A stakeholder is someone who has an interest in a business. Stakeholders are individuals‚ groups or organisations that are affected by the activity of a business. Customers are arguably the most important stakeholder. This is because they are the main source of cash flow in a business. This means that the business has to listen to what the customers want and need in order to make a profit. Customers Customers are arguably the most important stakeholder. This is because they are the main source
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Strategic Plan‚ Part I: Conceptualizing a Business Marcia Cortez MKT 475 August 13‚ 2012 Michele Dougherty Strategic Plan‚ Part I: Conceptualizing a Business Creating a business is a difficult task that requires essential strategic management. “Strategic management is defined as the set of decisions and actions that result in the formulation and
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Ethics are a collection of principles of right conduct that shape the decisions people or organizations make. In a market economy‚ a business put all possible effort in its own best interest in order to make the best profit. In other hand‚ businesses are involved each other in that process. It’s ethical in business to do the best possible for your own business without harm the interests or profits to other businesses involved. Ethical behavior is what all carrier people should have in all businesses
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Strategic Plan‚ Part I: Conceptualizing a Business By Cynthia Williams BUS/475 - INTEGRATED BUSINESS TOPICS Instructor: RONALD STORM Name of Store: My Legacy Closet Treasures Mission Statement: “Where Old Legacy Become New Treasures.” There are important considerations when developing the strategic plan. The vision‚ mission and values that is highly important to any planning of a new business. These are the factors that will work together to provide a well-rounded strategic design
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In recent years‚ the concept of ethics and social responsibility are essential in the business world as society is increasingly paying attention on the social responsibility of the companies and the ethics of their managers. According to Post et al (1996)‚ ethics refers to standards of behaviour and moral judgement differentiating right from wrong. In addition‚ Bartol et al (2003) defined managerial ethics as “standards of conduct and moral judgement managers’ use conducting their business”. The
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BUSINESS ETHICS WITHOUT STAKEHOLDERS Joseph Heath Abstract: One of the most influential ideas in the field of business ethics has been the suggestion that ethical conduct in a business context should be analyzed in terms of a set of fiduciary obligations toward various "stakeholder" groups. Moral problems‚ according to this view‚ involve reconciling such obligations in cases where stakeholder groups have conflicting interests. The question posed in this paper is whether the stakeholder paradigm
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DPCCE Pl Pl Plan 2005-2010 TI NG GI MI NI RIAN TE EN TIO N M A L AY S I A F HIGHER ED UC A PENG AJ N O RY ST IA Engaging Industries Empowering Communities KE M Department of Polytechnic and Community College Education TI NG GI MI NI RIAN TE EN TIO N M A L AY S I A F HIGHER ED UC A PENG AJ N O RY ST IA F O R E WOR D DIRECTOR GENERAL DEPARTMENT OF POLYTECHNIC AND COMMUNITY
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and evaluating corporate social performance. There are three principal sections: (a) a summary of the approaches‚ models‚ and methodologies used in conducting more than 70 field studies of corporate social performance from 1983-1993; (b) a discussion of the principal conclusions derived from the data that (1) corporations manage relationships with stakeholder groups rather than with society as a whole‚ (2) it is important to distinguish between social issues and stakeholder issues‚ and (3) it is necessary
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huge success and it still being used around the Globe even today. By 2010‚ with more than 90‚000 employees and anticipated year-end revenues of up to $38 billion‚ Microsoft continued to hold a strong lead in the computer software industry. Social Responsibility a. Since 1999‚ Microsoft has worked closely with the Office of the United Nations High Commissioner for Refugees to provide people in dozens of countries with access to technology tools‚ skills training and other essential services. Microsoft
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