Stakeholders and the Corp. Mission
Objectives -Be able to
1.Discuss and know example of an organizations mission statement and how stakeholder claims play in guiding the strategy formulation process
2. Discuss how a firms mission statement guides its strategic actions.
3. Discuss the role of the board of directors, stock compensation plans, and the takeover market as devices for ensuring that management does not ride roughshod over stockholder interests.
4. Discuss how managers can improve the ethical climate of their organizations.
*Know how to identify the various stakeholder groups and how they fit into the strategy formulation process.
The organization has to take stakeholder claims into account when formulation strategies, otherwise stakeholders may withdraw their support. Be able to identify examples of con