StakeholderA 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.
Not all stakeholders are equal. A company’s customers are entitled to fair trading practices but they are not entitled to the same consideration as the company’s employees. An example of a negative impact on stakeholders is when a company needs to cut costs and plans a round of layoffs. This negatively affects the community of workers in the area and therefore the local economy. Someone owning shares in an business such as Microsoft is positively affected, for example, when the company releases a new device and sees their profit and therefore stock price rise.
What is the meaning of “Take/Taken for granted’?Most common definitions:1) to use, accept, or treat in a careless or indifferent manner: 2) to accept without question or objection; assume constituency the people involved in or served by an organization (as a business or institution) political action committee a group formed (as by an industry or an issue-oriented organization) to raise and contribute money to the campaigns of candidates likely to advance the group’s interests advocacy advertising
Advertising used in supporting a particular cause, point of view, or a matter of public importance or interest. advertisements placed by companies presenting their own opinion on one or more public issues. The advertisements reflect the opinion of the company and are meant to influence public opinion. Issues include consumer rights, education, the environment, health, and taxation.
advertising used to espouse a point of view about controversial public issues. Advocacy advertising can be directed at either specific targets, or general targets, such as political activists, the media, consumer groups, government agencies, or competitors. It can be sponsored by any type of advertiser (businesses, consumer groups, special interest groups, political parties, or even individuals).
An extreme example occurred in the 1960s, when a private citizen bought a two-page advertisement in the New York Times at a cost of $12,000 to offer his peace plan for ending the war in Vietnam. In 1974, Mobil Oil Company began advocacy advertising concerning the need for offshore oil drilling to alleviate the energy crisis that existed at the time. NBC accepted the television commercial, but ABC and CBS did not, because of the controversial nature of the topic. As a result, Mobil Oil Company took out fullpage newspaper ads, which reproduced in print the visuals and text for the commercial.
LobbyingThe act of attempting to influence business and government leaders to create legislation or conduct an activity that will help a particular organization. People who do lobbying are called lobbyists. See also lobby.
Individuals and nonprofit organizations can also lobby as an act of volunteering or as a small part of their normal job (for instance, a CEO meeting with a representative about a project important to his/her company, or an activist meeting with his/her legislator in an unpaid capacity). For example, a medical association, or a trade association of health insurance companies, may lobby a legislature in order to counteract the influence of tobacco companies, in which case the lobbying would be viewed by most people as justified (duly defending against others’ corruption).
Coalition BuildingIn business, coalitions have been present for many years as a means of bringing together people, departments within an organization, entire companies, or industries with some common purpose. Examples of such purposes might include; achieving a common corporate goal, lowering insurance rates, regulating an industry action, or strategic planning. Coalitions are an exercise in power, whether in politics or business.
Corporate CultureThe beliefs and behaviors that determine how a company’s employees and management interact and handle outside business transactions. Often, corporate culture is implied, not expressly defined, and develops organically over time from the cumulative traits of the people the company hires. A company’s culture will be reflected in its dress code, business hours, office setup, employee benefits, turnover, hiring decisions, treatment of clients, client satisfaction and every other aspect of operations.
Google is a company that is well-known for its employee-friendly corporate culture. It explicitly defines itself as unconventional and offers perks such as telecommuting, flex time, tuition reimbursement, free employee lunches, on-site doctors and, at its corporate headquarters in Moutain View, Calif., on-site services like oil changes, massages, fitness classes, car washes and a hair stylist. Google’s corporate culture has helped it to consistently earn a high ranking on Fortune magazine’s list of “100 Best Companies to Work For.”
Egothe “I” or self of any person; a person as thinking, feeling, and willing, and distinguishing itself from the selves of others and from objects of its thought. cost leadership Strategy used by businesses to create a low cost of operation within their niche. The use of this strategy is primarily to gain an advantage over competitors by reducing operation costs below that of others in the same industry.
status quothe existing state or condition.
DivestDivest is defined as to take something away from someone, or to rid yourself of something.
IncriminateThe definition of incriminate is to make someone seem guilty or to implicate someone in wrongdoing.
Blunder – mistake
Feasible – possible, doable
Alternative – a possible or remaining choice
Dynamic EnvironmentA dynamic environment consists of changing surroundings in which the agent navigates. So unlike the static case, the agent must adapt to new situations and overcome possibly unpredictable obstacles (problems).
PrecludeTo preclude something is to prevent it from happeningSoundness – effective; states that core strategies should be effective