managing for atakeholders.pptx
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1) The document discusses managing for stakeholders, which refers to allocating both value and decision making influence widely among primary stakeholders. Firms that do this are better able to understand stakeholders' utility functions. 2) A stakeholder utility function represents how a stakeholder's welfare is affected by a firm's actions. Understanding these functions allows a firm to act in a way that respects stakeholders. 3) Managing for stakeholders and understanding utility functions can provide competitive advantage by allowing firms to possess valuable, rare, and difficult to imitate resources in the form of strong stakeholder relationships.
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It used to be believed that the organization's essential objective is or should boost the interests of the investors. In any case, more issues are progressively raised concerning stakeholder control. Accordingly, the Stakeholder approach these days is by all accounts an elective method for corporate government these days. This implies chiefs of the organization ought to consider more on different Stakeholder bunches rather than simply focused on financiers interests. It would encourage chiefs to take progressively significant consultation on their choices as the investor is never again the main factor they have to offer the idea to, and this can stay away from transient benefit boost conduct to a huge degree.
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Stakeholder hypothesis was first raised by R. Edward Freeman as an absolute opposite to the hypothesis that chiefs of the organization is just responsible to the investors. Stakeholders incorporate representatives, suppliers of acknowledge, (for example, banks and money related foundations), providers, clients, nearby set-ups, natural gatherings and the government and their interests out to be assessed by the executives of the organization. As indicated by Freeman, every Stakeholder has an option to be treated as finishes to only a method or an instrument. At the end of the day, every one of the Stakeholders interests ought to be considered by executives of organization, regardless of whether in certain conditions where it may conflict with the transient ideal estimation of the investors.
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Besides, it would accommodate the connection between the non-investor gatherings and the organization. Take the general population representatives for instance, seeing them as an organization instead of a methods would eventually make a progressively agreeable and beneficial connection between the workers and the organization, it is fundamental for organizations to have qualified and well-persuaded workers to endure and to succeed particularly in the escalated focused world these days.
Thirdly, the advancement of an organization must incorporate the nearby networks and condition. Accepting them as Stakeholders would maintain a strategic distance from acquiring a transient benefit to their detriment, which thusly will be hindering to the long haul enthusiasm of the organization. In addition, outside guidelines like natural insurance principles mirro ...
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We know we want to create products which our customers find to be valuable. Whether we label it as customer-centric or product-led depends on how long we've been doing product management. There are three challenges we face when doing this. The obvious challenge is figuring out what our users need; the non-obvious challenges are in creating a shared understanding of those needs and in sensing if what we're doing is meeting those needs.
In this webinar, we won't focus on the research methods for discovering user-needs. We will focus on synthesis of the needs we discover, communication and alignment tools, and how we operationalize addressing those needs.
Industry expert Scott Sehlhorst will:
• Introduce a taxonomy for user goals with real world examples
• Present the Onion Diagram, a tool for contextualizing task-level goals
• Illustrate how customer journey maps capture activity-level and task-level goals
• Demonstrate the best approach to selection and prioritization of user-goals to address
• Highlight the crucial benchmarks, observable changes, in ensuring fulfillment of customer needs
Organizational Change Leadership Agile Tour Geneve 2024
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Part 2 Deep Dive: Navigating the 2024 Slowdown
Introduction
The global retail industry has weathered numerous storms, with the financial crisis of 2008 serving as a poignant reminder of the sector's resilience and adaptability. However, as we navigate the complex landscape of 2024, retailers face a unique set of challenges that demand innovative strategies and a fundamental shift in mindset. This white paper contrasts the impact of the 2008 recession on the retail sector with the current headwinds retailers are grappling with, while offering a comprehensive roadmap for success in this new paradigm.
ModelingMarketingStrategiesMKS.CollumbiaUniversitypdf
Implicitly or explicitly all competing businesses employ a strategy to select a mix
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How to Implement a Real Estate CRM Software
To implement a CRM for real estate, set clear goals, choose a CRM with key real estate features, and customize it to your needs. Migrate your data, train your team, and use automation to save time. Monitor performance, ensure data security, and use the CRM to enhance marketing. Regularly check its effectiveness to improve your business.
Building Your Employer Brand with Social Media
Presented at The Global HR Summit, 6th June 2024
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managing for atakeholders.pptx
- 1. Written by Jeffrey S. Harrison ,Douglas A. Bosse ,Robert A. Phillips Summarized by Mahmoud A Tallouzi MANAGING FOR STAKEHOLDERS, STAKEHOLDER UTILITY FUNCTIONS AND COMPETITIVE ADVANTAGE
- 2. About the writers: • Harrison, Jeffrey S., Douglas A. Bosse and Robert A. Phillips. Robins School of Business, University of Richmond, Richmond, Virginia, U.S.A. • Citations: 503
- 3. “All stakeholders must participate in the gains and losses of any particular situation” Christine Lagarde
- 4. • Stakeholders : groups and individuals who can affect, or are affected by, the strategic outcomes of a firm.
- 6. Managing for stakeholders - Describes firms that allocate both value and decision-making influence widely across their primary stakeholders. - Firms that manage-for-stakeholders are expected to be in a favorable position with regard to understanding stakeholders’ utility functions. This information allows for a better understanding of minimum stakeholder requirements. -Firms that manage for stakeholders allocate more value than what is necessary simply to maintain their willful participation in the workings of the firm> -From a traditional microeconomic perspective, firms overinvest in some stakeholders
- 7. Example a chain of coffee houses that provides health benefits to their part-time employees even though doing so is not industry practice. That same company pays its suppliers more for its coffee beans than the market requires. *Companies like this are intentional in their efforts to optimize the value of their relationships with stakeholders.
- 9. MANAGING FOR STAKEHOLDERS AND STAKEHOLDER UTILITY FUNCTIONS A firm that manages for stakeholders seeks to identify and understand how the welfare of its stakeholders is affected by the actions it takes. It also seeks to actin a way that demonstrates to stakeholders that it understands and respects how their welfare is affected. Welfare refers to the well being of an individual or group and is often conceptualized by a utility function.
- 10. STAKEHOLDER UTILITY FUNCTIONS AND COMPETITIVE ADVANTAGE Competitive advantage is often thought to be related to possession of resources that are valuable, rare, and non-substitutable (Barney, 1991). Furthermore, if these types of resources are also difficult or costly to imitate, then the advantages they provide may be sustainable over time.
- 11. CONCLUSION In this paper, we applied a stakeholder management approach to the central question in strategic management: why some firms have higher performance than other firms. The relationship between managing for stakeholders and value creation was examined in depth, thus filling a void in the literature. This paper matters because it provides a detailed explanation of how and why the firm behaviours associated with managing for stakeholders work to unlock the potential for value creation and the conditions that either facilitate or disrupt this creation process. These explanations provide a strong rationale for including stakeholder theory in the discussion of firm competitiveness and performance.
- 12. THANKS A LOT