BUS 101 1st Edition Lecture 23Outline of Previous Lecture- Section 22: Building a Business Plan Outline and Drafo Include all components of papero DetailsOutline of Current Lecture - Section 23: Stakeholders & Big Fat Liability Big Fat Liability Caseo Stakeholderso Fix Problems Society Perspectiveo Heterogeneouso Homogeneouso Value of Stakeholder Theoryo Autonomy v paternalism- Section 23: Stakeholders & Big Fat Liability Big Fat Liability Caseo Stakeholders Investors – Financial Customers – Legal Society – ethical Customers – ethical Society – Financial o Fix problems Create healthier options Place nutritional information on packaging- Avoid government regulation, lead market Society perspectiveo Heterogeneous USA is focused on the individual, fundamental of society is having the freedomto succeed or fail- Not completely wrapped up in the mindset; if you were to fail, people would feel no obligation to help or care for you at all. Basically just let the failures dieThese 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 Homogeneous China thinks of the society before the individual; concerned about the happiness and well being of all people o Value of Stakeholder Theory Creates compromise; balances issues without abandoning profit- Generally expands the market (adding healthier options expanded the market) - Forces discussion of balancing interesto Autonomy v paternalism To what degree to customers believe they should be taken care of? When a problem becomes too big, society comes
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