SMG SM 131 Study Guide - Midterm Guide: Corporate Social Responsibility, Creating Shared Value, Stakeholder Theory

• School: Boston University
• Department: School of Management
• Course: SMG SM 131
• Professor: John Dixon

Document Summary

Intro to business: purpose of business - to create sustainable, long-term value for stakeholders, owners, employers, customers, communities, suppliers, driving performance. Essential ingredients: compelling strategy/vision, effective execution, exibility, talented, aligned, engaged people, strategic planning model: *(bottom - up: top management structure: (responsibilities, board of directors (bod) Duty of loyalty - represents interests of owners. Duty of care - understand the company. Hire and fire ceo: chairman of bod - (ceo) Drives accountability for integrity: president and ceo. Develops leadership talent: senior management structure, chairman/president or ceo - ( c-suite , the line . Business managers/ group presidents: creates grows business (pro ts and revenues); achieve budgets. Sales: set prices; mix, retain, and again customers. Marketing: product **fill in: staff management roles: Support business operation: quality/process improvement and progress, corporate marketing, research and development, finance/ business development, legal/compliance/risk management, regulatory affairs, information technology, human recourses, communications.