BU111 Chapter 3: Chapter 3 - Social Environment.docx
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BU111 Full Course Notes
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In dealing with such agents, there is ethical ambiguity in every activity advertising, financial disclosure, bargaining and negotiation, etc. If no on all 4 criteria, the act/policy is unethical. Is there any reason why one may have been forced into committing an act/following a policy: make judgment: based on the rightness or wrongness of the proposed activity or policy. Business-stakeholder connection stakeholders provide business with the capacity to operate owners and creditors: capital customers: purchases. Natural environment: natural resources: stakeholders have the expectations of the business. Employees: fair pay, meaningful work, safety, fair treatment, training. Strategic importance of stakeholder: when importance is high, use strategic partnering in savage et al+ table 2 of harrison & st. Have customers/suppliers work with you to come up with new products more likely to be successful if customers find it exciting and agree if it works. Suppliers can offer other materials/components that can benefit your products.
