Class 11: Jiminy Peak Case Study
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11 Terms
1
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**Shareholders or Stakeholders?**
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Historically, corporations have been viewed as \n serving and being responsible to its ____________
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Historically, corporations have been viewed as \n serving and being responsible to its ____________
shareholders
2
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**Shareholders or Stakeholders?**
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An emerging widespread view in politics and public opinion is that corporations should serve a larger _______________ and to be ‘responsible’
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An emerging widespread view in politics and public opinion is that corporations should serve a larger _______________ and to be ‘responsible’
social purpose
3
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**Shareholders or Stakeholders?**
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That is, they should consider the effects ____________ have on various groups (stakeholders)
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That is, they should consider the effects ____________ have on various groups (stakeholders)
their decisions
4
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**Shareholders or Stakeholders?**
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The stakeholder view emphasizes a corporation's \\n duties towards employees, ______________, and \\n creditors, as well as other ethical considerations \\n Shareholder approach vs. Stakeholder approach
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The stakeholder view emphasizes a corporation's \\n duties towards employees, ______________, and \\n creditors, as well as other ethical considerations \\n Shareholder approach vs. Stakeholder approach
communities
5
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**Stakeholder Approach: Potential Issues**
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Giving control rights to non-owners/non-investors may discourage ________, reducing societal wealth
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Giving control rights to non-owners/non-investors may discourage ________, reducing societal wealth
financing
6
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**Stakeholder Approach: Potential Issues**
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Other avenues to protect those negatively affected by corporate decisions may be more ___________
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Other avenues to protect those negatively affected by corporate decisions may be more ___________
effective
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e.g., debt covenants, collective bargaining agreements, \n environmental regulations, legal protections, etc.
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e.g., debt covenants, collective bargaining agreements, \n environmental regulations, legal protections, etc.
7
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**Stakeholder Approach: Potential Issues**
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It is more difficult to both ___________ managerial performance and ___________ managers if their goal is maximizing social welfare
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It is more difficult to both ___________ managerial performance and ___________ managers if their goal is maximizing social welfare
measure;
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incentivize
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incentivize
8
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**Stakeholder Approach: Potential Issues**
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Measuring the benefits managerial actions have on all aspects of society is an extremely ___________
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Measuring the benefits managerial actions have on all aspects of society is an extremely ___________
complex problem
9
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What Is Happening Right Now?
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Over the last \~20 years, corporations have significantly increased their investments in ___________________________________ actions
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Over the last \~20 years, corporations have significantly increased their investments in ___________________________________ actions
corporate social responsibility (CSR)
10
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What Is Happening Right Now?
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Many are also choosing to voluntarily disclose their record in this area
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The Triple Bottom Line (______________________)
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This is an __________ choice that affects firm value!
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Many are also choosing to voluntarily disclose their record in this area
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The Triple Bottom Line (______________________)
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This is an __________ choice that affects firm value!
People, planet, profit
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accounting
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accounting
11
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What Is Happening Right Now?
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There is growing evidence that corporations are \n moving towards more of a ____________________
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There is growing evidence that corporations are \n moving towards more of a ____________________
stakeholder approach