Please enable JavaScript.

Coggle requires JavaScript to display documents.

Group 1 Stakeholders Strategy image (Members (104212033 Jason, 104212044…

- - - - Definition
        
        Market power is the ability to price above competitive levels
      - Issue
        
        Firms may capture consumer surplus at the expense of general welfare.
    - - Definition
        
        These are costs imposed on one stakeholder by the action of a second without compensation
      - Issue
        
        Firms lack market incentives to reduce these costs.
    - - Definition
        
        Common goods are those resources to which everyone has free access, and more for one consumer means less for others.
      - Issue
        
        The tragedy of the commons: Firms/ individuals may over-consume common goods.
    - - Definition
        
        Information asymmetries (When one party knows more than another) may create a "market for lemons" or principal-agent problems
      - Issue
        
        Increases transaction costs to the point where economic exchange may not take place.
  - - - Standards of behavior be commonly recognized and followed
    - - Normative conflict arises when multiple plausible rules exist, specifying how one ought to behave in a given situation.
    - - Enfranchisement for underprivileged monitories
      - Business model adaptation
      - Public education campaigns
    - - Privatization
      - Unionization
      - Child labor
  - - - Patent infrigement
    - - Adjust business model
    - - Trade associations
- - - - :check: What's your mission?
    - - :check: What's your purpose?
        
        It's important to see if a business organization's stakeholders are ends and not just means to profit.
    - - :check: What is the way you do business?
        
        Think about your stakeholders as partners in the value creation process.
  - - - Finance
        
        Product
        
        Brand
        
        Talented People
        
        1 more item...
- - - - better align the interests of all of those stakeholders