MGMT 1000 Lecture Notes - Triple Bottom Line, Balanced Scorecard, Hidden Curriculum

• School: York University
• Department: Management
• Course: MGMT 1000
• Professor: Jean Adams

Document Summary

Helps you achieve best fit between internal competencies and environmental opportunities. Innovative companies use first-mover strategy; offer new products months/years ahead of competition. Businesses with distinctive competencies in production enforce aggressive pricing strategy used to undercut competition. Service organizations thrive on customer loyalty; offer customized value and unique benefits generating knowledge advantage. Focus on financial performance, social and environmental impacts is crucial for survival in today"s business environment: economic aspects. Economic indicators of success managers/leaders attend to are profit/loss statements, shareholder value, price of shares, market share, resource acquisition and allocation. Organizations need to be financially viable: social aspects. Embrace social responsibility as core value and seek to integrate it with organizational policies. Rise of environmental legislation protecting environment from abuse; ensures citizens right to clean air, water, etc . Environmental indicators of success: pollution reports, energy consumption, # of environmental legal cases, environmental audit in annual reports, recognition in industry environmental awards programs, green certification; (leeds for construction industry)