STCM 10300 Lecture Notes - Lecture 2: Social Capital, Corporate Social Responsibility, Relationship Marketing
18 Sep 2016
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Document Summary
Someone who is invested in and interested in the activities and outcome of a company: can be internal or external. Person who has an investment, share, or interest of a business or industry. Environmental scan (looking for trades) new stakeholders) Environmental scanning: looking for new customers, analyzing the situation, environmental factors (socio-cultural) Economical/saving money for the business: financial bottom line (must make money) All organizations, even non-profits (don"t want to lose $: best practices: Employee relations: employment security, selective hiring (match vision of the company, self-managed teams and decentralization, high performance based compensation, extensive training, reduction of status differences, sharing information. Employee commitment: clear vision and values. Inspirational and meaningful: part of something bigger, cult-like cultures, fair treatment, two-way communications, intellectual and social capital. Corporate social responsibility: maximizing positive impact, minimizing negative impact. Customer relations: relationship marketing, customer franchise = trust.
