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What do you think is the business organization primary responsibility to it's stakeholders and why?
A business organization's primary responsibility to its stakeholders is to create value while ensuring ethical practices and transparency. This involves balancing the interests of shareholders, employees, customers, and the community, as their collective well-being is essential for sustainable success. By prioritizing stakeholder engagement and fostering trust, organizations can drive long-term growth and resilience, ultimately benefiting all parties involved. This approach not only enhances reputation but also mitigates risks and promotes a positive impact on society.
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What do think is the business organization primary responsibility to its stakeholders and why?
A business organization's primary responsibility to its stakeholders is to create value while balancing the interests of all parties involved, including shareholders, employees, customers, suppliers, and the community. This involves operating ethically, ensuring financial sustainability, and fostering positive relationships. By prioritizing stakeholder interests, organizations can enhance their reputation, drive long-term success, and contribute to social and economic well-being. Ultimately, a stakeholder-focused approach promotes trust and loyalty, which are vital for sustained growth.
Does this decision involve ethics or is it a business decision?
The decision could involve both ethics and business considerations, depending on its context. If it impacts stakeholders' well-being, social responsibility, or fairness, then ethical implications are significant. However, if the primary focus is on profitability, market positioning, or operational efficiency, it leans more towards a business decision. Ultimately, the interplay between ethical values and business objectives often shapes the final outcome.
What are the two theories of corporate social responsibility?
The two primary theories of corporate social responsibility (CSR) are the stakeholder theory and the shareholder theory. The stakeholder theory posits that companies have obligations to a wide range of stakeholders, including employees, customers, suppliers, and the community, emphasizing ethical considerations and social impact. In contrast, the shareholder theory, often associated with economist Milton Friedman, argues that a corporation's primary responsibility is to maximize shareholder value, suggesting that social initiatives should only be pursued if they align with profit-making objectives.
What are brick and mortar organization?
old-economy organizations (Corporation) that perform their primary business off-line, selling physical products by means of physical agents.
What is the primary motive of business?
Business motives vary among organization/company. However, they share common attributes such as but not limited to: Provide a good or a service that is of sufficient perceived value to customers that enough purchases are made of the product or service that the revenue received by the business is at a net break-even point (in the case of nonprofit business) or at a profit. Public businesses' primary motive is to return the maximum value to its shareholders.
What do think is the business organization primary responsibility to its stakeholders and why?
A business organization's primary responsibility to its stakeholders is to create value while balancing the interests of all parties involved, including shareholders, employees, customers, suppliers, and the community. This involves operating ethically, ensuring financial sustainability, and fostering positive relationships. By prioritizing stakeholder interests, organizations can enhance their reputation, drive long-term success, and contribute to social and economic well-being. Ultimately, a stakeholder-focused approach promotes trust and loyalty, which are vital for sustained growth.
How do three primary stakeholders capital market organizational product market influence the organization?
1. Capital market stakeholders 2. Product market stakeholders and 3.Organizational stakeholders
Who are the primary stakeholders that shape the business ethics?
nike/tony hawk
Examples of primary stakeholders?
Primary stakeholders are the people who take part in economic transactions with the business. More often than not, they are internal stakeholders. Some examples are suppliers, stockholders, customers, creditors, and employees.
Define primary and secondary stakeholders?
Stakeholders that are both important and influential, are primary stakeholders and must by fully engaged in the governance and steering of the project, if it is to succeed. While stakeholders that are either important or influential, are secondary stakeholders and need to be actively managed during the project.
How can you classify stakeholders?
Stakeholders can be classified based on their level of influence and interest in a project or organization. Common classifications include primary stakeholders, who are directly impacted (e.g., employees, customers), and secondary stakeholders, who have an indirect interest (e.g., suppliers, community members). Additionally, stakeholders can be categorized as internal (within the organization) or external (outside the organization). Understanding these classifications helps in prioritizing engagement strategies and addressing their needs effectively.
What organization serves as the office of primary responsibility for DOD wide PR matters?
JPRA
Who are the skateholders?
Stakeholder is a person, group or organization that has interest or concern in an organization.Stakeholders can affect or be affected by the organization's actions, objectives and policies. Some examples of key stakeholders are creditors, directors, employees, government (and its agencies), owners (shareholders), suppliers, unions, and the community from which the business draws its resources. A party that has an interest in an enterprise or project. The primary stakeholders in a typical corporation are its investors, employees, customers and suppliers.
What are the three kinds of stakeholders?
Stakeholders can generally be categorized into three types: primary, secondary, and key stakeholders. Primary stakeholders are those directly affected by a project or organization, such as employees, customers, and investors. Secondary stakeholders are indirectly impacted, including community members, activists, and media. Key stakeholders hold significant influence or importance, often including executives, major shareholders, or regulatory bodies that can affect decision-making and outcomes.
What part of the organization has primary responsibility for productivity?
Operation manager is primary responsible is to achieve the productive use of organizational resources.
Are all internal stakeholders primary stakeholders?
No, government and creditor are the external stakeholders.
What do certain stakeholders have the most influence of in business?
Owners have a big say in how the aims of the business are decided, but other groups also have an influence over decision making. For example, the directors who manage the day-to-day affairs of a company may decide to make higher sales a top priority rather than profits. Customers are also key stakeholders. Businesses that ignore the concerns of customers find themselves losing sales to rivals. In a small business, the most important or primary stakeholders are the owners, staff and customers. In a large company, shareholders are the primary stakeholders as they can vote out directors if they believe they are running the business badly. Less influential stakeholders are called secondary stakeholders.
