01c BUS 444 Chap 1

Governance the relationship among various

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Unformatted text preview: suppliers, customers, and alliance partners 1-21 Corporate Governance and Stakeholder Management • Corporate governance The relationship among various participants in determining the direction and performance of corporations 1-22 Corporate Governance and Stakeholder Management (cont.) • Board of Directors Elected representatives of the owners Ensure interests and motives of management are aligned with those of the owners 1-23 Corporate Governance Three mechanisms ensure effective corporate governance: 1. An effective and engaged board of directors 2. Shared activism 3. Proper managerial rewards and incentives 1-24 Stakeholder Management • Zero sum view Stakeholders compete for attention and resources of the organization Gain of one is a loss to the other 1-25 Stakeholder Management • Stakeholder symbiosis view Stakeholders are dependent upon each other for their success and well-being Mutual benefits 1-26 Crowdsourcing • Crowdsourcing Tapping of the “latency of the online crowd” • Linux, Amazon, Wikipedia 1-27 Social Responsibility • Social responsibility The expectation that businesses or individuals will strive to improve the overall welfare of society Your Class Project should focus on social responsibility. 1-28 Social Responsibility • Triple bottom line Assessment of a company’s performance in financial, social, and environmental dimensions 1-29 Example: Social Responsibility • Starbucks Coffee Company defines CSR as: Conducting business in ways that produce social, envir...
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This note was uploaded on 03/05/2014 for the course BUS 444 taught by Professor Lynn during the Spring '11 term at Keuka.

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