MIS 302F Lecture Notes - Lecture 2: Triple Bottom Line, Fiduciary, Law Of Obligations

• School: UT-Austin
• Department: Management Information Systems
• Course: MIS 302F
• Professor: S Provost

Document Summary

How a company sustains competitive advantage across a chosen market scope. Maximizing the share price, value of the equity, value of the firm. Managers may not share the same goals as shareholders. Legal obligation of one party to act in the best interest of another. Firms and managers are also responsible for other stakeholders besides shareholders. Aims to measure the financial, social, and environmental performance of the corporation over a period of time. Only a company that produces a tbl is taking account of the full costs involved in doing business. Shifting societal values towards sustainability and social justice. Technology (internet, social media, data availability, transparency, etc. ) Need to make the most of limited resources. Alignment of all business processes with corporate strategy. Moral/ethical/practical responsibility of business to help save the world. Firms that use contract manufacturers don"t own the plants or directly employ the workers who produce the requested goods.