BUS 101 1st Edition Lecture 12 Outline of Previous Lecture- Outline o Section 11: Liability Case & Customers Big Fat Liability Caseo Primary Stakeholderso The Caseo Customers and Regulationo Pro Regulation Perspectivef Current Lecture - Section 12: Review for Exam Stakeholders Reasons for adopting stakeholder theory Economic system Ethical theory Supply chainCurrent Lecture- Section 12: Review for Exam Stakeholderso Investors o Employeeso Customero Supply Chain o Marketo Society Know primary relationships: Contractual, regulatory, fiduciary What are the duties within the fiduciary duty? Reasons to adopt stakeholder theoryo Coping strategyo Self-interesto Social contracto Fundamental fairness If all reasons are applicable to a problem, pick the reason higher up on this list (ie. Coping instead of social contract) Economic systemThese notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.o Socialismo Capitalismo Keynesianism o Laissez-faire How much government regulation does each have? Primary strengths and weaknesses? Examples? Ethical theoryo Stakeholder – Freeman, investor primacy but not exclusivityo Stockholder – Friedman, investors and legality Supply Chain o Supply chain is different from other stakeholders, because its relationship with the business is solely contractual Works business to business, has market leverage No long term commitment unless specified by the contracto Goal of supply chain Loyalty &
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