MGT 3501 Chapter 2: MGT 3501 - Textbook Notes 2
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2 1: know what a sustainable business strategy is and how it relates to operations and supply chain management. A strategy that is sustainable needs to create value for the firm"s shareholders and stakeholders. The shareholders are equity owners in the company. The stakeholders are those individuals and organizations that are influenced by the actions of the firm. This view means that a firm"s strategy must focus not only on economic viability, but also on the environ- mental and social impact of its actions. Sustainability the ability to meet current resource needs without compromising the ability of future generations to meet their needs. Triple bottom line a business strategy that includes social, economic, and environmental criteria. This involves setting the broad policies of a firm and creating a plan for using that firm"s resources. The operations and supply chain strategy coordinates operational goals with those of the larger organization.
