Executive Summary This article‚ by esteemed authors Michael Porter and Mark Kramer‚ examines the relationship between business and society‚ the deeper purpose of capitalism and its benefits towards identifying and meeting real societal needs. The authors believe that we have narrowed the scope of thinking how businesses can create economic value and they are thus increasingly being seen as the problem rather than the solution to building a better society. This phenomenon has lead governments to
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Quantitative Methods for Business Chapter 5 Problem No. 3 Homework Solution Problem No. 3 _____________________________________________________________________________________________ Problem No. 3 In a certain lottery‚ a lottery ticket costs $2. In terms of the decision to purchase or not to purchase a lottery ticket‚ suppose that the following payoff table applies: Decision Alternatives Win s1 Loses s2 Purchase lottery ticket‚ d1 300‚000 -2 Do not purchase lottery ticket
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Creating Shared Value In the article creating shared value the authors‚ M. Kramer and M. Porter discuss the current state of business value creation; and the efforts that need to be taken to create shared values. Currently businesses primarily concern themselves with profits and view value creation in such a way that they do not fully take advantage of their full potential. Additionally‚ the government has implemented policies that have only exasperated the drive from shared value creation. “Shared
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is to offer a wide range of home furnishing items of good design and function‚ excellent quality and durability‚ at prices so low that the majority of people can afford to buy them (IKEA 1994). The company targets the customer who is looking for value and is willing to do a little bit of work serving them-selves‚ transporting the items home and assembling the furniture for a better price. The typical Ikea customer is young low to middle income family. 2. Company Summary: 3.4. Company
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CREATING SHARED VALUE For many years leading up to today‚ profit seeking enterprises have been viewed as a major cause of problems in the society and are believed to prosper at the expense of the community. The legitimacy of businesses has fallen and this diminished trust has led politicians to impose tougher restrictions on businesses that cause them to be uncompetitive. The problem lies in the fact that businesses continue to be short sighted in their approach to growth. They continue to look
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ISBN - 978-93-81583-46-3 Sustainable Banking in India: The Road Less Travelled Dr. Prita D. Mallya Associate Professor Dept. of Economics & Banking‚ VVM’s Shree Damodar College of Commerce & Economics‚ Goa pritamallya@yahoo.com; pritamallya@gmail.com National Conference on Emerging Challenges forSustainable Business 2012 311 Sustainable Banking in India: The Road Less Travelled Sustainable Banking in India: The Road Less Travelled Abstract Although the concept and practice of socially
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How can you tell if your company is really more than the sum of its partsl CREATING CORPORATE ADVANTAGE BY DAVID J. COLLIS AND CYNTHIA A. MONTGOMERY M OST MULTIBUSINESS COMPANIES ARE the sum of their parts and nothing more. ^ Although executives have become more sophisticated in their understanding of what it takes to achieve competitive advantage at the level of individual businesses‚ when it comes to creating corporate advantage across multiple businesses‚ the news is far less encouraging
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Chapter One Marketing: Creating and Capturing Customer Value Chapter 1- slide 1 Creating and Capturing Customer Value Topic Outline • • • • • • • What Is Marketing? Understand the Marketplace and Customer Needs Designing a Customer‐Driven Marketing Strategy Preparing an Integrated Marketing Plan and Program Building Customer Relationships Capturing Value from Customers The Changing Marketing Landscape Copyright © 2010 Pearson Education‚ Inc. Publishing as Prentice Hall Chapter 1- slide
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Summary of ‘Creating shared value’ by M. Porter and M. Kramer The problem nowadays is that most businesses don’t have the right purpose ‘in mind’. They have a narrow-minded view in making profit and thus optimizing short-time financial performance. This old capitalistic view leads to a vicious circle. More specifically‚ the corporation doesn’t keep its environment and the broader community in mind while making profit and so they are perceived as (partly) responsible for society’ failures. This
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COMPETENCIES "We can ’t achieve our strategic objectives without a work force of people who are immersed in the same commitment as management. Our only sustainable advantage is the quality of our workforce. We ’re building a national retail company by creating pride in--and a stake in--the outcome of our labor." --Howard Schultz Founder and CEO of Starbucks According to this statement‚ the human resource is the number one resource in Starbucks Corporation. Schultz believes that happy employees
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