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Monday, February 7, 2011

Lecture for Monday 02/07/2011

Class opening 9:00 AM
At this time attendance sign in commenced. The professor and student's settled in to their respective places.

General Announcements 9:04 AM
Professor Cameron address questions and concerns about the appearance of missing tests on Webct by advising that the upcoming test will cover material from chapters 1, 2 and 3. In addition, the following information was relayed:

  • Chapters 3, 6, 10 and 16 are incorporated in the tests we will be required to take.
  • Information on the tests may include conceptual information found in our book as well as anything discussed in class.
  • The case studies are found starting on page 769 of the text book.
  • Due dates for all quizzes and summaries have tightened up.
  • You will not need a scantron to take the test. Simply bring something to write with (ex. pen or pencil).
  • The idea of only having one chance to take online exams will be revisited as time goes on. The purpose for having one chance to take the test online is to prevent possible cheating.
Lecture:  Current Events  9:11 AM
Professor Cameron presented an article from the Wall Street Journal titled "Intel Finds Chip-Design Flaw" by Don Clark and Shara Tibken.

Class discussion ensued regarding the article.

Lecture:  Class Material 9:23 AM
Professor Cameron covered material from chapter 3. The following topics where defined, explained and discussed:

  • Nonsocial stakeholders
§  Primary nonsocial stakeholders
§  Secondary nonsocial stakeholders

  • Core, strategic, and environmental stakeholders
  • Stakeholder typology
§  Power
§  Legitimacy
§  Urgency
§  Nonstakeholder

  • A typology of stakeholder attributes
§  Power
§  Legitimacy
§  Urgency

  • Strategic, multifiduciary (fiduciary), and synthesis views of stake holders
  • Three values of the stakeholder model
§  Descript value
§  Instrumental value
§  Normative value

  • Three values of the stakeholder model
1.       Who are our stakeholders?
2.       What are our stakeholders’ stakes?
3.       What opportunities and challenges do our stakeholders present to the firm?
4.       What economic, legal, ethical, and philanthropic responsibilities does the firm have to its stakeholders?
5.       What strategies or actions should the firm take to best address stakeholder challenges and opportunities?

For detailed coverage on these topics refer to the chapter 3 PDF.

Class Discussion 9:38 AM
Topic 1:
Class discussion began about case 3: The Body Shop’s Reputation is Tarnished (refer to page 790 in your textbook).

Topic 1 Questions:
The following is a summary of questions that Professor Cameron asked in class so you can better understand the direction the discussion went:
"What happened?"
"What did they do?"
"Why write this article?"
"Is there anything on TV between 5, 7 and 8?"
"What approach would be the best?"
"Some have accused TBS of using intimidation to stifle critics. Is this valid criticism?"
"Has TBS's reputation been damaged? How should they fix it?"

End of entry.

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