INST 335 Lecture Notes - Lecture 7: Flat World Knowledge, Strategic Business Unit, Target Corporation
5 Feb 2019
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Document Summary
A stakeholder approach to management focuses on the desire to satisfy multiple, often competing, constituents who have a claim on an organization"s actions and outcomes. Other stakeholders, like the firm"s employees and society at large, are also deemed to benefit from such performance. Increasingly, noneconomic accomplishments, such as reducing waste and pollution, are also viewed as critical performance targets that managers must meet to satisfy stakeholders. The notion of the triple bottom line refers to the measurement of business performance along social, environmental, and economic dimensions. We discuss economic, social, and environmental performance in the following section and conclude it with a brief discussion of the interdependence of economic performance with other forms of performance. The triple bottom line emphasizes the three ps: people (social concerns), planet (environmental concerns), and profits (economic concerns). Source: reproduced with permission from short, j. , bauer, t. , ketchen, d. , & simon, l. (2010).
