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?