scholarly theory that other stakeholders should have some duties— towards the firm‚ in particular—should be a pleasant relief. However‚ key lessons for managers are that responsibilities towards the firm require that managers first conduct themselves morally; and that other stakeholder responsibilities often involve moral and citizenship duties requiring collective action‚ for which business leadership may be crucial. Mutual and joint responsibilities of stakeholders separate into four general
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Stakeholders can be defined as all entities that are impacted through a business running its operations and conducting other activities related to its existence. The impact can be direct in the case of the business’s customers and suppliers or indirect in the case of the communities in which the business chooses to place its locations. Businesses must consider the needs and expectations of its stakeholders‚ though it need not consider them to be of equal importance. Certain stakeholders such as owners
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“The primary role of management is to maximize the wealth of the shareholder.” “Financial management should include not only a concern for profit maximization but also for maximization of societal value.” The stakeholder theory defines the main objective of each and every organization. It is to be able to maximize the wealth of the firm by increasing its stock price. By defining the wealth of the firm‚ it is also defining the stockholder who own shares of the company. The parallelism of the stock
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CHAPTER 1: THE THEORETICAL FRAMEWORK OF DISTRIBUTION SYSTEM AND DISTRIBUTION CHANNEL MANAGEMENT 1.1 Overview about distribution and distribution channel 1.2.1 Concept‚ roles and purpose of distribution 1.2.2.1 Distribution Distribution is the process of making a product or service available in the right quantities and locations when customers want them‚ using direct means‚ or using indirect means with intermediaries. (Willam D. Perreault) It’s a movement of goods and
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The article “A Framework for Thinking Ethically” summarizes the world of ethics in three sections: the definition of ethics‚ five sources to ethics and a framework for solving ethical dilemmas. Ethics is defined as “standards of behavior that tell us how human beings ought to act” (ethics article). Furthermore‚ the article states ethics is not religion‚ feelings or science. The conclusion of this defining section questions the origin and usage of ethics. The next section introduces five sources
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Museum stakeholders are a group of people that share a special interest in the museum. There are internal stakeholders and external stakeholders. The main stakeholders of the museum might include the state’s central and local government or governmental agencies‚ the local communities‚ financial contributors or members‚ corporate sponsors‚ friends‚ schools and universities‚ and various individuals to include paid employees‚ volunteers‚ trustees‚ and donors. Having stakeholders is considered a best
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between companies and their stakeholders and to determine whether or not good relationships with stakeholders lead to benefits‚ therefore possibly leading to significant cost savings. Benefits of good relationships with stakeholders: Positive relationships with stakeholders lead to several benefits for a company‚ in many aspects of the work place. Some of these benefits include: * Conflict resolution If positive relationships are maintained between management and employees in a company
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institution has been recognized as one of the premiere primary schools within the Victoria Educational District having had numerous successes at all levels of student development namely academic‚ athletics‚ sports and other co-curricular activities. The Management team is led by a recently appointed Principal‚ an acting Vice Principal (who is also the H.O.D. of the Infant Department) and one (1) Head of Department (H.O.D.). There are only five (5) males and thirty- one (31) females on staff‚ while the age
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Managing for Impact in Rural Development Annex B Annotated Example of a Project Logframe Matrix Table of Contents of Annex B B.1 Reviewing an Existing Logical Framework Matrix B.2 Reworked Logframe Matrix This Annex is useful for: • Managers - to help when revising the project design and its logical framework; • Consultants - to ensure that the proposed project design is based on good design practice; • IFAD and cooperating institution staff - to check that the proposed project
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Freeman Hrabowski’s article in the New York Times explains why a person should attend college. Initially‚ Hrabowski establishes credibility on the topic purely through his title as the chair of the President’s Advisory Commission on Educational Excellence for African Americans. Because he has been given this title by past president Barack Obama‚ the reader automatically identifies Hrabowski as a person who they will be able to trust. Secondly‚ Hrabowski starts his argument with a small personal
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