tailieunhanh - Essentials of Strategic Management 5th Edition_3

Tham khảo tài liệu 'essentials of strategic management 5th edition_3', kinh doanh - tiếp thị, quản trị kinh doanh phục vụ nhu cầu học tập, nghiên cứu và làm việc hiệu quả | The concept that business must be socially responsible sounds appealing until one asks Responsible to whom A corporation s task environment includes a large number of groups with interest in the activities of a business organization. These groups are called stakeholders because they are groups that afect or are affected by the achievement of the frm s objectives. Should a corporation be responsible only to some of these groups or does business have an equal responsibility to all of them In any one strategic decision the interests of one stakeholder group can conflict with another. For example a business frm s decision to use only recycled materials in its manulàcturing process may have a positive effect on environmental groups but a negative effect on shareholder dividends. Which group s interests should have priority To answer this question the corporation may need to craft an enterprise strategy an overarching strategy that explicitly articulates the firm s ethical relationship with its stakeholders. This requires not only that management clearly state the firm s key ethical values but also understand its societal context and undertakes stakeholder analysis to identify the concerns and abilities of each One approach to stakeholder analysis is to frst categorize stakeholders into primary stakeholders those who have a direct connection with the corporation and sufficient power to directly affect corporate activities and secondary stakeholders those who have only an indirect stake in the corporation but who are also affected by corporate activities. Then estimate the effect on each stakeholder group from any particular strategic alternative. What seems at first to be the best decision because it appears to be the most profitable may actually result in the worst set of consequences to the corporation. What is the Role of Ethics in Decision Making Ethics is delined as the consensually accepted standards of behavior for an occupation trade or profession.