MGMT3001- Midterm Exam Guide - Comprehensive Notes for the exam ( 29 pages long!)

• School: UNSW, UNSW Sydney
• Department: Management
• Course: MGMT3001
• Professor: Janiswardrop

Document Summary

Chapter 1 strategy: concepts and perspectives written notes in book. Introduction: the most important strategic management issues concern how companies are led and controlled by corporate leaders (grant 41) Governance and sustainability: corporate governance is closely related to the sustainability of an organization. Boundaries and relationships of corporate governance: the p(cid:396)o(cid:272)ess of (cid:272)o(cid:396)po(cid:396)ate go(cid:448)e(cid:396)(cid:374)a(cid:374)(cid:272)e sta(cid:396)ts (cid:449)ith a(cid:374) o(cid:396)ga(cid:374)isatio(cid:374)(cid:859)s (cid:373)a(cid:374)age(cid:396)s, (cid:449)hi(cid:272)h i(cid:374)(cid:272)ludes the (cid:272)hief executive officer (ceo) and senior managers. This disparity in role perception understanding why some corporate leaders are not interested in stakeholder management is important. At the rational level, an understanding of who are the stakeholders of the organisation and what are their perceived stakes is necessary. The stakes of each specific stakeholder group need to be identified, analysed and linked to their relative power characteristics: 2. At the process level, the organisation either implicitly or explicitly manages its relationships with its stakeholders and, therefore, processes should be designed to reflect the rationale of the stakeholde(cid:396)s(cid:859) needs.