ETHC 3P82 Lecture Notes - Lecture 3: Profit Margin, Costco, James Sinegal
19 Aug 2015
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Managing for stakeholders: stakeholders and stakes, primary, secondary, the responsibility of the executive in managing for stakeholder, stakeholder interests should be joint. How can we provide superior benefits without affecting shareholders: create as much value as possible for stakeholders without resorting to a tradeoff, some arguments for managing stakeholders, consequences, rights, character, pragmatist. If need to make tradeoff figure out how to improve the trade off for all parties: business is about creating value for stakeholders, freeman"s stakeholder management theory, friedman"s stockholder theory. Costco: history, jim sinegal, founded in 1983, 1. 3b in sale, 140k employees, 3rd largest retailer in the world, business models, limited numbers of items, reduce costs, high wages, customer membership, no advertising.
