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What is a stakehoulder?
A stakeholder is any group or individual that has in any way something to do with a firm and thus, an interest in the well being of the firm - for example the shareholders (as the owners), suppliers, employees, customers, the government, the press, the society etc
What are the duties and responsibilities of a logistic officer in any firm?
The duties and responsibilities of a logistic officer in any firm are quite diverse. The duties are to ensure that all logistics are handled which include facilitation of training for staff members and identify any areas that need improvement in efficiency.
How would you determine the market demand for your firm's IT services?
Hold focus groups to assess your services.
What are the goals of the firm?
To maximize profit.To have low costs.To have profit in the short run and business value in the long run.To get a social function (some firms only).To grow/expand as a firm.
What happens when a firm undertakes corporate social initiatives?
When a firm undertakes corporate social initiatives, this action normally is a benefit for the public. A social initiative of hiring more lower income employees helps enrich the community and gains a good or better reputation for the business. Other initiatives such as donating funds for the homeless or for environmental causes simply helps all people.
What is a theory that recognizes that firms have relationships with many constituent groups which both affect and are affected by the actions of a firm?
Stakeholder theory
Who are skakeholders in a firm?
A stakeholder is defined as any party that has an interest in an enterprise or firm. Generally stakeholders include share holders, employees, customers and suppliers.
What is a fringe stakeholder?
Fringe stakeholders are stakeholders who could not directly impact the firm; however, they can joint together and voice their concerns using the Internet or other medium. On the other hand, those stakeholders that can directly impact the firm is called "salient stakeholder" Reference: Capitalism at the Crossroad page 20. Author Dr. Stuart L. Hart
What is a stakehoulder?
A stakeholder is any group or individual that has in any way something to do with a firm and thus, an interest in the well being of the firm - for example the shareholders (as the owners), suppliers, employees, customers, the government, the press, the society etc
Dilemma Between the stakeholder and the manager?
First the relationship is reciprocal, a manager can be a stakeholder and a stakeholder can be a manager.A stakeholder is any person with a interest in the project. It might be the CEO of the company, a manager, a client, etc... Sometimes, there are conflicting motivations between the stakeholder that wants profit and manager that wants leisure and security, these motivations are called agency problem. Solutions to Agency Problems: · Compensation as incentive. · Extending to all workers stock ,bonuses and grants of stock. · Making workers act more like owners of the firm
What are the duties and resposibilties of a MD of a firm?
The MD of a firm or business is the "Managing Director". They are also known as Chief Executives, they delegate the responsibilities of members of the Management Team.
What is the advantage of investing in social capital for a firm?
The biggest advantage of investing in social capital by a firm is the goodwill that the investment shows the community involved. Many companies invest social capital into the communities of which they are headquartered.
Does a Shareholder view of ethics suggest that you retain mission critical people at the expense of less critical employees?
By the end of this section, you will be able to: Identify the factors that affect stakeholder prioritization Explain why priorities will vary based upon the interest and power of the stakeholder Describe how to prioritize stakeholder claims, particularly when they conflict If we carry the idea of stakeholder to the extreme, every person is a stakeholder of every company. The first step in stakeholder management, the process of accurately assessing stakeholder claims so an organization can manage them effectively, is therefore to define and prioritize stakeholders significant to the firm. Then, it must consider their claims. Given that there are numerous types of stakeholders, how do managers balance these claims? Ethically, no group should be treated better than another, and managers should respond to as many stakeholders as possible. However, time and resource limitations require organizations to prioritize claims as stakeholder needs rise and fall.
What are the duties and responsibilities of a logistic officer in any firm?
The duties and responsibilities of a logistic officer in any firm are quite diverse. The duties are to ensure that all logistics are handled which include facilitation of training for staff members and identify any areas that need improvement in efficiency.
Is the firm better off favoring a particular stakeholder group over another?
All firms are faced with choosing between competing stakeholders at some point in their operations. The best course of action is to run a cost-benefit analysis to determine which stakeholder presents the option that maximizes the benefit at the lowest risk and cost.
What should be the social and ethical responsibilities of multinational management?
Social and ethical responsibilities means taking account of the organisation's impact socially, environmentally, economically and in terms of human rights. While some firms may pay lip service to this and dabble in showy 'give something back' PR activities, the forerunners have Social responsibilities policies underpinning the entire company strategy and ethos.Social responsibilities considers people external to the firm - perhaps working in partnership with local communities and development groupsSocial responsibilities involves socially responsible investment (SRI)Ethical responsibilities demonstrate real concern and respect for employees (training, development, rewards, work-life balance, incentives, perks), for customers (safe, quality, value for money products and good customer service), and for suppliers (fair trade policies etc.)
What are the annual salaries of partners who work for accounting firms?
The average salary for an accounting firm partner is about $179,348 per year. Accounting firm partners have compliance and management responsibilities.
