect the law. https://anticorruptionsociety.com/international/the-corporation-film-clips/

Employee Rights

1. Right to organize and Bargain Collectively 2. Right to safe and healthy workplace 3. The right to job security 4. Right to privacy in the workplace 5. Right to whistle blow

Rights of Consumers

1. The right to be informed 2. The right to safety 3. The right to choose 4. The right to be heard 5. The right to privacy

4 conditions must be satisfied to justify whistleblowing

1. organization is doing something that seriously harm others. 2. Employee has tried and failed to resolve problem internally. 3. Public reporting will stop and prevent harm. 4. Hard is serious enough to justify cost of whistleblowing.

Reactive

Companies act only when forced to do so, and then in a defensive manner

4. The right to be heard

To sue if necessary

Corporate Responsibility

A corporation should act in a way that enhances society and its inhabitants and be held accountable for any of its actions that affect people, their communities, and their environment t

Elena Roldan

Account Executive at Yelp

Global Corporate Citizenship

An organization's commitment to social and environmental responsibility put into practice worldwide.

Restoring the Balance of Earth's Carrying Capacity

Business: technological innovation Society: changing patterns of consumption Government: taxes on environmentally harmful products or activities.

Jake Van Vorhis

COO and Head of Growth, Marketing and Sustainable Innovation Aficionado

Measuring Responsibility

Corporate social reporting social audit

Sustainable Development

Development that "meets the needs of the present without compromising the ability of future generations to meet their own need."

Corporate Philanthropy

Donations to non-profit organizations. -Receives tax deductions in the US. -Most philanthropy is strategic: both the company and society benefit.

5. Right to whistle blow

Employee reports to the media, government, or high level company officials when he/she believes employer has done something that is wrong or harmful to the public.

Spectrum of Responsibility

Global Corporate Citizenship Corporate Sustainability Corporate Philanthropy

Stakeholder Analysis 2: Map & Label

Graphical representation of the relationship of stakeholders for a particular firm. 1.Enables managers to see quickly who the stakeholders are 2. Help managers determine stakeholder salience

Stakeholder Engagement

Inactive Reactive Proactive Interactive

1. Right to organize and bargain collectively

Labor unions, negotiate wages, working conditions

Joshua Holm

MBA

Different Kinds of Stakeholders

Market stakeholders Nonmarket stakeholders Internal stakeholders External stakeholders Primary stakeholders Secondary stakeholders

Brittany Njissang

Marketing Automation Manager at Square

Stakeholder Analysis 3: Salience

Power Legitimacy Urgency Relevance

Globalization

Refers to the increasing movement of goods, services, and capital across national borders -The spread of technology, culture, and politics.

Strong Ties

Relationships between members in the same group or community. Used frequently but recirculate ideas.

Weak Ties

Relationships between members of different groups or communities. Used infrequently but lead to a diversity of ideas.

3. The right to choose

To promote consumer choice and to promote competitive pricing.

2. The right to safety

To protect consumers against possible hazards

5. The right to privacy

To protect privacy

1. The right to be informed

To provide consumers with better information when making purchases

Legitimacy

What are each stakeholder's interests? Which of those interests are most legitimate?

Stakeholder Analysis 1: Issues

What are the main issues managers at this firm have to deal with at this time?

Urgency

Which interests are most urgent and why?

Relevance

Which stakeholder interests are most relevant and why?

Business Ethics

a conception of right or wrong conduct applied to business practices

Corporate Sustainability

company which operates consistently with principles of sustainable development (meeting the needs of the present without compromising the ability of future generations to meet their own needs) It's about FAIRNESS.

Stakeholder

composed of individuals and groups in society

Salience

something that stands out from a background, is seen as important, or draws attention.

social capital

is an investment in social relations with expected returns

Innovation

is the commericalization of invention

3. The right to job security

job contacts, vesting plans

2. Right to safe and healthy workplace

job free from recognized hazards that are causing or likely to cause death or serious physical harm

Structural social capital

measures an individual's weak and strong ties to others within the system

4. Right to privacy in the workplace

primarily protects an individual's personal life from intrusion by employer

Triple Bottom Line

reports environmental and social impacts in addition to traditional financial results to stakeholders.

Return on social investment

the benefit that accrue to business and society.

technology

the practical application of science and knowledge to commerce and organizations

Transparency reports

when companies clearly and openly report the triple bottom line to stakeholders

Power

which stakeholders are most powerful? Why? Which stakeholders are likely to form coalitions with each other?