PHI 2397 Lecture Notes - Lecture 2: Triple Bottom Line, Stakeholder Management, Consumer Protection
13 Apr 2020
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Document Summary
Want people who want to be there, who offer great service for customers. These kinds of companies, as long as you make no mistakes in the community, they can create value. Companies who have a purpose of making the world a better place, making a difference. Enterprise first, trying to find an integrative way to include stakeholders, then the rest comes. Make your difference, but make sure you can still take care of your shareholders at the same time. Everything should work together cohesively and efficiently, all receiving the same attention. To challenge the assumption that management"s primary responsibility is the shareholders or the stockholder. Management"s role is to return profits back to investors. Freeman says this has gotten out of hand, he thinks we need to take a more collaborative approach to how corporations do business. The management has a direct responsibility/ they"re #1 responsibility is to the shareholders/stockholders/investors, and that"s the only responsibility.
